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The Saga of Wells Fargo – Are Banks Reaping What They Sow?

Livinglies's Weblog

By Whistleblower Richard Bowen

http://www.richardmbowen.com/the-saga-of-wells-fargo-are-banks-reaping-what-they-sow/

Wells Fargo is once again making national headlines for its less-than-ethical business practices.

Recent headlines bowled me over: Wells Fargo being forced to reinstate employees – whistleblowers – who reported the ethics issues to their superiors, and pay their back pay! Their Board of Directors report decision laying the responsibility of the 2 million plus unauthorized bank and credit accounts on the bank’s former CEO, John Stumpf, and the former community banking executive, Carrie Tolstedt, and levying substantial penalties and I mean substantial! I’m amazed.

The Department of Occupational Safety and Health Administration (OSHA) took some strong steps recently regarding Wells Fargo that has the bank reeling and many observers cheering them on.

On the surface, it looks pretty promising and appears the government is getting tough in holding at least some banks accountable. Let’s hope this is the start of a trend that does…

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