Wells Farco suffers scandal fallout

It’s going to get worse for Wells Fargo before it gets better. In the wake of the biggest scandal in the bank’s 164-year history , distrustful customers are not opening as many checking accounts or applying for credit cards, and branch visits and meetings between customers and bankers are down, too. Wells has also been hit with several lawsuits from customers, employees and shareholders. There are calls from politicians for fraud charges against the bank. And Wells almost surely faces settlements and fines way beyond the $185 million it agreed to pay regulators when the scandal broke wide open last month/ Associated Press . More here .