NPR

Wells Fargo Admits To Nearly Twice As Many Possible Fake Accounts — 3.5 Million

This revelation of more potentially unauthorized accounts will likely ratchet up the congressional and regulatory scrutiny Wells Fargo already faces. / Matt Rourke / Shutterstock.com

Wells Fargo just can't get past its fake account scandal.

On Thursday, the bank acknowledged it had created more bogus customer accounts than previously estimated. An outside review discovered that 1.4 million more potentially unauthorized accounts were opened between January 2009 and September 2016.

That brings the total to 3.5 million potentially fake accounts — two-thirds more than the

You're reading a preview, sign up to read more.

More from NPR

NPR3 min read
Fed Eyes Another Interest Rate Cut To Prop Up The Slowing Economy
The Federal Reserve is widely expected to cut interest rates by a quarter percentage point. That could give a lift to the stock market but may not do much to help the economy amid the trade war.
NPR2 min readSociety
U.S. Abortion Rate Continues Long-Term Decline
The rate fell again in the most recent Guttmacher Institute survey, continuing a decline since 1980.
NPR3 min read
Deadly Brain Cancers Act Like 'Vampires' By Hijacking Normal Cells To Grow
Researchers say certain brain cancers tap electrical signals from healthy cells to fuel their growth. The finding could lead to treatments for deadly tumors like the one that killed Sen. John McCain.