As the tally of fake Wells Fargo accounts balloons to 3.5 million, Congress has yet to discipline the executives, while the financial giant has only paid fines. A coalition of 33 groups is now demanding new hearings and for the bank to be held accountable.
Wells Fargo and Company increased its estimate of how many accounts were created by 67 percent Thursday. The mega bank issued shocking new disclosures, showing 1.4 million more bogus customer accounts had been created, a significant increase from previous estimates, the New York Times reported.
In addition, Wells Fargo admitted to yet another impropriety, stating that they enrolled more than a half-million customer account into their online bill pay service without notifying them. The embattled bank has since agreed to pay out $910,000 to customers who accrued fees or charges related to the unknown accounts.
“We are working hard to ensure this never happens again and to build a better bank for the future,” Wells Fargo CEO Timothy J. Sloane said in a statement, the Times reported.
There has not yet been word if executives with the bank will be summoned back to Washington to face lawmakers for yet another round of questioning following last year’s Capitol Hill hearing with then-CEO John Stumpf.