New Accounts Down In Wake Of Wells Fargo Fake Account Scandal

NEW YORK (AP) -- Wells Fargo is still seeing fewer people at its bank branches as well as a decline in checking-account openings as the scandal over its sales practices takes its toll.

But there is a silver lining for the San Francisco bank: Its February numbers are up from December lows.

Wells Fargo said Monday that customers opened 40 percent fewer checking accounts last month compared to a year earlier, while the number of customer interactions with branch bankers was down 17 percent. The numbers are similar to those it has been reporting since it started giving monthly updates late last year.

There were some improvements. While account openings were down sharply from a year earlier, they were up slightly from January. Internal customer loyalty and satisfaction scores also improved.