Could the Wells Fargo Bank scandal have been avoided? A federal regulator says yes

A federal agency looking into the Wells Fargo bank scandal admits it made errors in their investigation.

In a report issued by the Office of the Comptroller of the Currency, they admit they ignored the complaints of over 700 whistle blowers regarding questionable sales practices of Wells Fargo as far back as 2010.

Bank employees were instructed to open up over two million accounts without getting customers' permission in a practice known as "cross selling"...setting up accounts on multiple products that customers didn't know about.

In spite of this knowledge, OCC declined to investigate the matter further.

Wells Fargo was levied a one hundred eighty five million dollar fine for their role in the high pressure sales tactics.

OCC has since removed its most senior bank examiner for Wells Fargo since the scandal broke last September.

The report backs up findings by the bank in an internal investigation they conducted and issued last week.