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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]
(Reuters) -Wells Fargo & Co was accused in a lawsuit filed on Tuesday of mismanaging its employee health insurance plan and forcing tens of thousands of U.S. employees to overpay for prescription ...
The controversial regulator alleges the banks failed to prevent fraud on Zelle, a payment platform they co-own. JPMorgan Chase, Bank of America, and Wells Fargo sued over Zelle scams that cost ...
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.
Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers ...
Map of Wells Fargo branches in August 2015 Wells Fargo branch in Berkeley, California A former Wachovia branch converted to Wells Fargo in the fall of 2011 in Durham, North Carolina American Express Co. early receipts (1853, 1869) Stagecoach with Christmas gifts at a Wells Fargo Bank, San Francisco Wells Fargo & Co. Express building circa 1860, Stockton, California Mud wagon — Wells Fargo U ...
Timothy J. Sloan (born 1959/60) is an American banker. He was the chief executive officer (CEO) of Wells Fargo from October 2016 until he resigned in March 2019, after significant pressure related to an ongoing controversy related to an account fraud scandal.
Using two checks provided by Wells Fargo would surely facilitate a simple transaction of $25,000, or so Monroe expected. But Monroe’s account with Wells Fargo was a checkless bank account.