Wells Fargo just lost its accreditation with the Better Business Bureau

Among all of the indignities Wells Fargo has sustained in the wake of its illegal sales scandal, the bank is now out of good standing with a leading consumer watchdog group.

The San Francisco-based lender is no longer accredited by the Better Business Bureau, making it possibly the biggest business ever to fall into that category.

"Nobody can recall a company of this size, this scope, losing their accreditation," Thomas Bartholomy, CEO of the Better Business Bureau of Southern Piedmont, told WCNC, the NBC affiliate in Charlotte, North Carolina.

The BBB website lists Wells Fargo as "not BBB accredited" and gives it a grade of "C-" on a scale of "A+" to "F." The bureau reports 4,105 total complaints against the bank in a three-year period including 1,201 in the past year.

Of the 107 reviews on the site, all but four are negative.

Those numbers, though, aren't particularly unusual. Citigroup, for instance, has 4,354 complaints in the same period and isn't accredited, though it isn't clear whether the bank ever sought the BBB's stamp of approval. It has no letter grade.

Bank of America, by contrast, is accredited with an "A+" rating. Still, it has seen 6,315 complaints closed against it over the same three-year period.

Read More: http://www.cnbc.com/2016/10/20/wells-fargo-just-lost-its-accreditation-with-the-better-business-bureau.html
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