Lawsuit Claims Wells Fargo Targeted Undocumented Immigrants for False Accounts

23 min
at 9:00 AM
Customers use a Wells Fargo ATM at one of their bank branches on September 9, 2016 in Miami, Florida.  (Photo: Joe Raedle/Getty Images)

Last year, San-Francisco based Wells Fargo admitted to creating up to 2 million fraudulent accounts to meet aggressive sales goals. As investigations into the company's wrongdoing continue, a lawsuit filed in San Francisco against the company’s top executives on Wednesday alleges that the bank’s wrongdoing may have run deeper. According to the lawsuit, Wells Fargo specifically targeted undocumented day laborers and factory workers for the false accounts, in possible violation of identity-verification requirements. We'll discuss the latest accusations against Wells Fargo.

Guests:

Thomas Lee, columnist, San Francisco Chronicle

Sponsored