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Wednesday, February 22, 2017

Wells Fargo fires 4 senior managers in scandal inquiry

Wells Fargo's board of directors fired four senior managers as part of its investigation into the bank's sales practices scandal.

Tuesday's announcement is the first public firing of managers and executives since Wells acknowledged in September that its employees opened two million bank and credit card accounts without customer authorization in order to meet lofty sales goals.

When the scandal first broke, Wells had said it had fired roughly 5,300 employees as a result of the scandal, the vast majority of them lower-level workers.

Numerous branch employees have said that intense sales pressure from senior managers was at least partially why they were driven to open the accounts.


1 comment:

Anonymous said...

Too big to fail - even when repeatedly breaking the law - the extortion money the gubmint gets from these chronies started with the taxpayers!