Who Is Wells Fargo Ethical?

go through a legal process on their own, which would cause a major logistical nightmare for the bank (Morran, 2016). So rather than sit back and wait, the plaintiffs in the class action lawsuit are calling Wells Fargo’s bluff, arguing that since the CAA’s are not meant to cover illegal bank transactions, then the bank should have no ability to shield itself from this lawsuit. A recent court filing has even gone to the point of identifying that the CAA does not cover illegal actions and that it should only apply to typical banking disputes other than fraud (Morran, 2016). Wells Fargo is trying to make the CAA the real issue of the lawsuit so that it takes attention away from dealing with all the wrong that was done to its customers because of the great deal of financial liability they may incur if the court ends up ruling in favor of the plaintiffs. Wells Fargo has already been hit with a $185 million fine from both the federal and state regulators and is racking up court cost and legal fees by the day, which means if they took another major hit to the pocket book a turnaround for the company would be a long way off. With all this …show more content…
Shortly after the news about the scandal broke Wells Fargo aired its first TV commercial, which depicted its iconic stagecoach moving across a western backdrop, although serene, it intended to send a clear message with a few distinct sets of statements. These statements include things such as “Wells Fargo is making changes to make things right” (Hiltzik, 2016) or “We’re renewing our commitment to you” (Hiltizk, 2016). These are the very basic things any customer would hope to hear from a company who has been put on display for so much illegal activity. However, there is one major problem, ads like these promises to make things right, but give no explanation of how they