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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]
Commercial real estate has beaten the stock market for 25 years — but only the super rich could buy in. ... a Wells Fargo number saying that I had fraudulent activity on my account and that a ...
Timothy J. Sloan (born 1959/60) is an American banker. He was the chief executive officer (CEO) of Wells Fargo from October 2016 until he resigned in March 2019, after significant pressure related to an ongoing controversy related to an account fraud scandal.
In April 2017, Wells Fargo's board of directors released a report on the account fraud scandal accusing Tolstedt of downplaying problems at Wells Fargo's banks. The same report recommended that the bank take back $47.3 million in stock options Tolstedt had received, in addition to $19 million they had already taken back from her. [2]
Wells Fargo (NYSE: WFC) was one of the best opportunistic investments I've ever made. I bought the stock in mid-2020 when the COVID-19 lockdowns were still going on. At the time, there was ...
But Wells Fargo bought out those companies in 2008 and became responsible for the loans. ... Grab the weekend's highest APYs of up to 4.75% for fast, safe growth ... 8 common money mindsets ...
The Consumer Financial Protection Bureau today announced it is suing three major banks and Early Warning Services, the bank-owned consortium that runs the popular payment app Zelle.
However, it became defunct after the 2003 mutual fund scandal amid charges of improper mutual fund trading. In May 2004, the firm agreed to pay $80 million in restitution to investors, and founder/CEO Richard Strong agreed to personally pay an additional $60 million. Two other executives were also sanctioned and fined.