Re d: 5, 300 Wells Fargo employees fired over 2 million phony accounts

["Dave Farber" <dave () farber net>]

---------- Forwarded message ----------
From: *Doug Humphrey* <doug () joss com>
Date: Tuesday, September 13, 2016
Subject: 5, 300 Wells Fargo employees fired over 2 million phony accounts
To: dave () farber net
Cc: ip <ip () listbox com>


When a corporation does it, there are fines, but almost nobody goes to jail
(it is a vanishingly small percentage).  Individuals do it, and it's hammer
time, jail quite often.  This double standard is a terrible thing - do the
crime big enough, as a company, no need to worry.

On Sep 8, 2016, at 6:05 PM, Dave Farber <farber () gmail com
<javascript:_e(%7B%7D,'cvml','farber () gmail com');>> wrote:




Begin forwarded message:

*From:* Lauren Weinstein <lauren () vortex com
<javascript:_e(%7B%7D,'cvml','lauren () vortex com');>>
*Date:* September 8, 2016 at 5:21:21 PM EDT
*To:* nnsquad () nnsquad org
<javascript:_e(%7B%7D,'cvml','nnsquad () nnsquad org');>
*Subject:* *[ NNSquad ] Off-Topic: 5, 300 Wells Fargo employees fired over
2 million phony accounts*


Off-Topic: 5,300 Wells Fargo employees fired over 2 million phony accounts

http://www.wcti12.com/news/5300-wells-fargo-employees-
fired-for-creating-millions-of-phony-accounts/74912454
<http://www.wcti12.com/news/5300-wells-fargo-employees-fired-for-creating-millions-of-phony-accounts/7491245424f40eb?uri=aHR0cDovL3d3dy53Y3RpMTIuY29tL25ld3MvNTMwMC13ZWxscy1mYXJnby1lbXBsb3llZXMtZmlyZWQtZm9yLWNyZWF0aW5nLW1pbGxpb25zLW9mLXBob255LWFjY291bnRzLzc0OTEyNDU0>

     On Thursday, federal regulators said Wells Fargo employees
   secretly created millions of unauthorized bank and credit card
   accounts -- without their customers knowing it -- since 2011.
   The phony accounts earned the bank unwarranted fees and
   allowed Wells Fargo employees to boost their sales figures and
   make more money.  "Wells Fargo employees secretly opened
   unauthorized accounts to hit sales targets and receive
   bonuses," Richard Cordray, director of the Consumer Financial
   Protection Bureau, said in a statement.  Wells Fargo confirmed
   to CNNMoney that it had fired 5,300 employees related to the
   shady behavior over the last few years. Employees went to far
   as to create phony PIN numbers and fake email addresses to
   enroll customers in online banking services, the CFPB said.

- - -

--Lauren--

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