WOW, never cared much for Well Fargo. I've never had an account there, but have friends and relatives who did, do. Some no issues, most did have issues. It also the most frequent phish email that I get with someone trying to convince me my non-existent account has a problem.
Woah, that would be impressive! $1 billion is real money, even for Wells Fargo. But then, what they did was also quite impressive.
A genuine penalty which will register directly inside management/resources and send a strong signal along the industry network. It "was" a most callous operation.
Very small compared to the amounts in bailouts that the government gave to bankers during the last few years.
Customers still charged fees after Wells Fargo closed their accounts August 14, 2019 http://www.startribune.com/customer...-wells-fargo-closed-their-accounts/547729622/
"Wells Fargo reaches $3 billion settlement with DOJ, SEC over fake-accounts scandal Wells Fargo on Friday agreed to pay $3 billion to settle potential federal criminal and civil charges that for more than a decade the bank’s aggressive sales goals led to widespread consumer abuses, including millions of accounts opened without customers’ consent...." https://www.washingtonpost.com/business/2020/02/21/wells-fargo-fake-accounts-settlement/
