Wells Fargo Case Study

Mr. Chen came to our office just now to deliver a document. He wanted to make an appointment with you on Monday afternoon. He said he would like to discuss with you whether we should send an attorney letter to BOA and Wells Fargo regarding his case.

SUPPORT DOCUMENTS: Two Pages Transaction History, Two Pages Cardholder Dispute Forms, TD Bank Cover Page.

Thank you for contacting us to look into whether you might be able to bring an individual claim for telephone calls you received from Wells Fargo. As this point we have to decline representing you in this matter.

In the year eighteen fifty-two, two men by the names of Henry Wells and William Fargo chose to establish a monetary administrations organization that we know today to be Wells Fargo (Wells Fargo, 2017). Before establishing the organization, Mr. Wells and Mr. Fargo chose to ground their organization in five standards which turned into their five essential esteems. Their first esteem being "individuals as an aggressive esteem" which implies an association with a colleague will prompt a superior association with the clients. Second "morals" Wells Fargo prides its self on being a straightforward organization and having nothing to cover up. Third, "what's ideal for the clients" as indicated by the Wells Fargo Website this esteem is characterized as ensuring clients' private data (Wells Fargo, 2017). The fourth esteem is "assorted variety and incorporation" which implies Wells Fargo advances the enhancement of its organization and customers while including pioneers all through the organization to decide. The last guideline is "administration" which implies learning and serving their vision.

Our paper today will be on Wells Fargo. Wells Fargo is an American bank that was created in 1852 by Henry Wells and James Fargo. It is the second largest bank in the USA in terms of market cap, operates in over 42 countries around the world, and has over 260,000 employees.

At Wells Fargo, to serve our consumers in a timely manner is and will always be a top

The Tea act had been enacted by British Parliament on May 10, 1773. The act was to help raise funds for the British East India Company, who was running out of money. The law had created a way for the Company to inexpensively sell tea to the American Colonies. Another reason this act had been passed was to stop the colonists who had been getting around the taxes by smuggling. The colonists were now forced to pay taxes. The colonists were upset with this new law because they could no longer smuggle tea and they were forced to give in to the British. The dispute between the American colonists and British Parliament later led to an even greater conflict, known as the Boston Tea Party.

When trying to determine which promotional strategy a company should use many factors need to be taken into consideration. The company must to decide who their target market is and what message they wish to deliver to the target market. Once this has been decided, the company should research their target market in order to determine which promotional strategy will work best to reach their target audience.

Knowledge is considered as one of the most important and competitive resource for sustenance of the organisation (Zack, 1999). It can be compared to the strategic resource that can be used and applied in various frames of the organisation. Experienced managers in the organisations believe that company can receive strategic advantage through knowledge and not the strategies or actions implemented by competitors. Knowledge can be regarded as a strong approach that opens numerous ways of success. It is that weapon that help organisation to evaluate solutions in financial and other professional difficulties.

Wells Fargo, the world’s most valuable retail bank, has been fined to pay $185 million dollars after the exposure of schemes that defrauded customers in line with a business model, organized from the highest levels of the company, to boost its profits and growth (Beams). According to the US Consumer Financial Protection Bureau (CFPB), the bank opened 1.5 million store records and more than a large portion of a million accounts without clients ' authorization. Bankers moved assets from clients ' records into newly made accounts without their insight. The CFPB said that it resulted in customers being charged for insufficient funds or overdraft fees because the amounts that they were charged were not in their accounts. The bank also created more than 565,000 credit card accounts, of which 14,000 credit cards totaled more than $400,000 in fees and interest charges (Beams).

Wells Fargo is known to be a very strong financial lending company. Their strengths is the high cash volume of over $500 billion in assets as well as being a powerful distribution in the banking industry. Another strength is that they have relationships to serval different industries such as real estate, technology, media, financial services, retail, and many others. Since the 1800’s they have main their roots into the mind of individuals of being a strong and trustworthy company. Wells Fargo is a well-known name and so is their marketing strategy. The company is fundamentally base on hardworking and smart employees from all over types of diverse lifestyles. Being considered America largest bank ranking at number twelve in the most admired companies worldwide. A strategy that I believe Wells Fargo should take maximum advantage of its strength will be there market strategy. Wells Fargo is well recognize for their marketing strategy in the banking industry, so by marketing well their services is a way of building strategy like a bridge. It help deliver these services nationwide and reach the company goals by using various means available. Overall Wells Fargo strengths is the reason why they are top competitors. