wells 03Worried about fake bank accounts in your name? Here’s what you need to know


This is a money.cnn.com article.


Wells Fargo customers are still reeling from the news that fraudulent accounts may have been opened in their names without their permission. But the reality is it can happen to anyone.

In early September, regulators hit Wells Fargo with $185 million in fines for creating millions of fake bank and credit card accounts from 2011-2015.

More than 5,000 employees have been laid off, and there have been calls for Chairman and CEO John Stumpf to step down.

But Wells Fargo (WFC) might not be the only bank opening unauthorized accounts.

A recent report from S&P Global that analyzed the Consumer Financial Protection Bureau’ consumer complaint database found unwanted credit cards are a common complaint among consumers from a variety of banks.

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