From this point wells fargo focused primarily on the

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nationalized and turned into the Railway Express Agency (REA). From this point, Wells Fargo focused primarily on the financial market. As it grew, it acquired multiple smaller banks and merged them into its own brand name. By 2015, they were the largest bank in the U.S. by market capitalization. (Wikipedia, 2017)Fraud OverviewIn 2016, Wells Fargo made national news for account fraud. The employees, under pressure to increase metrics, were creating checking and savings accounts for customers, as well as opening credits cards, without customer authorization or knowledge. Over 1.5 million accounts were created, and over a half million credit cards opened. More than 5,000 employees were fired as a result, and the company was fined a total of $185 million. Both the department head and the company’s CEO retired due to the negative publicity, and trust in Wells Fargo plummeted. JP Morgan Chase advanced during this time, which is why Wells Fargo is now the second largest bank in the U.S. by market capitalization, instead of the largest. (Wikipedia, 2017)
COMPANY OVERVIEW3ReferencesWikipedia. (2017, November 7). Wells Fargo. Retrieved November 12, 2017, from

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