wells_fargo_bank_521395962-02Wells Fargo Struggling in Aftermath of Fraud Scandal


This is a nytimes.com article.


Wells Fargo continues to struggle with the fallout from a phony accounts scandal that engulfed it last year.

The bank said on Friday that new credit card applications were down 43 percent in the fourth quarter of 2016 from a year ago, and that new checking account openings fell 40 percent.

The results reflected the first full quarter since September, when Wells, which is based in San Francisco, announced that its employees had, over the course of years, created as many as two million unauthorized credit card and checking accounts.

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