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I called the Wells Fargo ethics line and was fired

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Napoleon

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Millions of phony accounts. Fake bank card PIN numbers. Fictitious email accounts.
Wells Fargo admitted to firing 5,300 employees for engaging in these shocking tactics. The bank earlier this month paid $185 million in penalties and has since apologized.
Now CNNMoney is hearing from former Wells Fargo (WFC) workers around the country who tried to put a stop to these illegal tactics. Almost half a dozen workers who spoke with us say they paid dearly for trying to do the right thing: they were fired.
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One such former employee was fired after flagging issues directly to Stumpf, according to Senator Bob Menendez.
At the Senate hearing, Menendez read the New Jersey woman's 2011 email to Stumpf, where she described improper sales tactics she felt were "wrong."
"Did you read that email?" Menendez asked Stumpf.
"I don't remember that one," Stumpf replied.
"Okay, well she was fired. ... So much for the safe haven," Menendez said.
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There either need to be criminal charges, Congress and the regulators should step in and tear this company apart, or both.

Wells Fargo workers: I called the ethics line and was fired - Sep. 21, 2016
 
As soon as I heard the # of employees affected, I knew this was widespread.

What an absolute nut-house they had going there. Just so you know people, if you work for complete idiot assholes, you are complacent. Turn them in and get a new job. That's your choice. It sucks to be you, it suck to have to get a new job, it sucks to maybe even get in trouble for doing the right thing, but there it is. Management can only misbehave if employees do what they say. And if its that bad...it will implode one way or another. In this case, spectacularly, and hopefully with some prosecutions...
 
Citizens united. This company is a person. Dismantle it.
 
Mach said:
As soon as I heard the # of employees affected, I knew this was widespread.

What an absolute nut-house they had going there. Just so you know people, if you work for complete idiot assholes, you are complacent. Turn them in and get a new job. That's your choice. It sucks to be you, it suck to have to get a new job, it sucks to maybe even get in trouble for doing the right thing, but there it is. Management can only misbehave if employees do what they say. And if its that bad...it will implode one way or another. In this case, spectacularly, and hopefully with some prosecutions...
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Not an option for many people, in a ****ty job market.

Kids, mortgage, tuition payments, etc. It's hard enough to just get a decent job. Imagine how hard it is to do so, when asked why you left your last one?
 
citizens united has NOTHING to do with this case

this case is about greed....and a corporate structure that didnt understand that when too much pressure is put on employees for results, bad things can and will happen

i have been in the sales business for 30+ years....and there is a fine line between asking your employees to produce, and asking for targets that are unhittable

here, greed won over....and it caused people in a LOT of different levels of the organization to put pressure on people below them to hit unreasonable targets....and the result is employees than lied, cheated, and stole

and i guarantee you not one employee that did those things was actually told to lie, cheat, or steal....but they had their bosses, and their bosses, and the bosses above them telling them to sell, sell, sell....or dont let the door hit you in the ass

all you have to do to make an employee lie or steal is to give them motive and opportunity....both were given here....it was a complete management ****up from the bottom up

whether or not it went all the way to the top i dont know....i do know it went to the division chief who was fired

but citizens united has NOTHING to do with it
 
gdgyva said:
citizens united has NOTHING to do with this case

this case is about greed....and a corporate structure that didnt understand that when too much pressure is put on employees for results, bad things can and will happen

i have been in the sales business for 30+ years....and there is a fine line between asking your employees to produce, and asking for targets that are unhittable

here, greed won over....and it caused people in a LOT of different levels of the organization to put pressure on people below them to hit unreasonable targets....and the result is employees than lied, cheated, and stole

and i guarantee you not one employee that did those things was actually told to lie, cheat, or steal....but they had their bosses, and their bosses, and the bosses above them telling them to sell, sell, sell....or dont let the door hit you in the ass

all you have to do to make an employee lie or steal is to give them motive and opportunity....both were given here....it was a complete management ****up from the bottom up

whether or not it went all the way to the top i dont know....i do know it went to the division chief who was fired

but citizens united has NOTHING to do with it
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The head of that division wasn't fired. She put in her resignation.

And you're right, this has nothing to do with Citizens United. Not even sure how that got mentioned in this discussion.
 
Napoleon said:
There either need to be criminal charges, Congress and the regulators should step in and tear this company apart, or both.

