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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]
All along the way, moreover, those employees who didn't feel comfortable committing fraud and who blew the whistle to Stumpf, the bank's "ethics" line, its human resources department, or to Wells ...
John Gerard Stumpf (born September 15, 1953) [2] is an American business executive and retail banker. He was the chairman and chief executive officer of Wells Fargo, one of the Big Four banks of the United States.
Wells Fargo's board of directors will release its investigation into the bank's fraudulent accounts scandal, pinning blame on two former executives.
Warren demanded the executive's resignation on Tuesday -- and even called for a criminal investigation. Elizabeth Warren demands Wells Fargo CEO John Stumpf's resignation in heated hearing Skip to ...
Wells Fargo is embroiled in a scandal over the opening of sham accounts and was sued on Friday by customers who accused the bank of fraud. Wells Fargo CEO to take 'full responsibility' in Senate ...
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The bank's board of directors is examining what action it should take against company executives, Stumpf told the Senate Banking Committee. Wells Fargo CEO accepts responsibility for 'unethical ...