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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]
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 ...
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Wells Fargo's stock is up 12% this year, outperforming all big bank rivals and within sight of an all-time high.One big reason: Investors believe the San Francisco lending giant is slowly starting ...
More than 16 million people are owed some serious cash from Wells Fargo. If you happened to be a customer of the banking institution during the period of 2011 to 2022, this could apply to you ...
U.S. banking giant Wells Fargo confessed to creating millions of fake accounts from 2002 to 2016. Now, new troubles have come to light.
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 scandals: The complete timeline Skip to ...
July 21 (Reuters) - The U.S. Department of Labor on Friday ordered Wells Fargo & Co to pay $575,000 and to rehire a whistleblower the bank had dismissed in September 2011 after the former employee ...