Meanings of phony accounts in inglês

Wells Fargo is still under scrutiny more than a year after a phony accounts scandal.

The number of phony accounts has grown to as many as 3.5 million.

Twitter's relations with advertisers have been strained by concerns about phony accounts bought by users to boost their following.

Car buyers may have been wrongly double-charged for insurance, while the phony accounts scandal involved more customers than first thought.

Last year, the bank paid a record $100 million fine to the CFPB over an earlier phony accounts scandal.

The findings come nearly a year after Wells Fargo reached a $190 million settlement with regulators over phony accounts.

The CFPB recently was part of a $190 million settlement with Wells Fargo, which was accused of creating phony accounts.

At that time, Stumpf said, managers came to recognize how a pattern of creating phony accounts could be used to boost unwarranted fees.

The bank revealed over two years ago that it opened millions of phony accounts in customers' names without their permission to hit sales targets.

But since 2016 it has had to grapple with a phony accounts scandal and other customer abuse issues, including in its wealth management business.

Wells Fargo reached a $190 million regulatory settlement over the phony accounts in September, and parted ways with Stumpf the following month.

Since the phony accounts scandal, Wells Fargo has said it found abuses in auto insurance, small business loans, mortgage lending and other business lines.

At that time, Stumpf said, bank executives came to recognize how a pattern of creating phony accounts could be used to boost unwarranted fees.

In September, Wells Fargo admitted that its employees opened as many as 2.1 million phony accounts without customer approval.

The scandal over phony accounts first erupted last September, when Wells Fargo reached a $190 million settlement with regulators over the matter.

Senators also flagged problems involving the bank's auto insurance and mortgage fees that came to light months after Wells Fargo disclosed the potentially phony accounts.