Business Analysis: Wells Fargo

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To address the issues and rebuild trust with the customers, Wells Fargo took actions in three primary ways: assisting customers, strengthening operations, and enhancing government practices. Wells Fargo abandoned its sales goals, assigned new management and paid back millions in refunds to ensure their reputation. Total of $6.1 million they paid to refund customers for its fraudulent bank accounts. The bank also paid $910,000 to refund customers for the improper online bill enrollments. Additionally, Wells Fargo also agreed to a $142 million settlement to cover fake accounts. The company’s senior management has taken many actions to turn the company to a bright side, it including assigning new leadership and getting executives accountable by

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