The law of unintended consequences states that for every action, there will be three unintended consequences, and one of them will be particularly unpleasant. The movement in banking toward increased use of analytics and data-driven decisions is a case in point.

The Los Angeles Times recently reported that at Wells Fargo, where employees are pushed to sell eight products and services to each customer household, staff have opened hundreds of unneeded and unrequested accounts for customers, ordered credit cards without customers' permission and forged client signatures on paperwork.

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