Search results
Results from the WOW.Com Content Network
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 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. The ...
Wells Fargo & Co will pay $65 million to settle claims that it misled investors about its "cross-selling" business strategy, according to officials.
A man purporting to be from Wells Fargo called Feldman in December 2023 and claimed that someone had used his credit card to make a purchase at a store in Florida.
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 bank examination.
The Wells Fargo cross-selling scandal involved fraudulent and unethical activities rather than just a mere "controversy." The use of the term "controversy" white washes the seriousness of the issue.The scandal was well-documented, and there is clear case of fraud.
The person she was speaking to on the phone was not a Wells Fargo rep, as she discovered when she went into the bank to confirm that she'd been talking to a legitimate customer service staff member.
This page was kept as a redirect to avoid breaking links, both internal and external, that may have been made to the old page name. When appropriate, protection levels are automatically sensed, described and categorized.