Wells Fargo May Have Found More Fake Accounts Created by Employees<br />“Today’s regulatory filing reminds us of this, because it includes evidence of much of<br />that work, particularly as we have identified problems that we have committed to fix.”<br />One of those problems came to light last week, when published an article about Wells Fargo’s policy<br />of charging some customers who took out car loans for auto insurance that they did not need or want.<br />But Wells Fargo also indicated that it has a new regulatory issue looming: an investigation by the federal Consumer Financial Protection Bureau into whether customers were harmed by the bank’s practice of freezing,<br />and in some cases closing, bank accounts suspected of being affected by fraudulent activity.<br />The bank said in a regulatory filing that its review of potentially unauthorized accounts could reveal a “significant<br />increase” in the number of accounts involved, up from the 2.1 million that it previously estimated.
