Sep
10
Wells Fargo Should Focus on Its Actual Misbehavior, Not on Perceptions
ByIt’s been a rough year for Wells Fargo. And most of the bank’s problems have come from self-inflicted wounds driven by an incentive system that rewarded appalling behavior.
To review: There was the scandal that resulted from bankers opening (and then closing) millions of unauthorized accounts to meet sales goals, with the hope of getting bigger bonuses. Originally thought to involve 2.1 million accounts from 2011 to 2015, the bank disclosed last week that as many as 3.5 million unauthorized customer accounts, dating to 2009, had been opened — nearly 70 percent more than originally announced…
Wells Fargo Should Focus on Its Actual Misbehavior, Not on Perceptions
