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Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
A complete list of Wells Fargo's bad headlines and woes since the fake account scandal broke in September 2016.
Three former Wells Fargo executives must pay $18.5 million for their role in the bank’s widespread fake sales accounts scandal that came to light nearly a decade ago. Based in San Francisco ...
Here's an overview of Wells Fargo's most notable scandals and missteps as CEO Tim Sloan testifies before the House Financial Services Committee.
More than 40 consumers have reported mysterious accounts opened in their names at Wells Fargo. One man says someone opened an account in his name and deposited thousands of dollars.
The company settled with the Consumer Financial Protection Bureau in December, agreeing to pay customers $2 billion and a record $1.7 billion fine for “widespread mismanagement” over multiple ...
U.S. banking giant Wells Fargo confessed to creating millions of fake accounts from 2002 to 2016. Now, new troubles have come to light.
Wells Fargo & Co has agreed to pay $3 billion (2.3 billion pounds) to resolve criminal and civil probes into fraudulent sales practices and has admitted to pressuring employees in a fake-accounts ...