And Again – Wells Fargo Employees Improperly (aka illegally) Altered Documents

Wells Fargo Employees Improperly Altered Documents

Wells Fargo& Co. found that employees in its wholesale unit added information to internal customer records without the clients’ knowledge, the Wall Street Journal reported, citing people familiar with the matter it didn’t name.

The bank discovered the improper activity and reported it to the Office of the Comptroller of the Currency, which is investigating, the newspaper said. The employees altered the documents in 2017 and earlier this year as they sought to satisfy regulatory demands related to anti-money-laundering controls, according to the Journal.

Wells Fargo has struggled to move past a wave of scandals, which led to a Federal Reserve ban on increasing assets until the lender fixes missteps. The bank’s first-quarter results were marred by a charge of $800 million tied to a settlement with U.S. regulators. Earlier this month, the bank rolled out a new marketing campaign built around its efforts to regain customers’ trust.

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4 Responses to “And Again – Wells Fargo Employees Improperly (aka illegally) Altered Documents”
  1. keepon says:

    So what’s TIM SLOAN’s excuse this time.
    Google his recent interview with Marie Bartiromo. ‘This would not happen again on his watch. Foolish suggestion for him to step down.’
    Federal Reserve?! MIS-STEPS?! This is intentional THEFT! ..and the Fed is the accomplice driving the getaway car.
    How many more lives will they be allowed to ‘take’ by fake documents and those judges who choose to rest cases on them.

  2. Anne says:

    As always, a bunch of thieves!!!! They will get away with whatever they want to do even though their bank is going down. They admit that they are wrong and NOBODY does anything to them!!!!!!!!!!!!!!! Don’t blame Trump either; it’s not his fault!!

  3. Carolina C. Bagnarol says:

    The most fraudulent bank, in existence. I am always pleased to see them fail!

    • Elaine Williams in Baltimore says:

      Here’s the thing they won’t fail – even with all the bad press and then that smarmy tv ad claiming they have ‘gained back your trust.” Bullshit! They were sued by the City of Baltimore in 2010 and found guilty for steering minorities into subprime loans when they qualified for PRIME! Why subprime? With subprime there is a lot less paperwork, easier to get qualified for and a larger fee for the broker. You also cannot “refinance’ or modify a prime loan which caused tens of thousands of people to loose homes. In some cases homes they had been in for years. WF plead guilty paid a huge fine – so what else is new? They are still here in Baltimore on every corner still doing business as usual. Wells Fargo is banking (no pun intended) on the fact that “sheeple” don’t want to go to the ‘hassle’ to change banks! And why have people turned into “sheeple” you may ask? Well they are all busy working their ass off at three jobs just trying to keep a roof over their heads.

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