WELLS FARGO CAUGHT WITH ANOTHER 1.4 MILLION FAKE ACCOUNTS, WILL ANYONE EVER GET JAILED?

SOURCE: RT

As the tally of fake Wells Fargo accounts balloons to 3.5 million, Congress has yet to discipline the executives, while the financial giant has only paid fines. A coalition of 33 groups is now demanding new hearings and for the bank to be held accountable.

Wells Fargo and Company increased its estimate of how many accounts were created by 67 percent Thursday. The mega bank issued shocking new disclosures, showing 1.4 million more bogus customer accounts had been created, a significant  increase from previous estimates, the New York Times reported.

In addition, Wells Fargo admitted to yet another impropriety, stating that they enrolled more than a half-million customer accounts into their online bill pay service without notifying them. The embattled bank has since agreed to pay out $910,000 to customers who accrued fees or charges related to the unknown accounts.

“We are working hard to ensure this never happens again and to build a better bank for the future,” Wells Fargo CEO Timothy J. Sloane said in a statement, the Times reported.

There has not yet been word if executives with the bank will be summoned back to Washington to face lawmakers for yet another round of questioning following last year’s Capitol Hill hearing with then-CEO John Stumpf.

During that hearing, Wells Fargo and their former CEO paid big bucks, but no other actions have been taken by Congress to thwart future offenses by the company. Now, 33 organizations have banded together to call for new congressional hearings relating to Wells Fargo’s questionable practices.

Two groups, Americans for Financial Reform and Public Citizen, are leading the charge to stage new hearings, The left-leaning organizations sent a letter Thursday to the Senate Banking Committee and the House Financial Services Committee, asking to bring Wells Fargo executives back to Capitol Hill to answer for the newly found malpractices.

US Senator Sherrod Brown (D-Ohio), head of the Senate Banking Committee, tweeted“Wells Fargo harmed millions more customers than originally disclosed, and continues to avoid accountability.”

And Representative Maxine Waters (D-California), suggested in a statement that Wells Fargo’s wrongful acts may be too big to manage.

“This disgraceful, illegal, and widespread misconduct is exactly why I will be introducing legislation that breaks up banks – like Wells Fargo – that repeatedly engage in consumer abuses, so that they can never harm consumers again,” she said, according to Bloomberg.

Progressive firebrand US Senator Elizabeth Warren (D-Massachusetts) called Wells Fargo’s new disclosure “unbelievable” in a tweet Thursday.

MORE BANKSTER DEBAUCHERY

Views: 90

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a video

When Havoc Struck - Bel Air Fire 1961 - 1978 TV Series Glenn Ford

Here is the complete "Bel Air Fire" episode of the TV series "When Havoc Struck" from 1978. Includes intense footage and dramatic interviews from survivors o...
10 hours ago
Doc Vega posted a blog post

Living a Lie

Living a Lie She is like a pearl in the sands of the shorePerhaps a fantasy that could become moreA…See More
20 hours ago
Less Prone favorited tjdavis's photo
yesterday
Less Prone commented on tjdavis's photo
Thumbnail

Killbillys

"Could it be that B.G. is an AI controlled drone who seeks to advance the goals of the advanced AI…"
yesterday
cheeki kea commented on Sandy's photo
Thumbnail

FB_IMG_1737188817344

"It's as if it jumped the bush it had no appetite for and raced off to what it wanted to fuel…"
Monday
tjdavis posted photos
Monday
Burbia commented on Burbia's group The Comment Section is Closed
"Every comment here looks like they are all on the same page"
Monday
tjdavis posted blog posts
Monday
Less Prone commented on Parrhesia's photo
Thumbnail

Black Rock

"Black Rock, the sixth rock from the sun, is Saturn (Satan). Saturn has one day of the week,…"
Sunday
Less Prone favorited Doc Vega's photo
Sunday
Less Prone commented on tjdavis's video
Thumbnail

DARPA Avatar Project - A Sentient World Simulation

"Is artificial intelligence and its power consumption a driving force behind the need for more…"
Sunday
Doc Vega posted a photo
Sunday
Doc Vega posted blog posts
Saturday
Sandy posted a photo
Saturday
Sandy commented on tjdavis's video
Saturday
Sandy favorited tjdavis's video
Saturday
Sandy commented on tjdavis's video
Saturday
tjdavis's 2 blog posts were featured
Friday
Doc Vega's 4 blog posts were featured
Friday
FREEDOMROX's blog post was featured
Friday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted