Wells Fraudo Bank
This forum needs an infusion of non-red pill inspired rage, so here we go.
So CEO John Stumpf got his stumpf removed and handed to him on a dinner plate yesterday by Elizabeth Warren. No great fan of hers am I, yet I was falling out of my seat cheering her on as she savaged this scumbag on Capitol Hill.
2% of Wells' global workforce was engaged in defrauding their customers. That's a lot of people. And when you break it down further and realize that those 2% were all concentrated in one line of business within the bank, it's a MUCH higher percentage of retail branch employees.
I've worked in banks for years. This kind of widespread corruption does not go unnoticed at management levels. It STARTS at management levels.
Now we're finding out that WF has been firing whistleblowers who called in to their own ethics line to sound the alarm. Ethics lines are not answered in branches, they're answered at the corporate level. That means the corporation was notified, and the corporation made the choice to retaliate against these people.
I think Warren is right that Stumpf and other execs need to start being held criminally liable for this kind of stuff. This is demonstrably a corporate culture issue. You just don't have 5000+ "rogue" employees who randomly start defrauding customers all at the same time.
Darling it's better down where it's wetter, take it from me! --- Sebastian