Another Wells Fargo Scandal Proves Our Financial System Is Still Broken

The prospect of a president who made a career out of scamming consumers has led to understandable fears that the next four years will present a bonanza of tricks, con games and deceptions unrestrained by federal regulators. But before we hyperventilate too much, we should recognize how this already describes our current reality to an uncomfortable degree.

Perhaps the best example of this recently has been the appalling Wells Fargo scandal, which you’ll be thrilled to know has not ended. Over the weekend The New York Timesreported on a similar fraud involving allegedly unauthorized life insurance accounts arising from a partnership between Wells Fargo and Prudential.

– The Fiscal Times

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