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Old 09-08-2016, 04:28 PM
 
3,886 posts, read 4,539,685 times
Reputation: 5159

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Wells Fargo fined $185M for employee bonus scam - UPI.com

Strange, my brother was just recently complaining to me how he is always overly pressured to open other accounts by a teller (or whoever) when he goes in for his regular banking tasks.

Wells Fargo has been my bank for quite a while now and I don't have much money there, but if I did I might want to close my account and go somewhere else, however, I wonder how common this is in other banks?
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Old 09-08-2016, 06:50 PM
 
Location: Western North Carolina
8,040 posts, read 10,632,364 times
Reputation: 18918
Forget the employee bonus spin. This is not about greedy employee's trying to get incentives and "bonuses". This is about employees being threatened with loss of their jobs if they did not meet unobtainable "goals" and feeling relentless pressure to push unwanted products on customers, and therefore deciding to resort to unethical means to do so. I don't work there, but I have inside information that this is what the problem is. And the big boys in the ivory towers at Wells know it - they're now trying to backpedal. So they fire the employees and work with the public relations "spinners" to cover their puny corporate behinds while finger pointing at the underlings. Pathetic.
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Old 09-08-2016, 07:04 PM
 
Location: SoCal
20,160 posts, read 12,756,236 times
Reputation: 16993
Wells Fargo loan department is also unethical.
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Old 09-08-2016, 09:16 PM
 
3,886 posts, read 4,539,685 times
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I've worked with some real creepy corporate suits in the restaurant business, so I dont doubt it! Maybe the fired employees need to get together and blow some whistles on their shenanigans!
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Old 09-08-2016, 09:58 PM
 
319 posts, read 664,944 times
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If 5000 employees are cheating, then the problem is the company
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Old 09-08-2016, 10:21 PM
 
Location: Southern MN
12,040 posts, read 8,414,540 times
Reputation: 44797
Quote:
Originally Posted by NewbieHere View Post
Wells Fargo loan department is also unethical.
This does not surprise me. I've suspected for a time that something was awry.

Something was disturbingly wrong with my Wells-Fargo loan department. It got so crazy and I couldn't get any resolution or answers about why they had handled the loan process the way they did that one day I withdrew everything and marched out.

I've often wondered if I did the public a disservice by not reporting the very odd goings-on. And I still can't figure out if and how they may have taken advantage of me.

Long story short - took out a small loan, under twenty thousand. When I wrote a check to pay for my purchase I learned that my check bounced. The bank covered it with money from my savings account. If I had wanted to use my savings account money I would have done so myself.

Couldn't get an explanation for what happened and they wouldn't give me another loan even though I had over a hundred thousand in their care and have a good credit history. I worked my way up their ladder to complain and never got a satisfactory explanation, When I finally had an appointment with the district manager he called at the last minute and cancelled. I took my money and went somewhere else.

You could have heard a pin drop. Everyone seemed to know what was going me. If anyone here has a clue what that may have been about I'd love to hear a theory.
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Old 09-09-2016, 05:32 AM
 
Location: Western North Carolina
8,040 posts, read 10,632,364 times
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Quote:
Originally Posted by Merkin View Post
If 5000 employees are cheating, then the problem is the company
Exactly right.
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Old 09-09-2016, 07:53 AM
 
2,138 posts, read 3,589,677 times
Reputation: 3409
Quote:
Originally Posted by Podo944 View Post
Wells Fargo fined $185M for employee bonus scam - UPI.com

Strange, my brother was just recently complaining to me how he is always overly pressured to open other accounts by a teller (or whoever) when he goes in for his regular banking tasks.

Wells Fargo has been my bank for quite a while now and I don't have much money there, but if I did I might want to close my account and go somewhere else, however, I wonder how common this is in other banks?
I quit Wells-Fargo because when I simply wanted to go through the drive-through and make a deposit for my business, I was always subject to a memorized sales speech trying to sell me other services. I even requested "no solicitation." So the result of that was one time I sat and sat and sat at the drive-through while everybody else came and went. I was told they had to find a manager to sign off on the deposit because it was flagged for "special handling."

Went to a nice friendly regional bank. Life is way too short for such crap.

Don in Austin
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Old 09-09-2016, 08:49 AM
 
Location: Forest bathing
3,203 posts, read 2,484,217 times
Reputation: 7268
They gave us some very bad investment advice. Took our money out and ran. A bunch of crooks.
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Old 09-09-2016, 08:56 AM
 
Location: Colorado Plateau
1,201 posts, read 4,045,472 times
Reputation: 1264
Quote:
Originally Posted by RogueMom View Post
Forget the employee bonus spin. This is not about greedy employee's trying to get incentives and "bonuses". This is about employees being threatened with loss of their jobs if they did not meet unobtainable "goals" and feeling relentless pressure to push unwanted products on customers, and therefore deciding to resort to unethical means to do so. I don't work there, but I have inside information that this is what the problem is. And the big boys in the ivory towers at Wells know it - they're now trying to backpedal. So they fire the employees and work with the public relations "spinners" to cover their puny corporate behinds while finger pointing at the underlings. Pathetic.
So what happens to all these fired employees now? They may be unable to ever get any other employment with a firing on their resume.
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