Wells Fargo employees unable to find work

Posted 9/26/19

Some Wells Fargo Bank employees nationally are finding it hard to get a job.

The employees were fired after it was found they were opening accounts for customers without their knowledge and …

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Wells Fargo employees unable to find work

Posted

Some Wells Fargo Bank employees nationally are finding it hard to get a job.

The employees were fired after it was found they were opening accounts for customers without their knowledge and charging them for added services.

Lexington Chamber of Commerce President Otis Rawl checked with Wells Fargo employees and former employees, but none here face this problem.

The company suspected the fired employees’ accounts were among millions of potentially fake ones, The Wall Street Journal reported.

The nationwide bank fired thousands of low-level branch employees in an effort to get a fake-account problem under control. Those firings began years before a 2016 settlement brought the problems into public view, and they continue quietly today.

Firing employees suspected of dishonesty is standard practice. Banks depend on customers trusting them enough to leave their money there. But in the case of Wells Fargo, regulators, lawmakers and even the bank’s own board have questioned whether the junior staffers were really the ones to blame.

Pressure from managers to meet aggressive sales goals was the root cause, according to a report from the Wells Fargo board.

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