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On that same hand employee retention consistently remained low for over six years until this past quarter where Wells Fargo saw the lowest level of turnover. This could very well be because of the drastic changes occurring within the company because of the scandal. No longer are employees required to hit unrealistic sales goals or be pitted against one another in order to receive bonuses. Also doing what is truly right by their customer probably feels good after so long of working against the…

ASSIGNMENT REPORT ON FAKE BANK ACCOUNTS SCAM IN WELLS FARGO BANK USA 1. Describe what happened. The case in discussion here is opening of unauthorized and fake bank accounts by employees of Wells Fargo Bank all over US. Various employees in Wells Fargo Retail stores all over the country signed up customers for various products like a new checking accounts, debit accounts, credit card accounts without their approval or consent. The employees then used to transfer money from the customers…

of the stuff that we have today such as our clothes, vehicles, or even our homes. There are many different ways to using money and how you tend to spend it. Some people may prefer to have cash in their pockets while others tend to put money in their bank accounts using credit cards, but the real question is, which is better? Both cash and credit cards are very convenient. However, in certain circumstances you might be wise to favor one choice over another seeing as to one may be easier for you…

According to Laurie Sullivan in her article “Wells Fargo Bets on ‘Total Market Approach’ Threading Messages through Multiple Cultures” Wells Fargo uses a “total market approach” as their target market. (Sullivan, 2015) This means that Wells Fargo target market is everyone. This is evident when you go to their home page see services offered not only for individuals, but also for small businesses and for corporations (14). Instead of focusing on attracting one or two types of customers they…

Wells Fargo’s Ethical Scandal It was a bank heist greater than the Brink's job in 1950, however, the brigands used no ordinary firearms or getaway vehicles. As opposed to being quick on the draw, they had quick fingers on computer keyboard and mouse. Over the course of four years, The Wells Fargo Bank of San Francisco, had at least 5,000 employees opened more than a million fake bank and credit card account on behalf of innocent customers. This monumental scandal that broke the basic principle…

Crisis demonstrate, when a company is as influential as JPMorgan Chase & Co., the American public is a stakeholder. Their customers include individuals, corporations, small businesses, governments, universities…the list goes on. If an entity can bank, they can bank with JPMorgan Chase & Co. 60.6 million households have at least one consumer banking account with Chase—roughly half of American households. Chase is the number one credit card issuer in the United States, the number two mortgage…

the process. Being fortunate enough to learn all this at Everest College, where I did obtain my AA degree in Criminal Justice. The feedback that I was giving at this college will prepare me for law school or for my investigation job at Wells Fargo Bank. In the college I was giving the feedback that law was not going to be easy to learn and to master, without the proper…

employee stock purchase plan. In 2015, JPMorgan Chase earned a record of 24.4 billion in net income and revenue of $96.6 billion. As a global leader in financial services, they compete with banks located in the United States and outside countries such as ICBC, China Construction Bank, Wells Fargo & Co, and Bank Of America.…

Their wrongdoing has left other banks with the responsibility of maintaining trust with their current customers as well as previous Wells Fargo’s customers. Due to their actions, compensation regulations are under scrutiny and may be changed in the near future. Wells Fargo was the leading bank in cross selling. After scrutiny from the public and demanded fines from CFPB, the idea of cross-selling products plummeted…

On September 8th, 2016 Wells Fargo announced it would be paying 185 million dollars in fines to settle the dispute it’s employees caused among customers. Employees in the lower division banks were offered incentives based on their sales progress. “Eight is great” was what the employees were bribed with. Entice eight Wells Fargo products to their customers and receive a cash bonus. This demanding quota urged employees to cut corners and create fake credit card and checking accounts; two million…