Wells Fargo's independent board chair, Elizabeth Duke, told attendees at the start of the meeting in Iowa on Tuesday that shareholders had "sent the board a strong message of dissatisfaction" at last year's annual meeting. As a result, she said, the board began a "rigorous" self-examinat...
He joined the US bank’s $504bn asset management arm in February 2017. This was after the hugely damaging admission by Wells, the third-largest US lender, that its staff had created up to 3.5m bogus customer accounts to meet sales targets. That scandal led to the departure of the chief ...
Wells Fargo's troubles with its fake-account scandal have earned the bank a credit downgrade from ratings agency DBRS. The move is in reaction to the growing costs the third-largest U.S. bank by assets faces regarding the scandal. Wells Fargo's shares are down more than 3 percent in 201...
Sloan, the new CEO of Wells Fargo bank, apologized to 1,200 of his employees in Charlotte, North Carolina. Sloan had been n... M Mcgrath 被引量: 1发表: 2016年 OVERSIGHT UPDATE: Committee Continues Probe of Wells Fargo Scandal On October 25, 2016, Timothy J. Sloan, the new CEO of ...
Sloan had been namedLynch, Luann J.Cutro, CameronSocial Science Electronic PublishingLynch, L. J., & Cutro, C. (2017). The Wells Fargo commercial banking scandal. Darden Case No. UVA-C-2394. Retrieved from https://ssrn .com/abstractϭ2974106...
This settlement only pertains to the bank -- no protections are extended to current or former employees or executives who may have been implicated in the scandal. MORE: Wells Fargo agrees to pay $1 billion to settle customer abuse claims MORE: Timeline of the Wells Fargo Accounts Scandal ...
Taking a comprehensive view of the 2016 Wells Fargo "fake accounts" scandal, the authors detail the bank's legal, ethical, management, and social responsibility transgressions. Civil and criminal charges are explored—some of which have been settled. Ethical and immoral aspects are examined in lig...
Wells Fargomissed out on the upbeat start to the year enjoyed by rivalsJPMorgan ChaseandCitigroup, highlighting how the bogus customer account crisis is weighing on the US bank’s financial performance. Disruption caused by thesales scandaland fees for lawyers and other professionals dealing with th...
February 02, 2017 BANKING The collective struggle for better bank ethics The Wells Fargo scandal has once again put ethics at the heart of the debate about the future of banking. Regulation is clearly not working. Now an eclectic group of behavioural scientists, moral psychologists and spirit...
Wells Fargo Scandal In California, eight Wells Fargo employees were convicted of committing fraud facing a maximum penalty of 30 years in federal prison, also each employee is charged with at least one count of aggravated identity theft, which carries another two years in prison (https://www.ju...