Wells Fargo Finds More Fake Accounts

The transcript discusses Wells Fargo's review of accounts, revealing 3.5 million bogus accounts. It highlights the geographical concentration of the issue, management changes, and Warren Buffett's involvement. Senator Warren criticizes the board, and the role of the CFPB is debated, with Republicans questioning its effectiveness.

What was the total number of bogus accounts found by Wells Fargo after re-examining old accounts?

• 3.5 million

• 180 million

• 165 million

• 1.4 million

Which geographical area was primarily affected by the Wells Fargo bogus accounts scandal?

• The East Coast

• The South, including Florida and Georgia

• The Midwest

• The West, including Los Angeles and Arizona

What was Warren Buffett's reaction to the Wells Fargo scandal?

• He sold all his shares in Wells Fargo.

• He praised the bank for their transparency.

• He criticized the bank's management for their inadequacy.

• He remained silent on the issue.

What was the record fine imposed on Wells Fargo by the CFPB?

• $200 million

• $100 million

• $180 million

• $185 million

What is the main criticism against the CFPB regarding the Wells Fargo scandal?

• The CFPB supported Wells Fargo's actions.

• The CFPB was too harsh on Wells Fargo.

• The CFPB failed to discover the issue independently.

• The CFPB imposed an excessive fine.