![]() ![]() Some signs that you may be a victim of unauthorized banking practices include overdraft fees, unexpected account fees, and interest charges.Įmployees may take money from one account to open another unauthorized account. However, there are signs that you can watch out for. Many of the banking customers who were affected by fake bank accounts opened in their name were unaware that these accounts had been opened. Signs That a Fake Bank of America Account May Have Been Opened in Your Name To date, they have declined to release the results of this investigation to the public, although a spokesperson has acknowledged the discovery of similar practices at other banks. ![]() The OCC has recently concluded a review of more than 40 other banks to investigate possible unauthorized banking practices and the creation of fake accounts. It now appears that the Office of the Comptroller of the Currency (OCC) believes that this issue may not have been confined to Wells Fargo. ![]() Earlier this year, the bank reached a $142 million settlement regarding these unauthorized accounts, and agreed to reform the unrealistic sales goals that prompted employees to open fake accounts. These deceptive actions left many customers with unexpected overdraft fees and interest charges. These practices included opening millions of fake accounts without customer consent and signing customers up for unnecessary services and unauthorized credit cards. After reports of fake accounts opened by employees were initially reported in 2016, Wells Fargo faced scrutiny over their unauthorized banking practices. ![]()
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