Wells Fargo To Pay $3 Billion In Settlement For Fake Accounts Scandal | NBC Nightly News

Wells Fargo To Pay $3 Billion In Settlement For Fake Accounts Scandal | NBC Nightly News


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About the Author: Oren Garnes

60 Comments

  1. An how much money did they make by doing the fraud, I'm sure, this is 1% of the profit they made overall. Lol an nothing goes back to the victims, duh! Lol 😆

  2. It's not the first time . they stole my brothers money when we were kids at 18 he went to get it and they said there is no money in this account but here's the intrest ……. Even as a kid i knew that that was faulty

  3. I worked in Citibank collections for a couple of years. There were monetary rewards for those who collected the most. I caught several employees setting up unauthorized automatic transfers, for weeks at a time. Stay vigilant, folks!

  4. This is why I try to avoid banks, even though I have to deal with banks I try not to leave only the money required in them for my business.

  5. THE BIGGEST IDENTITY THEFT IN OUR LIFETIME AND OFCOURSE NO ONE GOES TO JAIL?

    OFCOURSE… JUST PROVES AMERICA IS THE BIGGEST CRIMINAL COUNTRY IN THE WORLD AND DEEP STATE OWNED!!!

  6. Are you telling me not one person is going to jail over this how can they do something illegal and not go to jail just because they have money this is so not right

  7. And WHERE EXACTLY IS the 3 billion going to if not the ones who were taken advantage of??? You cant fix corruption with MORE CORRUPTION!

  8. Just you watch – a bunch of average Joe workers will now get laid off. Executives will all still get multi-million dollar bonuses this year. This is disgusting.

  9. So the people who are affected by the scams aren't getting the money, not to mention Wells Fargo were targeting black elderly customers to take advantage of them. I love the U.S. Justice system…

  10. I'd like to know when they merged with McDonald's. All they're ATM's look like a Mc D drive through. "Fast and loose with your money. You deserve a fake today." Peace

  11. Wow so where dose that 3billion go?? The government?? What about the people’s lives that were ruined because of greed??

  12. These white ppl be finessing STEALING FROM EVERYONE, everyone BUT THEY Lock ppl up for 5-10-20-40-50-60-70 years for learning it FROM THEM

  13. this happened to me about 15 years ago- I had around $100 in my WF checking account and made 6 small purchases in one day. each less than $10, so I had about $70 left. then NEXT day a $100 check that I wrote to someone and forgot about had cleared and I was in the negative. Instead of charging me just 1 overdraft fee for the said check, WF also decided to charge me six more $35 overdraft fees for 6 purchases I made the day before. After week of complaining, they refunded 50% which, in their words was "maximum allowed".

  14. If a company commits what would be a felony (acting against U.S. citizens), it's license to do business in any form under any name should be revoked as a matter of policy, and the people who own the company should be involved in that prosecution, just as parents who are responsible for the behavior of their children. That seems like a clear and necessary step to stop the rampant corruption in white collar corporate America.
    To big to fail? Let them fail. They did it, and while it may be somewhat painful to consumers, we can handle it. It might even begin to straighten out the other crimes against consumers. Let's take care of them the right way.

  15. Wells Fargo should be put out of business. This bank has a culture of predatory behavior towards its so called clients. I call us victims. Years ago my company had an asset based loan with a bank called Fleet Bank which was sold to Bank of America. BofA sold many asset based loans to Wells Fargo as part of that transaction. Wells Fargo decided to shed all loans below 20 million. Mine was one of those at 15 million. So rather than asking us to find a new bank they tortured us by administering as many service failures as they could which nearly forced me out of business – they did this to force us to break our contract and pay a penalty of $268,000.00 to get out of our loan agreement. This bank deserves to be dismantled. I am so very happy for this settlement they made. I hope it puts them out of business. I for one since this incident would never patronize Wells Fargo or BofA – although BofA did nothing wrong but make a business decision. One that hurt me tremendously. Wells Fargo should go down the tube…………………..

  16. So the money doesn't go to customers or employees who had this policy destroy their lives. What kind of sense does that make

  17. These fake accounts had Zero impact to customers, it was just employees ripping off the company. How anyone can be outraged is a complete joke.

  18. How does a company have to pay a $3b fine and no one goes to jail? Meanwhile unarmed robbery gets you time in the slammer….please explain to me the difference?

  19. Nothing for the employees who got fired 1) for not meeting wrong goals 2) got caught following wrong instructions 3) blew the whistle.

  20. Does this mean theyll pay back all the overdraft fees they weren't supposed to be charging. "If its under 5$ it has no fee" "perfect" "you owe us 35" "but…the lady said…." "Lol. Sir, dont be stupid we want all your money"

  21. I was also one of those affected and when I received some paperwork in the mail to add my name to the list of people in the lawsuit, I filled it out, but I'm positive that they will find some legal way to make sure that all of us don't get any of that $3Billion!

  22. 0:19 Oh, I thought he was talking about Activision-Blizzard and EA. The "gaming" caught me unaware. Maybe one day big greedy publishers can be taken to task for "trading its hard earned reputation for short-term profits and harm[ing] untold numbers of customers along the way."

  23. Unfortunately, almost every banking establishment I have ever done business with has attempted to create fake accounts and made false charges on my accounts. Most if not all banking institutions are criminals in this manner so they all don't deserve any sympathy. The money is at the banks and so are many evil people and criminals.

  24. And what about the company's (and high-ranking officials') BILLIONS IN STOLEN DOLLARS AND EUROS THEY HAVE HIDDEN SOMEWHERE????

    And why do they get to "settle" — much less stay in business!!

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