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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]
Wells Fargo’s fake-accounts scandal created a national firestorm in 2016. In 2020, it settled with the SEC for $3 billion over the fake accounts. ... For more CNN news and newsletters create an ...
(Reuters) -The former head of Wells Fargo's retail bank on Friday avoided prison time after pleading guilty to an obstruction charge related to the bank's sweeping fake-accounts scandal. Carrie ...
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.
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 ...
July 21 (Reuters) - The U.S. Department of Labor on Friday ordered Wells Fargo & Co to pay $575,000 and to rehire a whistleblower the bank had dismissed in September 2011 after the former employee ...
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More than 16 million people are owed some serious cash from Wells Fargo. If you happened to be a customer of the banking institution during the period of 2011 to 2022, this could apply to you,...