Richard Cordray

VALENCIA CA/USA - AUGUST 17 2014. Wells Fargo bank exterior. Wells Fargo & Company is an American multinational banking and financial services holding company headquartered in San Francisco California.

Wells Fargo Fined $185 Million for Opening Millions of Fake Accounts

Yesterday, federal regulators fined Wells Fargo $185 million after investigations revealed that employees had opened millions of fake accounts under customer names. The bank fired nearly 5,300 employees for their involvement with these accounts. The Consumer Financial Protection Bureau fined the bank an historic $100 million, and claims Wells Fargo employees “secretly opened accounts and shifted