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The CFPB, citing an analysis by Wells Fargo, said bank employees may have opened as many as 1.5 million checking and savings accounts, and more than 500,000 credit cards, without customers’ authorization.The investigations found that employees illegally transferred funds from genuine accounts into unauthorized ones, created PINs for unwanted debit cards and made up bogus email addresses to secretly sign customers up for online banking.Apple is killing you, but we'll never forget the decades we shared UPDATES: p.m.: This article was updated throughout with additional details and comments. a.m.: This article was updated with comments from CFPB Director Richard Cordray and additional details. a.m.: This article was updated with additional details and comments from Los Angeles City Atty.
I had to pay that off,” said Van Vort, who now lives in upstate New York.The bank will send notices to customers asking them to stop by a branch so that employees can help “close any accounts or discontinue services you do not recognize or want.”Bank spokeswoman Mary Eshet said the bank has already lowered sales goals, worked to structure employee incentives around customer satisfaction and hired more workers to monitor its sales staff.She said the bank has also started a “mystery shopper” program to look for bad behavior.Richard Cordray, director of the CFPB, said Thursday that those actions were so abusive and so widespread that the agency levied its largest fine to date.“It reflects the severity of these violations, the breadth of the unfair and abusive practices and how seriously we take them,” Cordray said.“We found this conduct to be quite surprising.”The bank had consistently said such practices were not widespread and that workers who cheat to meet sales goals are disciplined or fired.