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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 & Co will pay $65 million to settle claims that it misled investors about its "cross-selling" business strategy, according to officials.
For almost two years, Wells Fargo has been under near-constant fire. Now, Now, former advisors in the wealth management area of the Private Bank, which caters to high-net-worth investors, have ...
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A Wells notice is a letter that the U.S. Securities and Exchange Commission (SEC) sends to people or firms at the conclusion of an SEC investigation that states the SEC is planning to bring an enforcement action against them.
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• Fake email addresses - Malicious actors sometimes send from email addresses made to look like an official email address but in fact is missing a letter(s), misspelled, replaces a letter with a lookalike number (e.g. “O” and “0”), or originates from free email services that would not be used for official communications.
Wells Fargo has agreed to work with U.S. bank regulators to shore up its financial crimes risk management, including internal controls related to suspicious activity and money laundering. Wells ...