Wells Fargo Fined Record-Breaking $190 Mil and Fires 5,300 Staff After 'Widespread' Customer Fraud Scheme Uncovered

From the Daily Mail

Wells Fargo has been ordered to pay a record-breaking $190 million and has fired 5,300 employees after a huge customer fraud probe.

Investigators from the Consumer Financial Protection Bureau found staff signing customers up to additional bank accounts and credit cards without their knowledge.

While bankers used the extra accounts to hit sales targets and secure bonuses, customers found themselves hit with charges and fees for the ghost accounts.

Read the full article.