Wells Fargo's estimate for unauthorized accounts jumps 67 percent, to 3.5 million
by By Samantha Masunaga and James Rufus Koren, Los Angeles Times
Aug 31, 2017
3 minutes
LOS ANGELES - Wells Fargo & Co. potentially opened 3.5 million accounts in customers' names without those customers' knowledge or consent - far more than the 2.1 million that were previously identified, according to an independent review, the San Francisco bank said Thursday.
The 3.5 million figure echoes an estimate given in the spring by attorneys in a class-action lawsuit with the bank. They negotiated a settlement based on that figure, so Wells Fargo is not expected to face vast additional payouts.
The bank said Thursday that the analysis by PwC, which
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