Saturday, October 15, 2016

Despite accounts scandal investigation, Wells Fargo beats revenue expectations

All eyes are on Wells Fargo due to the ongoing investigation into its massive fake account scandal. With reports that more than 5,000 of the bank’s former employees opened more than 2 million fake accounts to get sales bonuses, the industry is definitely watching what’s going on. Despite that, Wells Fargo still managed to beat earnings expectations in the third quarter of 2016, partially thanks to a boost from strong mortgage originations.

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