Source: Smith Collection/Gado / Getty
Source: The Washington Post
On Thursday, Wells Fargo said it had potentially opened an additional 1.4 million sham accounts customers didn’t want, 67 percent more than it initially estimated, escalating an already contentious battle over the future of the mega bank.
The bank revised the total, now up to 3.5 million, after discovering that employees may have been opening unauthorized credit card and bank accounts for customers for far longer than originally acknowledged. The eye-popping figure will likely hamper the bank’s efforts to move beyond the nearly year-long scandal as lawmakers and regulators delve deeper into its inner workings and demand changes.
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