Two former Wells Fargo employees in California allege they were fired because they refused to break the law and have filed a class-action lawsuit seeking $2.6 billion in damages against the bank.  The lawsuit seeks to represent all the bank’s employees in the past 10 years who were penalized for not making sales quotas.

This case comes just after Wells Fargo settled with the Consumer Financial Protection Bureau earlier this month over allegations of widespread illegal activities.  Wells Fargo was fined $185 million dollars after thousands of employees opened as many as 2 million fake bank accounts without customer approval.  Wells Fargo refunded $2.6 million dollars to customers who were charged fees on these accounts.  The bank also fired 5,300 employees who participated in the fraud.

You might ask why so many Wells Fargo employees would be willing to participate in illegal activity?  I suggest you look at how their supervisors were paid.  My guess is that the bonuses for upper level managers were tied to how much “cross selling” occurred by lower level employees; i.e. how many accounts were opened.  I would also guess there was a tremendous amount of pressure placed on employees to open these accounts or risk their jobs.

But what about the Wells Fargo employees who refused to open fake accounts?  According to this lawsuit, many of them were fired.  In fact, the lawsuit alleges that “thousands” of employees may have been fired for refusing to break the law. 

Here in Charlotte, NC, Wells Fargo is one of our largest employers.  If you worked for Wells Fargo and were disciplined or fired for refusing to open unauthorized bank accounts, I would like to hear from you.  You may have a claim for damages.

I did open accounts for friends and family (they were aware) my manager told me to open an account for his fiancé and when I was un sure , he threatened to purchase me a fish and flush it if I didn’t get to my numbers that week. So I opened it. And was fired for it
by Amanda January 9, 2023 at 03:15 PM
I was let go this year after I reported discrimination. They’re reason fraud when I failed to do a procedure properly and they did nothing for to resolve the issues of harassment I experienced.
by Mrs June 22, 2022 at 03:22 PM
The way they treat there employees suck
by Michael No last name October 26, 2021 at 04:48 PM
Wells Fargo current discrimination issues persist
by Confidential October 13, 2020 at 05:34 PM
Is there anyone I can talk to for Alabama , I had the same issue I worked 2014-2017
by Joyce September 27, 2020 at 04:08 PM
by Brian Clemens October 2, 2019 at 05:26 PM
Post a Comment