Summary: Wells Fargo was fined $100 million by the Consumer Financial Protection Bureau for the widespread illegal practice of opening unauthorized deposit and credit card accounts. The CEO of Wells Fargo encouraged his employees to open eight accounts. He sated "eight rhymes with great". Employees boosted sales figures by covertly opening accounts and funding them by transferring funds from consumers’ authorized accounts without their knowledge or consent, often racking up fees or other charges. According to the bank's own analysis employees may have opened more than two million deposits. The bank will pay the full amount to their victims in attention to an extra $35 million penalty to the office of the comptroller of the currency and another $50 million to the city and country of Los Angeles.
Analysis: This article was press release by an official web sight of the united states government. This synthesizes to when to colonist were taxed without representaion from the British government. Here the employees were opening accounts without the customers consent. Just like the British government was taxing the colonist because all the the war debt they couldn't pay.
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