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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 ...
A Wells Fargo & Co employee filed a lawsuit on Thursday accusing the bank of depriving hundreds of its U.S. branch workers of overtime pay, as the bank faces an unprecedented campaign to unionize ...
Wells Fargo's share price fell 10.2% over two days in June 2022, wiping out more than $17 billion of market value, after the New York Times reported the Justice Department probe.
Following the death of 60-year-old Wells Fargo employee Denise Prudhomme, who was found dead days after clocking into her Arizona office in August, one union didn't mince words when it came to the ...
Banking executive. Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo, [1] from which she retired in 2016 before the company's account fraud scandal came to light. In 2017, Wells Fargo retroactively fired Tolstedt for cause. In 2023, she would plead guilty to obstructing a ...
But the grip of America’s busy-work culture is proving harder to shake. See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard ...
In October 2014, a Wells Fargo employee earning $15 per hour emailed the CEO—copying 200,000 other employees—asking that all employees be given a $10,000 per year raise taken from a portion of annual corporate profits to address wage stagnation and income inequality. After being contacted by the media, Wells Fargo responded that all ...
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]