The New York Times | October 20, 2016 The scandal at Wells Fargo over the creation of unauthorized accounts shook its customers’ faith in the bank, but it took an even sharper toll on the company’s workers. A number of them say they faced a stark choice: Create new accounts by any means possible, or risk being fired for falling short of their sales goals.
Several former Wells Fargo employees gave The New York Times firsthand accounts, by email or by phone interview, of how that pressure affected them, and of the ethical shortcuts they say they saw colleagues take. The following are excerpts. Some people asked to be identified only by their first name and last initial, to protect their future employment prospects.
Wells Fargo responded by saying it did not have “specific comments on the team members involved” but wanted to reiterate that the bank had “made fundamental changes to help ensure team members are not being pressured to sell products, customers are receiving the right solutions for their financial needs, our customer-focused culture is upheld at all times and that customer satisfaction is high.” Read more here.