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    Wells Fargo

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    Wells Fargo has been a lead provider of both personal and business banking. Financial services including insurance, credit cards, mortgage and investments are offered through the company. According to the 2015 Wells Fargo CSR plan, two of their core principles include putting customers first and valuing their team members. However, in 2011, allegations against Wells Fargo began to accumulate that employees were reportedly opening fraudulent accounts and credit cards against customer’s knowledge and consent. Minimal efforts were taken to immediately address the situation, and it continued to occur for an additional four years. In September of 2016, the Consumer Financial Protection Bureau (CFPB) imposed the largest…

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    Wells Fargo Scandal

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    Wells Fargo Scandal Wells Fargo founded, in 1928, is currently one of the World’s largest financial institutions. The company had a stellar reputation in the financial industry, known to be an honest and ethical organization. Wells Fargo is under investigations by the Senate Banking Committee and Federal Officials to determine the level of participation of its senior leadership. The investigations will determine that Senior Leadership played a major role in creating an environment and…

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    Wells Fargo Case

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    For more than 160 years, Wells Fargo has been in the risk management business and risk has been very important to its success. They are guided by a statement of risk appetite and are willing to take while operating in a safe and sound manner. The statement of risk consist of seven core principles. First Wells Fargo is focused on relationship. Which means they will take only as much risk necessary to efficiently, effectively and prudently to serve the consumer, small business, commercial and…

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    Swot Analysis Wells Fargo

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    Wells Fargo is an American international banking as well as a service holding company whose headquarters are in San Francisco, California. The economy of California had boomed following the discovery of gold at Sutter’s mill in the year 1849m, an attribute that lead to a huge demand for shipping. Henry Wells and William Fargo joined other investors to create Wells Fargo and company that were meant to serve and profit following this demand. In July 1852, the company had started the transportation…

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    function. The need for a debit or credit card to buy groceries, gas, and basic living expenses has resulted in people relying on their banks to survive. As a top national bank, Wells Fargo would seem like a reasonable choice but after recent discoveries it should have people question the safety of their accounts and the lack of ethics within this company. Wells Fargo is a national bank found in almost every state, offering over 6,000 retail banks and 13,000 ATMs (Wells Fargo). With its easy…

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    “Corporate governance is the process by which organizations are directed and controlled” (2014, p. 94). When Wells Fargo employees opened accounts for customers without their consent, their actions violated customer’s trust, shareholder’s standards, and employees’ loyalty. Moreover, the unethical behavior lay within the framework of Wells Fargo’s corporate culture, thus influencing employees’ behavior and leaderships’ incompetence. The reaction from leadership was to address unethical behavior…

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    Wells Fargo Code Of Ethics

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    For a considerably long time, Wells Fargo has managed to cultivate an excellent reputation as one of the most efficiently managed banking institutions in the United States. However, this immaculate reputation has been tarnished in the wake of the recent fake accounts scandal. Since the beginning of the decade, the employees of the bank have created millions of fake credit cards and bank accounts. From 2011 to 2016, this banking institution has managed to collect a staggering $2.6 million in…

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    Case Study Wells Fargo

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    Wells Fargo was the company I have selected for my final project. My rationale for choosing them is slightly beneficial for me because I am a customer and have been since early 2000. As a client, I want see how were going to turn around the public and stakeholders view of their Corporate Social Responsibility after many mishaps in the past few years. One of Wells Fargo biggest mishaps was their unfair lending practices and also a more resent problem were bank employees issuing unwanted credit…

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    AN ANALYSIS OF THE WELLS FARGO ACCOUNT SCANDAL INTRODUCTION Paying bank fees may be one of the most annoying, unwanted situations customers experience in the banking system. Imagine the fees paid suddenly becoming multiplied, and you were paying for accounts you didn’t even sign up for. For Wells Fargo customers, this nightmare became a harsh reality. The 185 million dollar Wells Fargo Bank account scandal began in 2011 and was revealed to the public five years later after…

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    Wells Fargo Scandal Essay

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    The study, that was discussed in subsection 2(A), stated that the number of people that would not join Wells Fargo jumped from 22% to 54% (Egan 2016). This shows just how devastating unethical decisions can be on a company, but it also has a tremendous effect on other aspects of the business. New customers are essential to any business and if more than half of people would not even consider you an option, the future starts to look very bleak. Reputation is one of the biggest marketing tools. It…

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