High-ranking Wachovia bank executives knew about fraudulent and deceptive practices by one of its telemarketing firms, but continued to provide services to them anyway, The New York Times writes.

In contrast to denials by bank executives last spring, internal Wachovia e-mail and other documents show that Wachovia was alerted by other banks and federal agencies about deceptive practices, but the bank continued to provide services to multiple companies that collectively stole as much as $400 million from clients.

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