Wells Fargo wasn’t alone – other US banks also opened unauthorized accounts

A federal regulator determined Wells Fargo wasn’t the only U.S. bank that opened accounts not authorized by customers –  but has no plans to identify the institutions publicly.

A review of roughly 40 banks found that as many as 10,000 customer accounts opened during a three-year period lacked customer authorization, Joseph Otting, the U.S. Comptroller of the Currency, testified during congressional hearings this week.

The banks did not have paperwork to show whether customers had authorized approximately 10,000 other accounts, Otting said.

Read on.

One response to “Wells Fargo wasn’t alone – other US banks also opened unauthorized accounts

  1. Reblogged this on California freelance paralegal and commented:
    They should publicly identify all of the banks that opened unauthorized accounts.

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