Wells Fargo's Ethical Dilemma

There were 5300 employees that created fake accounts to get sales. It is said that Wells fargo is bank that is made based on trust and ethics. Mr. Stumpf says that it is impossible to do a perfect job with a company that employs hundreds of thousands. The senate banking committee members do not understand how more than five thousand could builk customers over the course of five years and if employees were doing this because it was a form compensation incentivized by the employers to engage in abusive practices. Investors do not seem to be worried because in dollar forms it is a miniscule deceite, and because of the current issues, wells fargo seeks to become more aggressive in risky business of investment banking. The five thousand three
hundred that have been involved could lead to criminal charges for the bank and its employees. Wells Fargo has not specified who of the banks senior management have been terminated since the incident, but wells fargo share price has dropped more than six percent. Since then, wells fargo has then apologed to those affected and refunded money. Former employees say that wells fargo has a very aggressive sales culture. While in training employees are taught ethical practice , but on the job it is a complete different reality. Senior management seemd to ignore the practice because it was generating money for them. Since this incicdent, it was probably good business for the bank by increasing stocks, but now it is proving that it was not a good idea.
Wells fargo is loosing business with their customers, even the ones that were not affected because they do not trust the bankanymore. I personally do not know if the cost for running a bank will go up or down, but with this current issue I believe it will cost thebank. Wells fargo will have to hire new employees which will cost the bank money as well as more in debt training. Now with all these issues, who is affected? The bank and consumers are affected. Now from personal exeprince working at a Wells fargo bank, goals that needed to be met were ridicoulous and yes if you did not meet your goals termination was definitely a possibility. Are the actions by the employees justified by creating fraudulent accounts, no they are not, but unfortunately we live in a messy world. people need to have a job to provide for their families and maybe this was an incentative to create fraudulent accoutns. No matter the reasons behind this, what was done is wrong and unethical. In effect to Wells fargo fraduelent accounts, now the bank has to mend their wrongs and it will only take time to gain the publics trust and to focus on customer service rather than unrelaic
goals!