The second event we study is the Wells Fargo cross-selling scandal, brought about by the creation of millions of fraudulent savings and checking accounts on behalf of the bank’s clients without their consent. As a result of this scandal, Wells Fargo agreed to pay $185 million in fines to ...
Tayan (2019) observe that the tensions between corporate culture, financial incentives and employee conduct were amply illustrated in the Wells Fargo cross-selling scandal. Ironically, Wells Fargo was listed as one of the great places to work for many years while its sales team adopted aggressive ...
Byline: Jackie Stewart Acquisitive banks should review their cross-sale and incentive...Stewart, Jackie
Define cross-selling. cross-selling synonyms, cross-selling pronunciation, cross-selling translation, English dictionary definition of cross-selling. n. The selling of other products or services to an existing group of customers, often through a marketin
The Wells Fargo cross–selling scandal of 2016 illustrates that instead of sweeping regulatory changes that the government has pushed in the past, current whistleblower jurisprudence needs to assess administrative, rather than regulatory, ... M Khan - 《University of Miami Business Law Review》 被引...
Wells Fargo is nearing a settlement with the U.S. Securities and Exchange Commission and the Justice Department over previously disclosed probes into its sales practices, the New York Times reported on Thursday.
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The fourth-quarter results were bolstered by a gain from writing down deferred tax liabilities - essentially money that Wells Fargo still owed to U.S. tax collectors from past years that now will likely never have to be paid.
The operating ploy that led Wells Fargo employees to open up millions of unauthorized bank and credit card accounts to meet cross-selling targets wascategorized by Democratic Senator Elizabeth Warrenas “gutless” and a “scam.” And one workplace expert contends that the bank, which all...
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