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Wells Fargo sales scandal points to industry-wide problem

One former employee at Chase Bank says he was pressured to meet sales targets in order to avoid getting fired, even if that meant opening questionable accounts
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Thousands of Wells Fargo Employees Fired for Creating 2 Million Fake Bank and Credit Card Accounts

Travel / Air Travel : View From the Wing

5300 employees of Wells Fargo have been fired for creating fake accounts since 2011 in order to earn bonuses for hitting sales targets. In total over 2 million fake accounts were opened using made up PINs and bogus email addresses f...

Labor Department will probe Wells Fargo; CEO forfeiting $41 million in stock

Lifestyle / Fashion : AOL: Style

Secretary of Labor Tom Perez on Tuesday said he would initiate a "top-to-bottom" review of labor practices at disgraced bank Wells Fargo — coming as CEO John Stumpf agreed to forfeit $41 million over a brewing sales scandal. Perez w...

Wells Fargo fined $185M over unauthorized bank accounts

Business & Finance : USAToday: Money

Wells Fargo employees created unauthorized bank accounts in order to boost sales, prompting the bank to fire 5,300 employees. Wells Fargo must pay massive fines and restitution to its customers.        

Republicans brand another villain in Wells Fargo scandal: the Consumer Financial Protection Bureau

Business & Finance : LA Times: Business

Wells Fargo & Co. Chief Executive John Stumpf took the full brunt of congressional anger over the bank’s fake-accounts scandal at a Senate hearing last week and will face more outrage on Thursday before a House panel. But this time,...

Wells Fargo fires thousands of workers for opening 2 million bogus bank accounts

News : The Raw Story

WASHINGTON — A federal banking industry regulator has fined Wells Fargo after its employees were found to have secretly opened deposit and credit card accounts in order to meet sales quotas. The Consumer Financial Protection Bureau ...


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