Search results
Results from the WOW.Com Content Network
The conduct management intake department at Wells Fargo was created in the wake of a scandal that erupted in 2016 when The Times reported bank employees had opened millions of fake deposit and ...
After Wells Fargo was mired in a 2013 scandal over employees who opened millions of fake banking accounts, the bank created a new centralized unit to review customer complaints and employees ...
Wells Fargo paid $3 billion in 2020 to settle federal criminal and civil probes into its sales practices, admitting it pressured employees over 15 years to sell more products, known as cross-selling.
Wells Fargo's business downturn dates to scandal. Wells Fargo began laying off workers in the wake of a fake accounts scandal in 2016, when regulators accused employees of opening accounts without ...
Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo, [1] from which she retired in 2016 before the company's account fraud scandal came to light. In 2017, Wells Fargo retroactively fired Tolstedt for cause. In 2023, she would plead guilty to obstructing a bank examination.
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]
Wells Fargo is also continuing to pull itself from a 2016 scandal in which employees had opened millions of fraudulent accounts, often to meet sales goals. As a result, federal regulators mandated ...
The news of a Wells Fargo employee's body being found in her cubicle four days after her death has sparked outrage and questions nationwide. Don't miss Car insurance premiums in America are ...