Posts Tagged: ‘Wells Fargo Class Action’

Wells Fargo Fires 4 Senior Employees for Their Involvement in Fake Account Scandal

February 27, 2017 Posted by kingcade

Four senior employees of Wells Fargo have been fired amid an ongoing investigation into the bank’s illegal sales practices.  Wells Fargo admitted last year that it created as many as 2 million fake accounts between 2011 and 2015.  Shortly after, reports surfaced of the toxic sales environment and employee mistreatment at the bank. Some former employees even said they were subject to retaliation after they tried to stop the sales tactics, according to CNN Money.

Since the scandal broke, Wells Fargo has been under investigation by the Department of Justice, Congressional committees, state attorneys general and prosecutors’ offices. Class action lawsuits have been filed by customers, employees and shareholders against Wells Fargo.  Wells Fargo fired 5,300 workers for creating millions of fake accounts.

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