5300 bankers who made millions of fake accounts and gained bonuses to fight

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America's largest financial institution "Wells Fargo'S employees have opened up more than 2 million imaginary accounts and credit card accounts in 2011 without permission, and further to the Consumer Finance Protection Agency (CFPB) a total of 185 million dollars We also agreed to pay a fine of 18.9 billion yen).

Wells Fargo Issues Statement on Agreements Related to Sales Practices | Business Wire
http://www.businesswire.com/news/home/20160908006266/en/Wells-Fargo-Issues-Statement-Agreements-Related-Sales

Wells Fargo Fined $ 185 Million Over Creation Of Fake Accounts For Bonuses: The Two-Way: NPR
http://www.npr.org/sections/thetwo-way/2016/09/08/493130449/wells-fargo-to-pay-around-190-million-over-fake-accounts-that-sparked-bonuses

5,300 Wells Fargo employees fired over 2 million phony accounts - Sep. 8, 2016
http://money.cnn.com/2016/09/08/investing/wells-fargo-created-phony-accounts-bank-fees/index.html

In Wells Fargo, the act of creating accounts and credit cards without permission from customers is rampant since 2011, and bankers who were involved in this problem had incurred incentives by achieving sales targets Thing. Customers who made accounts without permission were unexpectedly charged for an account fee, and it turned out that they were unjustly claiming over 400,000 dollars (about 40 million yen) by the commission alone.

Wells Fargo has agreed to pay a fine of 185 million dollars (about 18.9 billion yen) as a result of consultation with the Consumer Finance Protection Bureau, and has agreed to pay 50 million dollars (about 5.1 billion dollars) to Los Angeles City / Los Angeles County 12 million yen) and will be paid 35 million dollars (about 3.58 billion yen) to the American Currency Control Agency (OCC). Although it is the largest penalty ever, the experts say that "Wells Fargo's management scale may not be enough" may also be raised.

Wells Fargo announced that it conducted an internal survey by a third-party organization and dismissed 5,300 managers and bankers involved in the opening of a fictitious account. Consumer Finance Protection Bureau said that "Wells Fargo will compensate the victim for the full amount", Wells Fargo already has a total of 2.6 million dollars (about 265 million yen) to the victims found in the company survey Refunded. The Consumer Finance Protection Agency warns the financial industry as a whole that "there is a significant risk if the compensation system is not carefully monitored."

ByMike Mozart