US CFPB,웰스파고은행 고객명의 허위계좌개설 협의 벌금 미화1억불 부과
US CFPB,웰스파고은행 고객명의 허위계좌개설 협의 벌금 미화1억불 부과
  • 황정민 기자
  • 승인 2016.09.16 10:07
  • 댓글 0
이 기사를 공유합니다

Hundreds of thousands of accounts secretly created by Wells Fargo Bank employees leads to historic $100 million fine from the CFPB

   
By Jeff Ehrlich




Today we fined Wells Fargo Bank $100 million for widespread unlawful sales practices. The Bank’s employees secretly opened accounts and shifted funds from consumers’ existing accounts into these new accounts without their knowledge or permission to do so, often racking up fees or other charges.

 

The Bank had compensation programs for its employees that encouraged them to sign up existing clients for deposit accounts, credit cards, debit cards, and online banking. According to today’s enforcement action, thousands of Wells Fargo employees illegally enrolled consumers in these products and services without their knowledge or consent in order to obtain financial compensation for meeting sales targets.

 

Bank employees temporarily funded newly-opened accounts by transferring funds from consumers’ existing accounts in order to obtain financial compensation for meeting sales targets. These illegal sales practices date back at least five years and include using consumer names and personal information to create hundreds of thousands of unauthorized deposit and credit card accounts.

The law prohibits these types of unfair and abusive practices.

Violations covered in today’s CFPB order include:

Opening deposit accounts and transferring funds without authorization, sometimes resulting in insufficient funds fees.

Applying for credit-card accounts without consumers’ knowledge or consent, leading to annual fees, as well as associated finance or interest charges and other late fees for some consumers.

Issuing and activating debit cards, going so far as to create PINs, without consent.

Creating phony email addresses to enroll consumers in online-banking services.

 

 

Enforcement Action

 

 
 
 
 
 


Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, we have the authority to take action against institutions that violate consumer financial laws. Today’s order goes back to Jan. 1, 2011. Among the things the CFPB’s order requires of Wells Fargo:

  • Pay full refunds to consumers.

  • Ensure proper sales practices.  

  • Pay a $100 million fine.

  •  

Today’s penalty is the largest we have imposed. Other offices or agencies are also taking actions requiring Wells Fargo to pay an additional $85 million in penalties.
 

 



댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • 서울특별시 서초구 반포대로23길 13 5층 L294호
  • 대표전화 : 02-6207-9500
  • 팩스 : (82)050-8090-0581
  • 청소년보호책임자 : 김혜리
  • 법인명 : (주)국제금융리서치
  • 제호 : 글로벌금융신문
  • 등록번호 : 서울 아 04358
  • 등록일 : 2017-02-07
  • 발행일 : 2017-01-11
  • 발행인 : 황동현
  • 편집인 : 황동현
  • 글로벌금융신문 모든 콘텐츠(영상,기사, 사진)는 저작권법의 보호를 받은바, 무단 전재와 복사, 배포 등을 금합니다.
  • Copyright © 2019 글로벌금융신문. All rights reserved. mail to industry@gfr.co.kr
ND소프트