Wells Fargo workers: I called the ethics line and was fired - Sep. 21, 2016
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Tear it apart in what way?

Interesting article. I'm confused about some of those stories, particularly the one from Bill Bado. He got fired by WF almost 3 years ago after only working there for 6 months, and he hasn't been able to find another job, except part time at ShopRite? He worked at PNC until 2011 when he took 18 months off from work between jobs due to an "urgent family situation". That probably didn't help his financial situation very much.
 
tres borrachos said:
The head of that division wasn't fired. She put in her resignation.

And you're right, this has nothing to do with Citizens United. Not even sure how that got mentioned in this discussion.
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you are correct

i thought she was fired....but apparently she resigned

probably didnt have much of a choice though....

she was gone either way
 
Yes, I remember how many people defended, and still do, the banks actions when they crashed the economy in 2008. These apologists blamed the borrowers, the government, the regulations, etc. everyone but the banks. These all deserved some of the blame, but so did the banks. Because according to them no way would any private company would act greedy. No way would the banks commit fraud, forgery and cheat it's customers.

These banks are out of control. There needs to be more regulations and some of the Banks Brass being Perp walked to jail.
 
gdgyva said:
you are correct

i thought she was fired....but apparently she resigned

probably didnt have much of a choice though....

she was gone either way
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Exactly, I'm sure she was pushed out. The optics are better that way, plus she walked away with a boatload of money as I understand, so it probably wasn't a hard decision for her to make.
 
gdgyva said:
you are correct

i thought she was fired....but apparently she resigned

probably didnt have much of a choice though....

she was gone either way
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Yes, poor her. The 5,000 employers fired probably got nothing.

But she got a $124.6 million golden parachute from Wells Fargo when she left in July.

Poor baby.
 
tres borrachos said:
The head of that division wasn't fired. She put in her resignation.

And you're right, this has nothing to do with Citizens United. Not even sure how that got mentioned in this discussion.
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I mentioned it, because I'm sick and tired of seeing wealthy corporations essentially commit murder, and all they get is a slap on the wrist.

They'll get a fine, maybe some heads will roll, but ultimately, the company will go on, the board won't change, and they'll still make money hand over fist.

**** that. They want rights typically reserved for humans, then they need to be held to responsible standards that are typically reserved for humans. But it won't happen.
 
KevinKohler said:
I mentioned it, because I'm sick and tired of seeing wealthy corporations essentially commit murder, and all they get is a slap on the wrist.
**** that. They want rights typically reserved for humans, then they need to be held to responsible standards that are typically reserved for humans. But it won't happen.
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What crime? Being rich? Welcome to the United States, its called opportunity.

Wells Fargo is publicly traded, dismantling it because of an ethics violation, where employees did unethical things because they had asshole/incompetent management , is not in most peoples best interest.
Despite your emotional plea that it is. We couldn't afford to have the national wealth we have, if at the drop of a liberal youth's angst, we exploded billions of dollars in investment to "fix" the situation.
 
Mach said:
What crime? Being rich? Welcome to the United States, its called opportunity.

Wells Fargo is publicly traded, dismantling it because of an ethics violation, where employees did unethical things because they had asshole/incompetent management , is not in most peoples best interest.
Despite your emotional plea that it is. We couldn't afford to have the national wealth we have, if at the drop of a liberal youth's angst, we exploded billions of dollars in investment to "fix" the situation.
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I agree.


So instead, get rid of citizens United.

And don't call me a liberal, makes you look kinda silly.
 
KevinKohler said:
I mentioned it, because I'm sick and tired of seeing wealthy corporations essentially commit murder, and all they get is a slap on the wrist.

They'll get a fine, maybe some heads will roll, but ultimately, the company will go on, the board won't change, and they'll still make money hand over fist.

**** that. They want rights typically reserved for humans, then they need to be held to responsible standards that are typically reserved for humans. But it won't happen.
Click to expand...

What does any of that have to do with Citizens United?
 
SenorXm/Sirius said:
Yes, poor her. The 5,000 employers fired probably got nothing.

But she got a $124.6 million golden parachute from Wells Fargo when she left in July.

