History Of Wells Fargo

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Wells Fargo is an extremely popular bank that many people, including me, use. Wells Fargo is an American bank that is the third largest bank in the United States, the first two being JP Morgan Chase and Bank of America respectively. The bank’s headquarters is located in San Francisco and since I am from this city, I would love to intern at the company and maybe work at the bank in the future. There are many things I love about this bank, however, the most enjoyable asset about Wells Fargo is its convenience in both the overall bank and in tracking your purchases and your card by simply putting your username and password onto the Wells Fargo website. Since Wells Fargo is the third largest bank in the United States, there are various venders …show more content…

This is obviously not right as innocent people are being charged with payments they didn’t make. The bank tried to help solve this issue and “on September 8, 2016, Wells Fargo announced that it was paying $185 million in fines to Los Angeles City and federal regulators to settle allegations that its employees created millions of fake bank accounts for customers. The bank wanted the issue behind them” (Forbes, “The Wells Fargo Fake Account Scandal: A Timeline”). Wells Fargo claimed that they fired about 5,000 people who helped create these ghost accounts. That is a good sign, but I believe that they should fire everyone who was involved in the scandal. There were more than 5,000 employees present in the scandal, so if you are getting rid of a good amount of people, why not get rid of all the toxic …show more content…

They said to the people who support Wells Fargo, “if you feel like you received an account that you didn’t want, come in and see us and we will make it right” (Peter Conti-Brown, “Why Wells Fargo Might Not Survive its Fake Accounts Scandal”). I believe that Wells should do more than just talk to their customers if they experienced one of the fake numbers. It seems like they were and still are taking about this scandal like it wasn’t a big deal, when the case is still relevant today. Like I briefly mentioned above, the most unethical behavior about this is the fact that not just a couple members were involved. There were a couple thousand employees involved who created new bank and credit card accounts for customers without their

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