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5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts

 
Anonymous Coward
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09/10/2016 07:10 AM
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5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
Everyone hates paying bank fees. But imagine paying fees on a ghost account you didn’t even sign up for.

That’s exactly what happened to Wells Fargo customers nationwide.

On Thursday, federal regulators said Wells Fargo employees secretly created millions of unauthorized bank and credit card accounts — without their customers knowing it — since 2011.

The phony accounts earned the bank unwarranted fees and allowed Wells Fargo employees to boost their sales figures and make more money.

“Wells Fargo employees secretly opened unauthorized accounts to hit sales targets and receive bonuses,” Richard Cordray, director of the Consumer Financial Protection Bureau, said in a statement.

Wells Fargo confirmed to CNNMoney that it had fired 5,300 employees related to the shady behavior.

The scope of the scandal is shocking. An analysis conducted by a consulting firm hired by Wells Fargo concluded that bank employees opened up 1,534,280 deposit accounts that may not have been authorized, according to the CFPB.

The way it worked was that employees moved funds from customers’ existing accounts into newly-created accounts without their knowledge or consent, regulators say.

Additionally, Wells Fargo employees also submitted applications for 565,443 credit-card accounts without their knowledge or consent, the CFPB said the analysis found.

[link to fox40.com]

Last Edited by LJS on 09/10/2016 08:59 AM
jkm1864

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09/10/2016 07:52 AM
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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
What makes You think every one of these people were white?
Pussy Grabber Extraordinaire
Anonymous Coward
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09/10/2016 08:25 AM
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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
What in the hell does that have to do with "white privilege"? 5300 people were fired. I will bet you $1000 right now that there was at least one black person who was fired and who was engaged in the same activity. Your claim makes absolutely no sense in that even if all these people were white, they didn't get away with anything because of their color.

I don't know a single white person who actively tries to oppress black people or hates them. In contrast, the black people that I work with have got it fucking made at my job. Nobody is treating them poorly. In fact, they get special treatment. And it is not just a flawed perspective on my part, all the other races think the same thing about the black people.

All this while these black employees are OPENLY racist against white people. Stop blaming white people for all your problems. Be a man. Handle your business. We all struggle. And every living person on this planet has been discriminated against unfairly based on some attribute they have. Get over it. I didn't do anything to you or your people and I don't have any fucking privilege. I've lived a hard life and struggled possibly probably much more than you to get what I've got.

This really needs to be confronted now and soon. Whites need to stop being so politically correct because as we have seen recently they are beginning to target and kill whites for no other reason than being white. It is starting to get out of control and black people are becoming more radical in their ideology of hate towards whites. It is getting out of control and we need to stop being affraid of standing up for ourselves.

White people don't talk about or think about black people the way you think they do. You have a flawed perception based on what the media feeds you. If you want to see this for yourself, notice when you around black people and they are talking about someone, they will OFTEN describe someone by their race or ethnicity. Many are obsessed by it. They'll often say well he's Filipino so.. or that Asian guy when talking about others. White people avoid doing this to the best of their abilities.

Blacks often make jokes about race and ethnicity openly because they think they have the privilege to do so. Open your eyes and ears, black people are much more focused on race than whites.

And whites are always conscious of trying to not be unjust towards other races. Rarely do we ever bad mouth you as a race behind your backs. There is no huge conspiracy against you. Any discrimination is purely accidental. It's time for you to see past color like MLK wanted. White people do a hell of a better job seeing past color than blacks. We want to get along. I don't think a lot black people even want that.

What you want is special privileges and treatment. Be honest with yourself. You've already got special treatment but it'll never be enough. Shit is not that bad out there. Get out there and get what you want out of life and stop being a victim. Damn
Anonymous Coward
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09/10/2016 08:31 AM
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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
Must be white privilege

Blacks aren't smart enough, right?


