Most Americans were shocked when they learned that thousands of Wells Fargo employees had opened millions of fake accounts.
CNN | September 22, 2016 People who work at other banks weren't surprised at all.
Nearly a dozen current and former employees at large and regional banks such as Bank of America (BAC), Citizens Bank, PNC (PNC), SunTrust (STI), and Fifth Third (FITB) tell CNNMoney that a sales obsession pervades their banks. They say they too are under immense pressure to get customers to open multiple accounts.
They described a focus to push as many different products -- think debit cards or new online accounts -- as they can, an industry practice known as cross-selling.
"Wells Fargo is not the exception (with its) absurd sales culture," said one former manager of two large regional banks. Read more here.