Tag: Wells Fargo

Colbert: Elizabeth Warren Rips Wells Fargo’s CEO Stumpf [VIDEO]

Stephen Colbert detailed the fallout at San Francisco-based bank, Wells Fargo, which accrued $185 million in regulatory fines earlier this month after opening β€œroughly 1.5 million bank accounts and applied for 565,000 credit cards that may not have been authorized by customers,” according to The New York Times. Wells CEO John G. Stumpf testified before…

Wells Fargo Fined $185 Million For Illegal Banking Practices [VIDEO]

Wells Fargo was fined $185 million Thursday for illegal banking practices, including issuing credit cards without customer consent and piling late fees onto accounts customers didn’t know they had. The bank, which serves approximately 40 million customers, has fired 5,300 employees for creating over 2 million fake accounts. “Wells Fargo employees secretly opened unauthorized accounts…