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Wells Fargo reveals more fake accounts


Image copyrightGetty ImagesUS bank Wells Fargo says as many as 3.5 million accounts may have been created for customers without permission over about eight years, even more than previously acknowledged.


Wells Fargo chief executive Tim Sloan apologised to customers and called the sales practices "unacceptable".


"To rebuild trust and to build a better Wells Fargo, our first priority is to make things right for our customers, and the completion of this expanded third-party analysis is an important milestone," he said.


Wells Fargo, one of America's biggest retail banks, has been in turmoil since revelations that the firm created millions of Fake Accounts to meet sales goals.


The problems cost more than 5,000 lower level employees their jobs and led to the resignation of former chief executive John Stumpf.




READ MORE (BBC News)


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  • Wells Fargo Admits To Nearly Twice As Many Possible Fake Accounts — 3.5 MillionNPR
  • Wells Fargo increases fake account estimate to 3.5MUPI.com
  • Wells Fargo now ties 3.5 million fake accounts to scandalOregonLive.com
  • Cramer calls Wells Fargo a 'rogue bank' after revelations of over a million ...CNBC
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