Wells Fargo opened far more fake accounts than previously thought

DENVER BUSINESS JOURNAL - Wells Fargo & Co. may have opened as many as 3.5 million bogus accounts for customers without their consent, 67 percent more than has been previously disclosed.

That's according to results of an independent review as reported today by several national news outlets.

The San Francisco-based bank (NYSE: WFC) -- Colorado's largest by deposits -- previously had announced that 2.1 million fake accounts were created in a scandal over sales practices that has rocked the company and led to a shakeup of its leadership and board.

The scandal involves Wells retail-banking employees creating millions of additional accounts for bank customers -- individual consumers and small businesses -- to help employees meet steep sales goals that have since been changed.

Read more at the Denver Business Journal: http://bit.ly/2eHutB3

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