5,300 Wells Fargo employees fired for creating over 2 million phony accounts

money.cnn.com ^ | September 8, 2016: 3:52 PM ET | by Matt Egan

[Red Badger]

Everyone hates paying bank fees. But imagine paying fees on a ghost account you didn't even sign up for.

That's exactly what happened to Wells Fargo customers nationwide.

On Thursday, federal regulators said Wells Fargo employees secretly created millions of unauthorized bank and credit card accounts -- without their customers knowing it -- since 2011.

[Red Badger]

Late last year, I kept getting credit card and other info from Wells Fargo sent to my house in someone's name I did not know. I called WF main offices and told them the person did not live here or had I ever heard of such a person. They said they would 'close the account' and I never heard another word from them. Still get stuff from time to time, so I throw it in the trash. I've never even been in a WF bank, even though there is one less than a mile from my house. I've never had an account with them, either...............

[ncfool]

Gee! how does that happen with 5300 employees. That does not make any sense.

[Diana in Wisconsin]

Let me guess: 1,999,999 of those phony accounts had the name, ‘Clinton’ attached to them?

*SMIRK*

[sparklite2]

5,300? Wow, there goes the quarter’s employment stats.

[henkster]

The big national banks like Wells Fargo, Citi, Chase, etc.... are to be avoided at all costs. They are the crony capitalist collective farm.

[Don Corleone]

“Oh ho the Wells-Fargo Wagon is a commin’ down....”

[BenLurkin]

How did this get past the auditors?

Those guys (and gals) always made everyone nervous when they showed up. Or at least they did back in the day.

[Red Badger]

They are now 5300 EX-employees. That makes sense...............

[USMCPOP]

“fired 5,300 employees related to the shady behavior...”

Ho Lee Shit.

[Resettozero]

Over the past five years. Ongoing problem in-house.

[Red Badger]

Maybe they were part of the scam!.................

[DannyTN]

This went on for 5 years and involved 5300 employees?
This had to have middle management if not top management support.

[Red Badger]

Ho Lee Shit.

He probably had an account, too!................

[Talisker]

Fired hell, what about arrests?

Sneeze in a bank and SWAT surrounds you, but these bastards created thousands of fraudulent accounts to steal depositor money. Wells Fargo should be shut down under RICO laws and their management jailed for life.

[DIRTYSECRET]

How many false accounts per fired employee? Do the math please.

[Red Badger]

Perzackley!...........

[Billthedrill]

Yeah. I had to change my account login because somebody had tried to use it and it set off a security alert. The only problem I had with 5300 firings is that 5300 butts didn’t get kicked first.

[Red Badger]

They are probably all Democrats, so no harm no foul...............

[scouter]

Late last year, I kept getting credit card and other info from Wells Fargo sent to my house in someone's name I did not know. I called WF main offices and told them the person did not live here or had I ever heard of such a person. They said they would 'close the account' and I never heard another word from them.

I have the exact same story, except that it was in my name.

[E. Pluribus Unum]

Sounds like the slamming and cramming the phone companies used to do.