Wells Fargo Fires About 5,300 Workers in Account Scandal

The bank was fined nearly $200 million and at least 5,300 employees were fired for illegal banking practices.
1:18 | 09/09/16

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Transcript for Wells Fargo Fires About 5,300 Workers in Account Scandal
We also have a big bank headline this morning. Wells Fargo fined nearly $200 million for setting up millions of fake accounts. Rebecca Jarvis has the details and joins us with that. Tell us what happened here, Rebecca. Good morning, robin. This is truly outrageous. Thousands of Wells Fargo employees at bank branches across the country opened millions of illegal accounts and they did it by using real customer accounts, real customer money and seeding them with that money and covered their tracks up by creating fake e-mail addresses, phony P.I.N. Numbers and did all of this over the course of five years and managed to get away with it for five years straight, 5,300 wells Fargo employees have been fired as a result and paid that record penalty, $185 million but I bet a lot of people out there are wondering how do I get my money back? Well, Wells Fargo tells me they're putting it directly back into customer accounts and say they will pay about $5 million, robin, back to customers as a result of this scam. The trust is broken. All right. 5,000 people -- I don't know. I don't know. That -- that leads to another question. How could they not know with 5300 employees involved? Absolutely. We're also following the

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