New Accounts Down In Wake Of Wells Fargo Fake Account Scandal

NEW YORK (AP) — Wells Fargo is still seeing fewer people at its bank branches as well as a decline in checking-account openings as the scandal over its sales practices takes its toll.

But there is a silver lining for the San Francisco bank: Its February numbers are up from December lows.

Wells Fargo said Monday that customers opened 40 percent fewer checking accounts last month compared to a year earlier, while the number of customer interactions with branch bankers was down 17 percent. The numbers are similar to those it has been reporting since it started giving monthly updates late last year.

There were some improvements. While account openings were down sharply from a year earlier, they were up slightly from January. Internal customer loyalty and satisfaction scores also improved.

© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS San Francisco

Get The New CBS SF Bay Area Local App
Got Our Weather App?

Watch & Listen LIVE