financial group Wells Fargo has agreed in the scandal of the phantom account with 50 US States on a multi-million dollar settlement. The American Bank will pay $ 575 million for the settlement of the proceedings. This is the Ministry of justice of Iowa announced on Friday (local time). The business conduct of the Bank had caused a sensation: for example, employees in number of phantom accounts in the names of their customers opened, in order to meet internal targets.
The number of known bogus accounts is now at 3.5 million. Because of the affair, Wells Fargo agreed as early as 2016, with the US Federal authorities on the payment of a sum of 190 million dollars. In an unprecedented move, had banned the US Central Bank, the Fed, in February, on top of that, the scandals shook the financial group’s further growth. The Bank may increase its balance sheet again, if your corporate governance and internal controls have been improved sufficiently.
Wells Fargo paid in the past years, so far, penalties in the amount of more than two billion dollars for his scandals. The American money had made back in the third quarter are already $ 400 million for the now-closed comparison. The remaining $ 175 million will be recorded in the Institute by the end of the year as an expense. (sda)
Created: 29.12.2018, 04:17 PM
