and people might go to jail over this
I know someone professionally who was an executive there and it looks like they will be going to jail.
If someone was effected by this would they 100% know about by now? I’ve never had a regular bank account there but several loans have been financed through them.
I think anyone who did business with them were potential victims
I was trying to telesell banking services for another bank and was told I couldn’t laugh when somebody said they were currently with Wells Fargo. It was like I had one hand tied.
I’m glad someone is going to jail. Yes, they’ve paid something like $18 billion in fines, have had their business constrained by the authorities (so they can’t grow) and had no movement in their stock price while the other big banks have seen their stock doubling. But I’m also glad some people are going to serve time.
The article I read noted that this settlement covers only the bogus accounts they opened and related fallout from that.
It does not cover anything having to do with the housing crisis, the fraudulent mortgages, the forged robo-signed documents, the people getting fraudulently foreclosed and losing their homes, and all the sleazy auto loans and the cars that got repossessed. That’s all still to come, apparently.