Wells Fargo Still Feeling Impact Of Sales Practices Scandal

NEW YORK (AP) — Wells Fargo is still seeing fewer people at its bank branches as well as a decline in checking-account openings as the scandal over its sales practices takes its toll.

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  • Wells Fargo still feeling impact of sales practices scandal
    Wells Fargo is still seeing fewer people at its bank branches as well as a decline in checking-account openings as the scandal over its sales practices takes its toll. But there is a silver lining for the San Francisco bank: Its February numbers are up ...
    03/19/2017 - 7:51 pm | View Link
  • Wells Fargo sees drop in checking account openings
    Wells Fargo ... are feeling or understanding or experiencing at that time." He added that in Wells Fargo's submission for capital returns, it is important the bank demonstrate an awareness of risks. With regard to the sales-practices issues, that might ...
    12/15/2016 - 11:35 pm | View Link
  • Wells Fargo Reports A 27 Percent Decline In New Accounts In October
    As for new accounts opened, Wells Fargo reported a 27 percent decline in linked month (LM) accounts and a 44 percent year-over-year decline “primarily due to a full-month impact of customer reaction to the sales practices ... Fargo is feeling the pain ...
    11/17/2016 - 11:33 pm | View Link
  • Wells Fargo New Account Openings Down 44%; Credit Card Applications Plunge By 50%
    "Because the sales practices settlement was announced on Sept. 8, October data reflects the first full month of impact," Mary Mack, head of Wells Fargo's community banking business, said in a statement. Since the scandal, Wells Fargo has launched an ...
    11/16/2016 - 11:10 pm | View Link
  • What the Wells Fargo Scandal Reveals About Big Banks
    What this reveals is that Wells Fargo as a whole created an environment in which their bottom line was far more important than the welfare of their customers. Employees reported feeling ... Fargo’s sales policies have had a significant impact, not ...
    11/14/2016 - 7:44 am | View Link
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