Tag: Wells Fargo

In corporate America, and especially at the big banks, no one is expected to act like adults, they understand it is about stuffing your pockets at everyone else's expense.

Congress should give the Justice Department and regulatory agencies enough funding to do their jobs. While they’re at it, break up the biggest banks. And regulate drug prices directly.

John Stumpf is undoubtedly decompressing somewhere right now, waiting in comfort for the heat to die down.

Stumpf stood up and said he "takes responsibility" for what happened at Wells Fargo. And now he gets to go on running a banking operation that is little more than a criminal syndicate.

Banks like Wells Fargo use poverty-level wages and job insecurity to force employees to do unethical things they couldn’t otherwise get them to do.

Elizabeth Warren rebukes Wells Fargo CEO John Stumpf for the thousands of employees that opened false accounts in order to meet sales goals.

Carrie Tolstedt, former head of Consumer Banking at Wells Fargo, will “retire” later this year $125 million richer.

It’s possible that Wall Street’s arrogant executives will keep getting a free pass. But I wouldn’t be too sure of that if I were them.

This scam supposedly began in 2011 and for the last five years, roughly 1.5 million deposit accounts and 65,000 credit-card accounts were created.