WELLS FARGO SCANDAL CONTINUES

摘要

ON AUGUST 31, 2017, Wells Fargo (WFC), the banking and financial services giant, announced that the number of fraudulent checking or other accounts opened without customer approval or authorization was really 3.5 million, a one-third increase from the 2.1 million reported last year. (See "Lessons from the Wells Fargo Scandal" in the November 2016 issue of Strategic Finance.) The current analysis goes from January 2009 to September 2016. It also found 800,000 instances of unwanted auto insurance forced on customers and failure to make refunds to customers with auto loans.