Daily Intelligencer NY Mag Sept. 13, 2016

Wells Fargo’s CEO Blames Massive Fraud Scheme on Its Employees

Elizabeth Warren will get her chance to rip into Wells Fargo one week from today when the Senate banking committee holds a hearing on what the senator has called “a staggering fraud.” Last week, the bank was fined $185 million after its employees spent years screwing customers by creating fake accounts in their names without their approval or knowledge. The announcement of next Tuesday’s hearing came hours after Warren and four other Democratic senators demanded a chance to probe the bank’s aggressive sales tactics. “The magnitude of this situation warrants a

Read more ...