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Wells Fargo and its data privacy faux pas

Tom Fox | July 24, 2017

Wells Fargo continues to be in the news these days and not for the better in the way of its reputation.

Earlier this month, the bank engaged in yet another mistake for which they took a reputational hit and may well face regulatory scrutiny in the United States and across the globe. The New York Times reported this month that lawyers for the bank inadvertently produced 1.4 gigabytes of information containing “spreadsheets with customers’ names and Social Security numbers, paired with financial details like the size of their investment portfolios and the fees the bank charged them.”

The number of customers whose information was inadvertently released was reportedly over 50,000. Making this all the more remarkable was that the documents were voluntarily released in civil litigation in which the bank is not a party, involving a defamation claim brought...

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