5,300 Wells Fargo employees fired over 2 million phony accounts- Larissa Perez

Summary: 5,300+ employee's from Wells Fargo were making false accounts just to get a raise and making others pay for it. This has been going on since 2011. The false accounts were a way for Wells Fargo employee's to boost their sales and make more money. Wells Fargo confirmed that they had fired 5,300 employee's over the last few year because they had discovered they were making phony accounts. Employee's went so far that they made up false email/numbers/and pin numbers to get more customers. So many people found this scandal shocking. Over 1.5 million account were believed to be opened and not authorized. The way they pulled this off was by moving funds from existing real accounts to the fake accounts to make it look real. The other part of the scandal was making credit cards for customers without their consent. Wells Fargo has promised that they will pay "full restitution's to all victims." At Wells Fargo they are now doing their best to repay everyone in full and they are taking action immediately. After this scandal their has been a decline in their customer because of what happened to them.

Analysis:  This article was published on September 9, 2016 by Matt Egan. After reading this article I thought of all the families and people that have been affected by this. I also commend Wells Fargo on the actions they are taking to make things right with the customers employee's did wrong by. However I am not surprised that their customers have decline because news travels fast and gets to people. 

Link: http://money.cnn.com/2016/09/08/investing/wells-fargo-created-phony-accounts-bank-fees/