Among the allegations is that the bank used the accounts to secretly process electronic funds transfers in a money-laundering scheme. A lawsuit Patterson filed Tuesday in California accuses Wells Fargo of creating fraudulent accounts for thousands of people, including many non-customers. Regulators fined the bank $3 billion in 2020 for creating millions of fake accounts to generate millions of dollars in fees and interest. "Just as one Wells Fargo fake account scandal concludes, another emerges," the lawsuit alleges. Source is By Ethan Baron | The Mercury News Tribune News Service August 4, 2023. Reprinted in the StarTribune of Minneapolis MN. Not a day starter but CRs need to know. Check your Early Warning Services as they have been tied into this matter. Seems a work around avoids the credit bureaus. Un real?! Since this is NOT MF I have to say it is time to finish breaking up WF and part it out to other financials. How many years has something been going on at WF? Honesty is good, I started with WF clear back in the 1990s when they only served the western part of the United States and found them to be quite conservative and bound by rules (so it seemed). Truth may have eluded me? :cry:
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Wells Fargo accused of new fake-accounts scam in lawsuit alleging racketeering, identity fraud

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A year ago
Sat Aug 05, 2023 4:09 am
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Dinosaur
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Among the allegations is that the bank used the accounts to secretly process electronic funds transfers in a money-laundering scheme. A lawsuit Patterson filed Tuesday in California accuses Wells Fargo of creating fraudulent accounts for thousands of people, including many non-customers. Regulators fined the bank $3 billion in 2020 for creating millions of fake accounts to generate millions of dollars in fees and interest. "Just as one Wells Fargo fake account scandal concludes, another emerges," the lawsuit alleges. Source is By Ethan Baron | The Mercury News Tribune News Service August 4, 2023. Reprinted in the StarTribune of Minneapolis MN. Not a day starter but CRs need to know. Check your Early Warning Services as they have been tied into this matter. Seems a work around avoids the credit bureaus. Un real?! Since this is NOT MF I have to say it is time to finish breaking up WF and part it out to other financials. How many years has something been going on at WF? Honesty is good, I started with WF clear back in the 1990s when they only served the western part of the United States and found them to be quite conservative and bound by rules (so it seemed). Truth may have eluded me? :cry:
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Re: Wells Fargo accused of new fake-accounts scam in lawsuit alleging racketeering, identity fraud

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A year ago
Sun Aug 06, 2023 12:55 am
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Cassie
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Not good look lately: "Customers report missing deposits from Wells Fargo bank accounts" https://www.cnn.com/2023/08/03/business ... -deposits/
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Re: Wells Fargo accused of new fake-accounts scam in lawsuit alleging racketeering, identity fraud

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6 months ago
Fri Mar 08, 2024 5:28 am
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Dinosaur
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Cassie wrote: ↑Sun Aug 06, 2023 12:55 am Not good look lately: "Customers report missing deposits from Wells Fargo bank accounts" https://www.cnn.com/2023/08/03/business ... -deposits/
Aw but the Central Bank sees improvement with Wells Fargo and wants to remove the leash. Never a dull moment while the Fins and Banks scheme up new fees and ways to assist the consumer is losing their money! :angry-banghead: Got'ta love it.
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Re: Wells Fargo accused of new fake-accounts scam in lawsuit alleging racketeering, identity fraud

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6 months ago
Fri Mar 08, 2024 7:53 am
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Cassie
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Level54 Last INQFriday, February 14, 2020 Gardening For4 years, 6 months, 24 days, 20 hours, and 40 minutes Next Level in6 days, 3 hours, and 20 minutes on September 14th INQ 1yr onSunday, February 14, 2021 INQ 1yr reached3 years, 6 months, 24 days, 20 hours, and 40 minutes ago INQ 2yr onMonday, February 14, 2022 INQ 2yr reached2 years, 6 months, 24 days, 20 hours, and 40 minutes ago
Dinosaur wrote: ↑Fri Mar 08, 2024 5:28 am
Cassie wrote: ↑Sun Aug 06, 2023 12:55 am Not good look lately: "Customers report missing deposits from Wells Fargo bank accounts" https://www.cnn.com/2023/08/03/business ... -deposits/
Aw but the Central Bank sees improvement with Wells Fargo and wants to remove the leash. Never a dull moment while the Fins and Banks scheme up new fees and ways to assist the consumer is losing their money! :angry-banghead: Got'ta love it.
"If corporations are indeed "persons," their mental condition can accurately be described as pathological. Corporations have no innate moral impulses, and in fact they exist solely for the purpose of making money. As such, these "persons" are systemically driven to do whatever is necessary to increase revenues and profits, with no regard for ethical issues that might nag real people." - Psychology Today, 2011 No, I don't have 'all the answers' for how to deal with that. Just the way it is.
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