Börse Express – Wells Fargo pays billions in fines for scam accounts scandal

An affair about fictitious accounts comes
Large US bank Wells Fargo to be expensive again. The
Geldhaus did as part of a settlement with the Ministry of Justice
and the SEC’s fines totaling 3.0 billion
Accepted dollars (2.8 billion euros), the SEC said on Friday
Washington with. Wells Fargo had because of the banknote scandal and
a series of further breaches of rules in the distribution of financial products
previously received severe penalties from US authorities. in addition
came with numerous layoffs and expensive comparisons
Class action plaintiffs.

Wells Fargo had admitted in 2016 that employees had been in for years
large-scale bank and credit card accounts that were not opened by
Customers were authorized. A little later was the one at that time
CEO John Stumpf got rid of his job. But also the US authorities
didn’t cut a good figure in the affair. So the banking regulator cleared
later that the control was insufficient and quite a few
Opportunities were missed earlier on the trickery
Sneak to come. Although there were indications from
Whistleblowers and media reports only followed from September
2016 consequences./hbr/DP/he

 ISIN  US9497461015

AXC0286 2020-02-21 / 22: 29

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