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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]
Breaking is a 2021 American thriller drama film starring John Boyega as a Marine Corps veteran, Brian Brown-Easley, who is in financial trouble and robs a bank. It is written and directed by Abi Damaris Corbin and co-written by Kwame Kwei-Armah, based on the true story of Brown-Easley, detailed in the 2018 Task & Purpose article "They Didn't Have to Kill Him" by Aaron Gell.
Wells Fargo is settling a class-action lawsuit from shareholders for $1 billion over claims the ... The fake sales scandal was the first of a number of activities by Wells Fargo that fell under ...
The scandal severely tarnished the reputation of San Francisco-based Wells Fargo, which eight years ago was considered one of the best run banks in the country by investors and analysts.
In 2000, he led the integration of Wells Fargo's acquisition of the $23 billion First Security Corporation, based in Salt Lake City. In May 2002, he was named Group EVP of Community Banking. In December 2008, he led one of the largest mergers in history with the purchase of Wachovia. [7] Stumpf became CEO of Wells Fargo in June 2007 and ...
The scandal also toppled former Chief Executive John Stumpf, who in 2020 paid a $17.5 million civil fine and accepted a lifetime industry ban, and led the Federal Reserve in 2018 to cap Wells ...
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]
Wells Fargo's latest scandal could be of concern to investors after the Federal Reserve capped the bank's ability to grow amid inadequate risk controls. Wells Fargo dominated headlines when the ...