Contact Your Financial Adviser Money Making MC
16
September 2016
 |
| Wells Fargo (The Total Investment & Insurance Solutions) |
Various media outlets are citing anonymous
sources, which say that Federal Bureau of Investigation (FBI) and federal
prosecutors have begun an investigation into the matter, which burst into
public view this week with the announcement that Wells Fargo was paying $185
million in fines to federal and Los Angeles regulators, says ConsumerAffairs.com in a report. The Total Investment & Insurance Solutions
In the report, Mark Huffman from ConsumerAffairs.com,
says, the dust has yet to settle from Wells Fargo's admission that thousands of
its employees opened bogus checking and credit card accounts in order to hit
sales goals. You might say it is heading into a dust storm. The Total Investment & Insurance
Solutions
"The bank said it had fired 5,300
employees who allegedly opened hundreds of thousands of deposit and credit card
accounts for consumers without those consumers' knowledge or permission,
presumably to meet strict sales goals. Neither the FBI nor the bank would comment
on reports of a potential criminal investigation, but that is normal procedure.
It would be highly unusual if either party did," the report says.
Congress getting into the act
However, the Senate Banking Committee has
scheduled a public hearing for next week in which it will press Wells Fargo CEO
John Stumpf to explain what happened and how. The committee will also hear from
officials of the Office of the Comptroller of the Currency, Consumer Financial
Protection Bureau (CFPB), and Los Angeles City Attorney's Office, the agencies
that... The Total Investment & Insurance Solutions
No comments:
Post a Comment