Wells Fargo uncovers more fake accounts in drawn-out scandal

Wells Fargo & Co hiked the tally of accounts that were potentially opened without customers’ knowledge by over a million on Thursday after an expanded review of improper sales practices.

The revelation is the latest chapter in a year-long scandal at the San Francisco bank and puts it back in the crosshairs of lawmakers as they prepare to return to Congress next week.

Democratic U.S. Senator Elizabeth Warren, a leading voice on consumer finance issues, tweeted “Unbelievable” after Wells Fargo said it had found an additional 1.4 million accounts were potentially opened without permission, bringing the total estimate to about 3.5 million. Read more

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