Wells Fargo fined $185M for dubious account openings

fhl · Sep 22, 2016

It gets really worse.

http://www.zerohedge.com/news/2016-...te-fire-whistleblowers-who-exposed-banks-ille

I wonder of Buffett is selling out his position.

dealmaker · Sep 22, 2016

fhl said:
It gets really worse.

http://www.zerohedge.com/news/2016-...te-fire-whistleblowers-who-exposed-banks-ille

I wonder of Buffett is selling out his position.

Very good point....

dealmaker · Sep 23, 2016

Wells Fargo CEO would still get payday if bounced
If Wells Fargo CEO John Stumpf is dismissed "with cause," he would only leave a portion of a $200 million parachute behind, despite the scandal in which thousands of bank employeesopened unauthorized accountsfor customers to meet sales goals. A portion of his bonuses were tied to those accounts.(CNN Money)

dealmaker · Sep 26, 2016

Workers who didn't cheat and were fired sue Wells Fargo
Two former Wells Fargo employeesfiled a class actionlawsuit seeking $2.6 billion for former and current employees who tried to meet the bank's sales goals without resorting to fraud. The suit alleges that Wells Fargo fired, demoted or forced workers who did not meet quotas to open 10 new accounts per day.(Reuters)

dealmaker · Sep 27, 2016

Plaintiffs lining up to sue Wells Fargo
At least four prospective class-action lawsuits from former employees and customers have been filed against Wells Fargo. Previously, the bank has fended off lawsuits from customers by maintaining that they're bound by arbitration. (Los Angeles Times)

mlawson71 · Sep 28, 2016

Considering the amount of fake accounts they opened, this is probably only the beginning.

dealmaker · Sep 28, 2016

California Treasurer calls on Wells Fargo CEO to resign

http://www.sfgate.com/business/article/California-suspends-Wells-Fargo-from-state-bond-9383502.php

mlawson71 · Sep 29, 2016

Wait, he hasn't resigned yet? The nerve of some people.

dealmaker · Oct 11, 2016

Wells Fargo announces executive changes amid scandal
Wells Fargo is widely expected to tap its COO,Timothy J. Sloan, to succeed CEO John Stumpf, who is under fire for the fake-accounts scandal. The bank announced a shuffling of its top executives, which it said was not related to the recent controversy.(New York Times)

dealmaker · Oct 12, 2016

Wells Fargo CEO John Stumpf resigns effective immediately

http://www.sfgate.com/news/article/Wells-Fargo-CEO-John-Stumpf-resigns-effective-9967431.php