Wells Fargo(NYSE: WFC) released data on Thursday showing that new account openings have dropped, but that few customers are closing their accounts in the wake of revelations that employees at the bank opened up to 2 million fake accounts for customers from 2011 to 2015.
“Trends continued as expected in October, with relatively stable deposit balances and transaction levels, but slower new account openings,” said consumer banking head Mary Mack. “Because the sales practices settlement was announced on September 8th, October data reflects the first full month of impact.”
