Earlier quoted context omitted.
I do know about this story. The purpose of the fake accounts was to meet sales quotas. Fees earned for the bank were accidental and usually nonexistent, for the obvious reason that if you charge your unwitting customer money, they are much more likely to realize they have an account with you.
>"Fees earned for the bank were accidental and usually nonexistent," "Approximately 85,000 of the accounts opened incurred fees, totaling $2 million. Customers' credit scores were also likely hurt by the fake accounts.[43] The bank was able to prevent customers from pursuing legal action as the opening of an account mandated customers enter into private arbitration with the bank." "The bank paid $110 million to consu…
> "The bank was able to prevent customers from pursuing legal action as the opening of an account mandated customers enter into private arbitration with the bank."
That's really not going to work if the customer didn't intend to open the account. The fact that (by your numbers) average damages among those who were damaged at all were up to $23.50 may have had more to do with lack of legal action by customers.