Sarcasm
Anonymous Coward
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09/10/2016 08:52 AM
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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
And most of the oppression has a hell of a lot more to do with CLASS instead of race. There were other races of POOR powerless people who were used as slaves too. And this police brutality and oppression has a hell of a lot more to do with social standing. They oppress people from trailer parks too. Anybody who is poor is powerless and they will always be oppressed. That's the way the world works. Open your eyes. You want to stop the oppression lift up your communities and go out there and get some wealth, help your brothers and sisters become prosperous.

There are people from all colors oppressing people from all other colors. Even black people are part of it. The oppressors have one thing in common. They are wealthy. Black people just don't understand how power works. When and only when, you become wealthy will you have the power necessary to defeat them. But more than likely you would end up becoming an oppressor yourself. It's human nature Just like the rich free blacks during slaves who guess what?? Owned slaves! (It's true) A small percentage of the entire American populace owned slaves and the ones who owned them were again WEALTHY. How many people do you really think owned a mansion on a plantation?

It would be a smarter move to stop making whites your enemy if you want change. Millions of us stood against slavery even giving their lives! Millions marched with you for civil rights! Yet today only "black lives matter" That is a mistake that will get you nothing except conflict and a worse situation. There will be no positive change without allies.
rodehard putawaywet

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09/10/2016 09:01 AM

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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
Nagger Please! It was probably Black Privilege. Black people have a natural criminal tendency and only blacks would come up with this scam. Upscale Black Privilege is what kept them from being arrested.
I don't have the time or the crayons to explain this to you.



Slake Blake
SerenaSeesAll

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09/10/2016 10:24 AM

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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
Let me exercise my "white Privilege".


1 star and byekitty



Oh wait that isn't my right because I am WHITE, everyone has that privilege.
Question is what do you do with your privilege? Oh yeah... you start a racist bait thread!
=============================================================​

Noticing Miracles Is My Hobby

The Bible - When you carry the Bible, Satan has a headache, when you open it, he collapses, when he sees you reading it, he loses his strength, AND when you stand on the Word of God, Satan can't hurt you!
SerenaSeesAll

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09/10/2016 10:28 AM

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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
And most of the oppression has a hell of a lot more to do with CLASS instead of race. There were other races of POOR powerless people who were used as slaves too. And this police brutality and oppression has a hell of a lot more to do with social standing. They oppress people from trailer parks too. Anybody who is poor is powerless and they will always be oppressed. That's the way the world works. Open your eyes. You want to stop the oppression lift up your communities and go out there and get some wealth, help your brothers and sisters become prosperous.

There are people from all colors oppressing people from all other colors. Even black people are part of it. The oppressors have one thing in common. They are wealthy. Black people just don't understand how power works. When and only when, you become wealthy will you have the power necessary to defeat them. But more than likely you would end up becoming an oppressor yourself. It's human nature Just like the rich free blacks during slaves who guess what?? Owned slaves! (It's true) A small percentage of the entire American populace owned slaves and the ones who owned them were again WEALTHY. How many people do you really think owned a mansion on a plantation?

It would be a smarter move to stop making whites your enemy if you want change. Millions of us stood against slavery even giving their lives! Millions marched with you for civil rights! Yet today only "black lives matter" That is a mistake that will get you nothing except conflict and a worse situation. There will be no positive change without allies.
 Quoting: Anonymous Coward 69112284


clappa
=============================================================​

Noticing Miracles Is My Hobby

The Bible - When you carry the Bible, Satan has a headache, when you open it, he collapses, when he sees you reading it, he loses his strength, AND when you stand on the Word of God, Satan can't hurt you!
Anonymous Coward
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09/10/2016 10:44 AM
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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
epic doj and LE fail..but what do you expect...they didn't do shit to the criminals for their part in the 2008 great con either
Anonymous Coward
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09/10/2016 10:44 AM
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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
That's why I use the Bank of Sealy....
Anonymous Coward
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08/23/2017 04:47 AM
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Re: 5,300 Wells Fargo Employees Fired (But Not Arrested) for Creating Millions of Phony Accounts
bump





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