Gretchen Morgenson: In Wells Fargo’s Bogus Accounts, Echoes of Foreclosure Abuses

In Wells Fargo’s Bogus Accounts, Echoes of Foreclosure Abuses John Stumpf, the chairman and chief executive of Wells Fargo, won a dubious achievement award from one of his interrogators during Tuesday’s scorching hearings on Capitol Hill. The bank’s yearslong practice of opening bogus accounts for customers and charging fees to do so, said Senator Jon … Read more

“YOU SHOULD RESIGN” Elizabeth Warren DESTROYS Wells Fargo CEO For Unauthorized Accounts

“YOU SHOULD RESIGN” Elizabeth Warren DESTROYS Wells Fargo CEO For Unauthorized Accounts Elizabeth Warren DESTROYS Wells Fargo CEO On unauthorized Accounts 9/20/16. Elizabeth Warren, D.-Mass., called on Wells Fargo CEO John Stumpf to step down on Tuesday in an intense examination of the CEO’s role in an unauthorized accounts scandal before the Senate Banking Committee. … Read more

Stumpf Prepared Remarks: ‘I am deeply sorry’ But Won’t Resign

Stumpf Prepared Remarks: ‘I am deeply sorry’ But Won’t Resign “I am deeply sorry that we failed to fulfill our responsibility to our customers, to our team members and to the American public. I accept full responsibility for all unethical sales practices in our retail banking business. I am fully committed to doing everything possible … Read more

Wells Fargo’s Chief Risk Officer in Charge of Phony Accounts Dept Takes Leave of Absence Day Before Stumpf Testimony

“The leave takes effect a day before Chief Executive Officer John Stumpf is scheduled to testify before the Senate Banking Committee.” ~ Wells Fargo’s Chief Risk Officer for Retail Bank Takes Leave Wells Fargo & Co.’s top risk manager in the division where bank employees are suspected of falsifying more than 2 million customer accounts … Read more

Mitchell v. Wells Fargo Bank NA: Wells Fargo Faces Class Action Over Bogus Accounts

Mitchell v. Wells Fargo Bank NA: Wells Fargo Faces Class Action Over Bogus Accounts Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank of fraud and recklessness for its behavior. The lawsuit was filed in the U.S. District Court in … Read more

Watch: Working the Lobby at Wells Fargo

Working the Lobby at Wells Fargo A series of cutting animated videos blasting Wells Fargo’s sales incentives are getting a new life online in the wake of the bank settling federal regulatory probes that found its employees created more than 2 million bogus accounts — slamming customers with $2.6 million in fees — in order … Read more

Watch: Wells Fargo Jump Into January 2011 Customer Interaction

Wells Fargo Jump Into January 2011 Customer Interaction A series of cutting animated videos blasting Wells Fargo’s sales incentives are getting a new life online in the wake of the bank settling federal regulatory probes that found its employees created more than 2 million bogus accounts — slamming customers with $2.6 million in fees — … Read more

Watch: Wells Fargo Jump Into January 2011 Morning Huddle

Wells Fargo Jump Into January 2011 Morning Huddle “If tellers and bakers make those sales numbers at the end of the month everybody in the branch will get a $5 gift card to McDonalds,” the manager says in the video. “The district manager will get a $10,000 cash bonus, and the community banking president executive … Read more