In 2016 society learned of the fraudulent behavior of the popular Wells Fargo Bank. Employees had created “ghost’ accounts and submitted credit card applications in customers names that they had not signed up for. Then these customers were unaware of these accounts and cards but were still paying fees to the bank. This was not just one employee creating these unauthorized accounts, but about 5,300 employees were taking part in this unethical behavior since 2011. Wells Fargo came out and made a statement saying they fired the employees with unethical behavior over the period of time they realized these events were taking place. Of course, this did not sit well with current customers of Wells Fargo because they did not know if they could trust the bank anymore, especially with such a large amount of employees creating these unauthorized accounts. In the end Well Fargo lost many customers and have been trying to reestablish their ethical name ever since.
1 Comment for “M6 (Pottle)”
This was a good one, I remember this. I prefer Credit Unions!!