“This month federal regulators fined Wells Fargo $185 million for opening checking and credit card accounts on behalf of customers who had no idea that was happening. The bank has promised to try to make restitution. But that's a lot harder than it sounds. A big question is how to compensate people whose credit scores were hurt by what the bank did. Regulators say that over a five-year period some 2 million credit card and deposit accounts were opened that may not have been authorized by the bank's customers. And though no one knows for sure, it's almost certain that the accounts had a big impact on customers' credit scores.”
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