Lawyers say Wells Fargo created about 3.5 million fake accounts
SAN FRANCISCO (AP) - Lawyers suing Wells Fargo on behalf of customers say the bank may have opened about 3.5 million unauthorized accounts.
That's far more than the about 2 million possibly unauthorized accounts than the bank and regulators disclosed last year
In a court filing late Thursday, lawyers representing customers told a federal judge in San Francisco that they believe bank workers created 3.5 million unauthorized accounts over the last 15 years.
A bank spokesman said the lawyers' new estimation was unverified and based on a hypothetical scenario. The bank declined further comment.
The lawyers including the new estimate in a court filing asking a judge to approve a $142 million settlement.
Last month, the bank said it discovered the problem dated back to 2002 and increased the settlement amount from $110 million.