The board of directors is making a very conscious decision to try to put better internal controls in.
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Time will tell but at least wells fargo is taking the right steps to clean up the mess.
Employees created as many as 2m secret credit cards and bank accounts.
Wells fargo has become engulfed in a scandal over phantom accounts.
The sec heaped a 4 million fine on wells fargo and forced it to repay over 1 million in ill gotten gains and interest to mom and pop investors at wells fargo advisors the bank s brokerage arm.
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The wells fargo scandal explained posted on october 6 2016 in one of the most shocking events in the financial world wells fargo was recently fined by multiple regulators for creating fake bank and credit accounts for their customers and charging fees associated with the fraudulent accounts.
Wells fargo corporate investment banking cib and wells fargo securities wfs are the trade names used for the corporate banking capital markets and investment banking services of wells fargo company and its subsidiaries including but not limited to wells fargo securities llc member of nyse finra nfa and sipc wells fargo prime services llc member of finra nfa and sipc and.
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Wells fargo is a diversified community based financia l services company with 1 9 trillion in assets and approximately 260 000 team members working to serve one in three households in the united states.
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