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Game changer: California investigating Wells Fargo for identity theft

That is good news. I hope that more states will follow the lead of California and investigate Wells Fargo for identity theft. What would be even better is if some of the Federal agencies got involved as well such as the FTC and others. Keep up the pressure on Wells Fargo and hopefully the other big banks will get the message.

Justice League

A group of senators is already asking the Department of Justice to use a new policyto target individuals at Wells Fargo for corporate misconduct (and maybe even more) in the wake of the fake account scandal surrounding the bank.

The senators’ push for prosecution seems to focus mainly on the executives at Wells Fargo, including departed CEO John Stumpf, for their roles in setting up and overseeing an incentive program that led to the bank’s employees setting up millions of fake accounts in consumers’ names in order to get sales bonuses.

But the state of California is making a move that could lead to a whole new world of hurt for Wells Fargo, its current and former executives, and the 5,000 former employees who opened the fake accounts.

According to a report from the Los Angeles Times, which has been all over this scandalsince the beginning

View original post 155 more words

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