And what kind of profit does "the company" make?The scope of Wells Fargo’s fake accounts scandal grew significantly on Thursday, with the bank now saying that 3.5 million accounts were potentially opened without customers’ permission between 2009 and 2016.
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Wells Fargo said last month that roughly 570,000 customers were signed up for and billed for car insurance that they didn’t need or necessarily know about. Many couldn’t afford the extra costs and fell behind in their payments, and in about 20,000 cases, cars were repossessed.
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Wells Fargo said Thursday that of the 3.5 million accounts potentially opened without permission, 190,000 of those incurred fees and charges.
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In addition, San Francisco-based Wells admitted that 528,000 customers were likely signed up for online bill payment without authorization.
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The company ended up paying $185 million to regulators and settled a class-action suit for $142 million.
AP
...but hey, do what you want...you will anyway.The estimated net worth of Wells Fargo in 2016, even after these revelations first came to light, was nearly $90 billion.
Charles P Pierce
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