This practice has been going on since 2013 to meet sales goals. Forced to commit acts of fraud to keep their jobs, tellers opened accounts without the client’s knowledge. This time the Consumer Financial Protection Bureau is filing a lawsuit against Fifth Third Bank for allegedly opening fake accounts without consumer consent. As usually, no one (in upper management) is going to jail.
The CFPB alleges Fifth Third employees created fake deposit and credit card accounts, and transferred money back and forth between consumers’ existing accounts and the fake ones in order to be credited for sales.The Ohio-based Fifth Third’s incentive-based pay structure encourages its employees to “cross-sell” products and convince customers to sign up for more services, the CFPB said.
https://www.cnn.com/2020/03/10/business/fifth-third-cfpb-lawsuit/index.html
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