Items Tagged with 'Scandal'

ARTICLES

  • Another scandal: Wells Fargo alters corporate customers’ documents

    Could have changed Social Security numbers, dates of birth
    Wells Fargo finds itself in the midst of yet another scandal as a new report surfaces, showing the employees in the unit which handles its business banking illegally altered its customers’ documents. And this latest scandal stems from actions taken by employees in 2017 and even early 2018 as they rushed to meet deadlines.
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  • Wells Fargo lays off 60 staff members from mortgage unit

    But currently looking to hire 1,500 for mortgage-related roles
    Wells Fargo recently laid off about 60 of its employees from the bank’s giant mortgage division. But the layoffs do not appear to be any kind of scale back by Wells Fargo, which is the largest U.S. mortgage lender by volume. Here’s what people close to the matter say.
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  • Whistleblower accuses Wells Fargo of unfair mortgage rate hikes

    Bank allegedly cut corners to keep expenses low
    A whistleblower and former loan officer from Wells Fargo accused the bank of its latest scandal: manipulating its clients into paying higher mortgage interest rates. The whistleblower explained borrowers agreed to the higher rates to avoid extension fees which were often due to the bank’s questionable tactics.
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  • CFPB investigates scandal-ridden Wells Fargo…again

    Regulator now moves from fake accounts to real ones
    In a recent regulatory finding, Wells Fargo revealed its latest allegation. It appears the bank is now being investigated by the Consumer Financial Protection Bureau for closing real accounts even while it was opening fake ones, and therefore allegedly leaving its customers without access to funds.
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  • Latest Wells Fargo scandal emerges in mortgage department

    Officials accused of making unauthorized changes to home loans
    A new scandal may be emerging at Wells Fargo even before the flames burn out on the fake accounts scandal. While the bank denies the claims, lawsuits are popping up all over the U.S. The latest scandal claims the bank made unauthorized changes in the mortgage department.
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  • Wells Fargo keeps mortgage lending comp intact

    Changes focus on retail banking
    Wells Fargo recently announced it would completely overhaul its current compensation plan and replace it with one that will help prevent another scandal, but there’s one catch. The change will only apply to the retail sector, everything else will continue as business as usual.
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