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Ethical Allegations: The Case Of Wells Fargo

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Ethical Allegations: The Case Of Wells Fargo
Wells Fargo has been in the news lately over ethical allegations that the bank’s employees, driven by strict sales quotas, regularly opened new accounts for customers without their knowledge. City and federal officials have reached a settlement of at least $150 million with Wells Fargo. The settlement, according to documents reviewed by The Times, calls for the San Francisco banking giant to pay $50 million in penalties to local officials and to compensate account holders for fees related to bogus accounts, though the bank will not admit any wrongdoing, Wells Fargo will also pay more than $100 million in penalties to federal regulators and agree to change its sales practices. When your employees feel pressured to the point where they have to
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