Wells Fargo created fake accounts under real customers' names. But sure, crypto needs to be better regulated.

https://www.forbes.com/sites/jackkelly/2020/02/24/wells-fargo-forced-to-pay-3-billion-for-the-banks-fake-account-scandal/?sh=34c8a0b942d2

This is an older article but it does a nice job summarizing the massive scandal Wells Fargo perpetrated on their customers.

"Wells Fargo executives pressured rank-and-file bank personnel to aggressively cross-sell products to enhance sales and revenue to meet certain quotas. Deception reared its ugly head when Wells Fargo employees then created millions of savings and checking accounts for customers without their knowledge or approval."

This wasn't just something that boosted their numbers and had no impact on the customers. Customers started being charged fees on accounts they didn't know they had.

It's five years since it started and although Wells Fargo has had to pay fines, no one from Wells Fargo (that I've found) has gone to prison for this clearly illegal behavior.

The fact that one of the largest banks in America can do this, and 5 years later they are still one of the biggest banks in America is incredibly sad and frustrating. Hopefully, crypto can make scandals like this a thing of the past.