Page 10 - Wells Fargo Bank (C) Case Study
P. 10
This drive to achieve increased accounts was so forcible that
some bank employees were driven to forge customers’
signatures on new accounts to make sales.
From 2005, the year Stumpf became president of WFB
(becoming CEO in 2007), Wells Fargo employees were trying
to alert management about massive fraud, as employees
opened these unrequested accounts for clients, which
meant fees for the bank, to make bonus goal (2).
