Bank Controversy
XAT 2017 · General Knowledge · Easy · General Knowledge
Which of the following banks is recently in the news because its employees opened additional relationship accounts without its customer's permission?
- A.
Citibank
- B.
HSBC
- C.
Standard Chartered
- D.
Wells Fargo
- E.
Bank of Nova Scotia
Answer
D
Explanation
Employees of Wells Fargo opened over 2 million unauthorized accounts to meet sales targets and earn bonuses. When the issue came to light in 2016, Wells Fargo fired over 5,300 employees. Therefore, option D is the right answer.
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