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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]
Here's an overview of Wells Fargo's most notable scandals and missteps as CEO Tim Sloan testifies before the House Financial Services Committee.
Dirty Money is a Netflix original television series which tells stories of corporate corruption, securities fraud, and creative accounting. [1] All six one-hour long episodes began streaming on Netflix on January 26, 2018. [2]
Berkshire Hathaway kingpin Warren Buffett was keeping mum on the Wells Fargo & Co scandal -– until now.
(Reuters) -Wells Fargo said the U.S. Office of the Comptroller of the Currency has terminated a 2016 punishment for the bank’s sales practices, the bank said, after it spent years trying to ...
What happens if your bank opened up a fake account in your name – do you cancel the account or leave the fake account in your name?
He was named CEO in June 2007, elected to the board of directors in June 2006, and named president in August 2005. He became chairman in January 2010. Stumpf resigned as chairman and CEO of Wells Fargo on October 12, 2016, after a scandal involving customer accounts and subsequent pressure from the
The billionaire investor recently made his first public comment on Wells Fargo's bogus account scandal -- and he didn't mince words.