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Wells Fargo Bankers, Chasing Bonuses, Overcharged Hundreds of Clients

November 28, 2017 12:50 am

The whispers among employees had been around for years. They finally heard some facts during a conference call in June led by managers in Wells Fargo & Co.’s foreign-exchange operation: Some of its business customers had been cheated, according to two employees who were on the call.

An internal review showed that out of roughly 300 fee agreements based on anything from informal handshakes to emails to signed documents, only about 35 companies were charged the actual price they had been offered for currency trades handled…

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Categorised in: Economics