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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

Posted on 09/08/2016 1:14:35 PM PDT by Red Badger

Edited on 09/08/2016 1:41:02 PM PDT by Admin Moderator. [history]

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.


(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; US: California
KEYWORDS: bank; banking; creditcard; crime; fired; fraud; wellsfargo
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To: Billthedrill

We use a local Credit Union as our bank. Everything is local................


21 posted on 09/08/2016 1:21:32 PM PDT by Red Badger (Make America AMERICA again!.........................)
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To: E. Pluribus Unum

....and cable companies as well...............


22 posted on 09/08/2016 1:21:59 PM PDT by Red Badger (Make America AMERICA again!.........................)
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To: Red Badger

There ought to be criminal charges brought up on them.


23 posted on 09/08/2016 1:22:30 PM PDT by Blood of Tyrants (Only idiot liberals believe that disarming the sheep makes them safe from the wolves.)
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To: DIRTYSECRET

Mu calculator doesn’t have that many numbers...............


24 posted on 09/08/2016 1:22:32 PM PDT by Red Badger (Make America AMERICA again!.........................)
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To: DIRTYSECRET

2M/5300 = 377+ fake accounts per employee.


25 posted on 09/08/2016 1:22:34 PM PDT by day10 (You'll get nothing and like it!)
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To: DannyTN

It happens when you have sloppy audit procedures in conjunction with required account promotions.

Think Target credit card.


26 posted on 09/08/2016 1:22:50 PM PDT by AppyPappy (If you really want to irritate someone, point out something obvious they are trying hard to ignore.)
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To: Blood of Tyrants

There probably will be prosecutions and lawsuits galore!..................


27 posted on 09/08/2016 1:23:31 PM PDT by Red Badger (Make America AMERICA again!.........................)
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To: Red Badger

Here comes the racism comments, but I’ll bet if you do a study you’ll find there is an illegal alien component to both the perpetrators and the victims.

Back in the subprime collapse days, Wells Fargo was one of the big players in issuing subprime loans to illegal aliens.


28 posted on 09/08/2016 1:23:57 PM PDT by oldbill
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To: Red Badger

Wells Fargo is one of the banks that led the way in giving mortgages to illegal aliens. We all paid for that. I remember their reasoning was “Not everybody has a social security number. They are good people. It’s not fair to deny hundreds of thousands of dollars in mortgages to somebody just because you don’t know what their name is.” Wuck Fells Wargo.


29 posted on 09/08/2016 1:23:58 PM PDT by forgotten man
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To: Talisker

‘Sneeze in a bank and SWAT surrounds you,’

As per Hillary, only if there is intent.


30 posted on 09/08/2016 1:24:12 PM PDT by taterjay
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To: AppyPappy

We cancelled our Target credit card years ago when that trouble first came to light...............


31 posted on 09/08/2016 1:24:27 PM PDT by Red Badger (Make America AMERICA again!.........................)
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To: forgotten man

Karma....................sometimes slow, but always sure..............


32 posted on 09/08/2016 1:25:20 PM PDT by Red Badger (Make America AMERICA again!.........................)
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To: Red Badger

They had to somehow come up with the funds to pay for the Clinton speeches. What better than 5,300 sycophant Wells Fargo employees lying and cheating people of their hard earned money. Perfect Clinton type employees.


33 posted on 09/08/2016 1:26:16 PM PDT by DAC21
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To: DannyTN

That’s called effective employee training....*wink wink*


34 posted on 09/08/2016 1:27:06 PM PDT by TADSLOS (Vote Trump. Defeat the Clinton Crime Syndicate. Reset America.)
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To: Red Badger

WF may be able to refund any charges, but they can’t repair the damage done to people’s credit.


35 posted on 09/08/2016 1:29:47 PM PDT by Blood of Tyrants (Only idiot liberals believe that disarming the sheep makes them safe from the wolves.)
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To: Red Badger; Liz

From the same bank that was a big part of the ALT-A Home Loans to illegals that brought on the banking crisis in 2008. Too Big To Fail, Too Connected for Jail.


36 posted on 09/08/2016 1:31:03 PM PDT by TADSLOS (Vote Trump. Defeat the Clinton Crime Syndicate. Reset America.)
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To: Talisker

I would guess ‘fired’ is the first of about a hundred painful steps for WF.

I’ve received a lot of CC offers from them but never even glanced at the names, so I don’t know if I was somehow included.

First thing I do is sort the mail with the idea of just as much as possible goes into the trash bin just inside the back door before it gets any further into the house. That’s at least 75% of it.


37 posted on 09/08/2016 1:32:52 PM PDT by Balding_Eagle ( The Great Wall of Trump ---- 100% sealing of the border. Coming soon.)
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To: Red Badger

Don’t feel too badly for them. Heard many have been hired by the democrat voter registration offices.


38 posted on 09/08/2016 1:32:53 PM PDT by The_Media_never_lie ( Black's jobs matter!)
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To: Red Badger

They are certainly not the Wells Fargo of old.


39 posted on 09/08/2016 1:33:13 PM PDT by GingisK
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To: Red Badger

“Many customers who had unauthorized credit cards opened in their names were hit by annual fees, interest charges and other fees.”

“Oh look Ethel...here’s another charge on our statement that I don’t have a clue about. I won’t call the bank about THIS ONE either.”


40 posted on 09/08/2016 1:34:04 PM PDT by moovova
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