Sentences with phrase «phony accounts for»

When various lawmakers lit into John Stumpf at a congressional hearing last fall, each seemed to find a fresh way to flay the now - former CEO of Wells Fargo for failing to stop some 5,000 employees from setting up phony accounts for customers.

At a Senate banking committee hearing on Capitol Hill on Tuesday, Warren argued that current Wells Fargo CEO Timothy J. Sloan should be fired too since he was part of the culture that encouraged employees to create millions of phony accounts for customers without their knowledge or consent.

Not exact matches

Employees at the bank received incentives for opening the phony accounts in order to hit sales targets.

A scam artist can create a phony business for a self - directed IRA and bleed the account dry.

The article said that numerous employees had been fired for creating phony customer accounts in order to meet aggressive sales goals.

Though it had little impact on the bank's bottom line, a phony accounts scandal dominated 2016 for Wells Fargo, which continues to deal with the costs and fallout stemming from its aggressive sales tactics.

• However, front - line workers were so afraid of failing to meet quotas that hundreds turned to falsifying results — for example, opening phony accounts.

But teachers who took part in the focus groups also had concerns that a new system would rely too heavily on standardized test results, that evaluations from time - crunched principals could be «phony,» and that a new system would not account for students slipping in school because of factors outside a school's control, such as a divorce or death in the family.

Phishing emails often use a phony website to lure victims to give up their card or bank account numbers, so never give out this information to anyone who asks for it, unless the email is coming from a trusted source.

The phony text messages create the impression that there is an urgent need for the consumer to take immediate action to update personal information to avoid some threat or risk to the consumer's personal accounts.