Wells Fargo Fined $185M For ‘Widespread Illegal’ Sales Practices

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Photo by Mike Mozart via Flickr

Wells Fargo & Co. was slapped with a $185 million fine for “widespread illegal” sales practices that included opening as many as two million deposit and credit-card accounts without customers’ knowledge, the Wall Street Journal reports. Employees at the bank, which has 40 million retail customers, issued debit cards without customers’ knowledge and assigned personal identification numbers without telling them, said the U.S. Consumer Financial Protection Bureau. The employees also transferred funds from authorized . . .

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