Wells Fargo Finds an Extra 1.4 Million Fake Accounts

The transcript discusses Wells Fargo's scandal involving 1.4 million fake accounts, which has grown to 3.5 million unauthorized accounts. The issue is primarily reputational, with Congress showing interest in regulatory changes. Warren Buffett, a major investor, acknowledges the bank's mistakes but remains supportive. The financial and legal implications are uncertain, with ongoing lawsuits and refunds. The discussion also touches on whether Wells Fargo has become too large, with some lawmakers advocating for stricter regulations.

What was Warren Buffett's perspective on Wells Fargo's situation?

What implications do the ongoing scandals at Wells Fargo have for the bank's future?