Poor baby.
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wrong

that i do remember

the money she left with was her retirement fund....accumulated over many years working for the bank

now, you probably think she should have left with nothing

but let me ask you a question....

when your coworkers get fired, do they lose what is in their 401k plan?

the answer is no....that money is theirs

Despite the shocking scandal at her division, 56-year-old Tolstedt is set to walk away with an even bigger fortune when she retires at the end of the year -- a $124 million payday through a mix of shares, options and restricted stock, according to calculations of company filings based on the current stock price.

The huge package was accrued over her two-plus decades at Wells Fargo and was not directly tied to her retirement.

http://www.debatepolitics.com/gener...-pay-day-exectutive-led-wells-fargo-scam.html
 
tres borrachos said:
What does any of that have to do with Citizens United?
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It's what grants a company rights reserved for humans, but fails to treat companies like people in other areas.
 
gdgyva said:
and i guarantee you not one employee that did those things was actually told to lie, cheat, or steal....but they had their bosses, and their bosses, and the bosses above them telling them to sell, sell, sell....or dont let the door hit you in the ass
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I'm willing to bet that they weren't specifically told to do such but definitely were told to do it implicitly, and then they turned their heads knowing it was happening.
 
gdgyva said:
wrong

that i do remember

the money she left with was her retirement fund....accumulated over many years working for the bank

now, you probably think she should have left with nothing

but let me ask you a question....

when your coworkers get fired, do they lose what is in their 401k plan?

the answer is no....that money is theirs

Despite the shocking scandal at her division, 56-year-old Tolstedt is set to walk away with an even bigger fortune when she retires at the end of the year -- a $124 million payday through a mix of shares, options and restricted stock, according to calculations of company filings based on the current stock price.

The huge package was accrued over her two-plus decades at Wells Fargo and was not directly tied to her retirement.

http://www.debatepolitics.com/gener...-pay-day-exectutive-led-wells-fargo-scam.html
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Will there be charges filed against her and other execs who were part of this scam?

See here's where the corporate apologists and the 'CEO's never do anything wrong' apologists lose me.

The little people who will be fired will walk out with nothing. And if they were fired because of ethical violations maybe not even their retirement and/or 401k. You steal from a company, or it's customers you can lose everything. BUT the top brass, they walk away with millions, even if they are up to their necks in fraud, scams and ethical violations.

It's not fair. But that's the country we built. In 2008 while millions lost their jobs and homes the people who committed fraud and forgery walked away scot free. Very very few went to prison. Some companies paid fines, but that was COMPANY funds, not the money from the execs who did the crimes.
 
Mach said:
What crime? Being rich? Welcome to the United States, its called opportunity.

Wells Fargo is publicly traded, dismantling it because of an ethics violation, where employees did unethical things because they had asshole/incompetent management , is not in most peoples best interest.
Despite your emotional plea that it is. We couldn't afford to have the national wealth we have, if at the drop of a liberal youth's angst, we exploded billions of dollars in investment to "fix" the situation.
Click to expand...

At what size do anti-trust regulations come to play?
 
SenorXm/Sirius said:
Will there be charges filed against her and other execs who were part of this scam?

See here's where the corporate apologists and the 'CEO's never do anything wrong' apologists lose me.

The little people who will be fired will walk out with nothing. And if they were fired because of ethical violations maybe not even their retirement and/or 401k. You steal from a company, or it's customers you can lose everything. BUT the top brass, they walk away with millions, even if they are up to their necks in fraud, scams and ethical violations.

It's not fair. But that's the country we built. In 2008 while millions lost their jobs and homes the people who committed fraud and forgery walked away scot free. Very very few went to prison. Some companies paid fines, but that was COMPANY funds, not the money from the execs who did the crimes.
Click to expand...

i dont know if charges will be filed

here is the tough part....

was pressure put on employees...absolutely

is there anything illegal about that....nope

were goals set so high that management "should" have known that they couldnt have been reached without employees resorting to scandalous tactics...probably

can it be proven? are there emails, and documents that say management knew what was happening, and allowed it?

or is this all just speculation and that they "should" have known

proving the case is the key....no DA will bring a case where he/she cant prove the case beyond a reasonable doubt

and these people...the executives all have enough money to afford the best attorneys

so...will they be charged? i dunno....is there a provable case?
 
joG said:
I tend to agree that the rot went throughout management from the sound of it. I am not sure, of course. But the scale is just too large for nobody on the board to have known.
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Why do you believe people on the board knew intimate details of practices in one small division of a very large corporation?
 
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