Wells Fargo is now staring at 2 Congressional investigations… over the company’s misleading sales tactics. Aggressive quotas contributed to the creation of some 2 (M) million accounts… unfortunately, a lot of customers… thousands and thousands of customers didn’t know those accounts were opened, and the bank was charging them fees. Committees from both the House and the Senate are calling top bank brass to Capitol Hill to explain it all. For its part, the San Francisco-based bank says it’s fired more than 5,000 employees… cleaning house of all the bad apples. But how much deeper does this go?
Jim Puzzanghera, Los Angeles Times