Wells Fargo review finds 1.4M more potentially unauthorized accounts

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Wells Fargo, Downtown, Washington, D.C. (Freddie Allen/AMG/NNPA)

By Kevin McCoy, USA TODAY

Wells Fargo’s fake accounts scandal expanded Thursday with the disclosure of roughly 1.4 million more potentially unauthorized accounts than the bank originally estimated when the embarrassing episode emerged nearly a year ago.

The announcement confirmed Wells Fargo CEO Tim Sloan’s Aug. 22 forecast that the investigation likely would confirm wider consumer damage from the scandal by disclosing a new detail: unauthorized enrollment of customers in the bank’s online bill payment system.

While the new disclosures concluded the bank’s review of the issue, investigations or reviews of the episode by the Department of Justice, the Securities and Exchange Commission, the Federal Reserve and other authorities are continuing.

Read more at https://www.usatoday.com/story/money/2017/08/31/wells-fargo-review-finds-1-4-m-more-unauthorized-accounts/619794001/

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