William Fargo

Case Analysis conducted on Wells Fargo’s Scandal. Introduction Wells Fargo and Company is a financial institution that provides banking services (community banking, wholesale banking), investment management, cross- selling and mortgage for individuals and organizations internationally. Wells Fargo and Co. has been in existence since 1852; it was known as both a shipping company and a bank. During this time period, Wells Fargo provided the fastest and most reliable means of transporting and…

According to Ghillyer, “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…

American judicial system is far from ideal, considering the recent indictments and judgments against payday lenders and the apparent "pass" being given to the criminals at Wells Fargo. Wells Fargo Criminals Will Apparently Walk Free; Payday Lenders Indicted By now, many people have heard about the scandal involving Wells Fargo. Bank employees have been accused of "widespread illegal practices," such as opening millions of accounts…

Especially since the employees were opening fake accounts with no money in it, which doesn’t seem to benefit the bank much. Since Wells Fargo focuses on cross-selling, selling as many products as possible to existing customers is ideal. Because of this, each employee had a target of selling each customer at least eight products, which eventually increased to ten. This created a “high pressure…

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…

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…

situational assessment, the CMT is gain awareness of the crisis and help predict the direction in which it will evolve. Situational Assessment Examples An example of an impending crisis is the 2016 exposure of Wells Fargo employees opening false accounts. Employees at Wells Fargo…

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…

Leadership and CRS research information. As stated in the introduction, Wells Fargo prides itself with the continuance of its founding values set by its leadership back in 1852. Today these values are still being held in high regard by the company’s commitment to its CSR. The involvement of leadership oversight to ensure that the…

Infoglut During Organizational Change Organizational change is often seen as necessary for any growing organization. Wells Fargo Bank has gone through numerous public scandals and crises over the last year, most notably the sales practices lawsuit in 2016. Since that revelation, several other controversial news headlines have popped up as well, including executive dismissals, class action lawsuits, and settlements. Over the past year, the company has tried to repair the reputation damage and…