Ex-Wells Fargo Worker: Intimidation Included No Bathroom Breaks

Harassment, intimidation, even bathroom breaks denied. That's some of the "unconscionable behavior" a former Wells Fargo worker drove five hours to confront a bank executive about.

CNN | October 12, 2016       Nathan Todd Davis said at a California State Assembly hearing on the Wells Fargo (WFC) fake account scandal that he filed 50 ethics complaints during his decade of working at Wells Fargo -- but nothing was ever done.

"I've been harassed, intimidated, written up and denied bathroom breaks," said Davis, who drove 350 miles from his home in Lodi, California, to speak at the hearing.

The former Wells Fargo worker directed his complaints to David Galasso, a senior Wells Fargo executive who was filling in at the hearing for CEO John Stumpf.

"The sales culture of Wells Fargo needs to be picked apart," he said, standing at the podium but looking to his right to address Galasso. Davis estimated that almost two-thirds of Wells Fargo employees "cheat the system" due to unreasonable sales pressure.

After a decade at Wells Fargo, Davis said he was fired in June 2016 for being "90 seconds late to work." The real problem, he said, was that he never "made it to management because I don't cheat."  Read more here.

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

The New York Times | September 21, 2016         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 Tester, Democrat of Montana, had united the Senate Banking Committee on a major topic for the first time in a decade. “And not in a good way,” he added.

But this was not the first time problematic and pervasive activities at Wells Fargo succeeded in uniting a disparate group. After observing years of abusive mortgage loan servicing practices at the bank, an increasing number of judges hearing foreclosure cases after the financial crisis grew to understand that banks could not always be trusted in their pleadings.

This was a major shift: For decades, the nation’s courts had been largely pro-bank when hearing foreclosure cases, accepting what big financial institutions produced in documentation and amounts owed by borrowers.  Read more here.

Senator Elizabeth Warren Questions Wells Fargo CEO John Stumpf at Banking Committee Hearing

Senator Elizabeth Warren YouTube Account | September 20, 2016    Senator Elizabeth Warren's two round of questions for Wells Fargo CEO John Stumpf at the September 20, 2016 Senate Banking Committee hearing entitled: "An Examination of Wells Fargo’s Unauthorized Accounts and the Regulatory Response." For more information on the hearing, click here.