Wells Fargo CEO pledges to stamp out bad behavior. ‘I feel accountable.’ - The Washington Post: "Stumpf said Wells Fargo has already taken several steps to strengthening its compliance programs in the wake of the scandal, which resulted in $185 million in fines last week. The bank also dismissed 5,300 employees, including some managers, who were accused of creating sham accounts.
“On average 1 percent [of employees] have not done the right thing and we terminated them. I don’t want them here if they don’t represent the culture of the company,” Stumpf said.
“We’re not sitting idly by,” he said, “we are investing in controls and training. . .We’re making big investments and my goal is perfection.”"
What a complete crock of shit! I can personally attest to the anvil-like pressure for fear of termination that Personal Bankers, their Supervisors and related mortgage reps were put under to cross sell or else! Not just here but also at Bank of America! So they're up next on the law suit list, and it wouldn't surprise me a bit if a class action evolved out of this for people that were terminated unfairly to save upper management and the bank's "reputation" !
So classic!
'via Blog this'
“On average 1 percent [of employees] have not done the right thing and we terminated them. I don’t want them here if they don’t represent the culture of the company,” Stumpf said.
“We’re not sitting idly by,” he said, “we are investing in controls and training. . .We’re making big investments and my goal is perfection.”"
What a complete crock of shit! I can personally attest to the anvil-like pressure for fear of termination that Personal Bankers, their Supervisors and related mortgage reps were put under to cross sell or else! Not just here but also at Bank of America! So they're up next on the law suit list, and it wouldn't surprise me a bit if a class action evolved out of this for people that were terminated unfairly to save upper management and the bank's "reputation" !
So classic!
'via Blog this'
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