Page 5 - Wells Fargo Bank (C) Case Study

Over a seventeen - month period WF had come under

increasing pressure being accused by the Fed of "pervasive

and persistent misconduct."

Even after acknowledging the error of its actions WF’s

culture of misconduct was found to extend well beyond the

original revelations.

“Wells Fargo was dragged before Congress, put under the

microscope by government officials, and embarrassed

before its customers. A new CEO and management team

were brought in, and the old regime lost millions of dollars
in docked pay.” (8)