Feds Investigate Wells Fargo
A U.S. official tells CNN that the Department of Justice has issued subpoenas to Wells Fargo over fake accounts opened by bank employees.
It’s not clear if the investigation will lead to charges, and Wells Fargo has declined to comment.
The news comes just days after the bank was hit with a $185,000,000 fine for creating more than two million fake accounts.
Wells Fargo says it fired 5,300 people in the past few years for improper sales tactics.
The scandal has raised questions about the sales culture that led to the opening of unauthorized accounts.
Employees tell CNN they experienced relentless pressure and unrealistic sales targets.