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Finance & banking
What the case was
2016 & 2020
Conduct toward the regulator
Roughly
1.5 million unauthorised deposit accounts and
623,000 credit card accounts opened without customers' knowledge. The bank later admitted that between 2002 and 2016 it had
falsified bank records, harmed customers' credit ratings and misused their personal information
2728
Sanction
$185m, then $3bnCFPB/OCC/Los Angeles 2016; DOJ and SEC, February 2020 2728
Sources
The sources for this case. Numbering matches the full record.
- PrimaryPrimary document. US Department of Justice, Wells Fargo Agrees to Pay $3 Billion to Resolve Criminal and Civil Investigations into Sales Practices Involving the Opening of Millions of Accounts Without Customer Authorization, February 2020. justice.gov
- PrimaryPrimary document. Consumer Financial Protection Bureau, enforcement action: Wells Fargo Bank, N.A. (2016). consumerfinance.gov
This page summarises published documents — decisions of independent bodies, official statements, and reporting by established news organisations. It is a factual record compiled for information, not legal advice, and carries no affiliation with any club, league or regulator. Where a case is under appeal or its sanction undecided, it is marked as such and should be read as unresolved.
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