The Consumer Financial Protection Bureau (CFPB) fined Wells Fargo $100 million for the alleged secret opening of unauthorized deposit and credit card accounts. The CFPB alleges that, spurred by sales targets and compensation incentives, employees boosted sales figures by covertly opening accounts and funding them by transferring funds from consumers’ authorized accounts without their knowledge or consent, often racking up fees or other charges.

According to the CFPB, the bank’s own analysis allegedly revealed that employees opened more than two million deposit and credit card accounts that may not have been authorized by consumers. Wells Fargo will pay full restitution to all victims and a $100 million fine to the CFPB’s Civil Penalty Fund. The bank will also pay an additional $35 million penalty to the Office of the Comptroller of the Currency and another $50 million to the city and county of Los Angeles.

According to the Wall Street Journal, the CFPB said Wells Fargo terminated around 5,300 employees for “engaging in the improper sales practices”.

“Wells Fargo employees secretly opened unauthorized accounts to hit sales targets and receive bonuses,” said CFPB Director Richard Cordray. “Because of the severity of these violations, Wells Fargo is paying the largest penalty the CFPB has ever imposed. Today’s action should serve notice to the entire industry that financial incentive programs, if not monitored carefully, carry serious risks that can have serious legal consequences.”