Wells Fargo fires more than 100 workers over relief fund abuse: Bloomberg News

(Reuters) - Wells Fargo & Co WFC.N has fired more than 100 employees for unethically getting coronavirus relief funds, Bloomberg News reported on Wednesday, citing a person with knowledge of the situation and an internal memo.

The bank found staffers who it believes defrauded the U.S. Small Business Administration “by making false representations in applying for coronavirus relief funds for themselves,” according to the Bloomberg report.

The abuse was tied to the Economic Injury Disaster Loan program and outside the employees’ roles at the bank, the report said.... (Read more)

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