How Wells Fargo encouraged employees to commit fraud
- Written by Elizabeth C. Tippett, Assistant Professor, School of Law, University of Oregon
Over the course of four years, at least 5,000 Wells Fargo employees opened more than a million fake bank and credit card accounts on behalf of unwitting customers.
Although many bank accounts were deemed “empty” and closed automatically, employees sometimes transferred customer funds to the new accounts, triggering overdraft fees and...
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