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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 ...
Three former Wells Fargo executives must pay $18.5 million for their role in the bank’s widespread fake sales accounts scandal that came to light nearly a decade ago. Based in San Francisco ...
Wells Fargo & Co has agreed to pay $3 billion (2.3 billion pounds) to resolve criminal and civil probes into fraudulent sales practices and has admitted to pressuring employees in a fake-accounts ...
Here's an overview of Wells Fargo's most notable scandals and missteps as CEO Tim Sloan testifies before the House Financial Services Committee.
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]
(Reuters) -The former head of Wells Fargo's retail bank on Friday avoided prison time after pleading guilty to an obstruction charge related to the bank's sweeping fake-accounts scandal. Carrie ...
Wells Fargo's business downturn dates to scandal. Wells Fargo began laying off workers in the wake of a fake accounts scandal in 2016, when regulators accused employees of opening accounts without ...
A former Wells Fargo senior vice president has sued the bank, accusing it of retaliation after her complaints of sexual misconduct by a higher-ranking employee.