Wells Fargo—coming off of an epic fraud scandal where they were forced to fire 5,300 workers, settled for pennies on the dollar with the government, settled another fraud perpetrated on the government, was busted for an entirely different fraud, and finally pushed out their CEO in an attempt at damage control—has a few more skeletons in their fraud closet. About 1,400,000 skeletons, it seems.
Wells Fargo (WFC) now says it has found a total of up to 3.5 million potentially fake bank and credit card accounts, up from its earlier tally of approximately 2.1 million. The additional fake accounts were discovered by a previously-announced analysis that went back to January 2009 and that reviewed the original May 2011 to mid-2015 period.
About 190,000 accounts were slapped with unnecessary fees for these accounts, Wells Fargo said. That's up from 130,000 previously.
Wells Fargo, trying to nip this in the bud, says it will open up its coin purse to throw some of its hard-scammed money back to those it defrauded.
Wells Fargo said it will now pay a total of $6.1 million to refund customers for unauthorized bank and credit card accounts, up from $3.3 million previously.
The bank also promised to pay $910,000 to refund customers for the 528,000 potentially improper online bill pay enrollments.
Wells Fargo still has a seemingly never-ending set of jobs for its legal team, including defending the big bank from illegally denying DACA recipients loans. Because, why not be racist on top of it all?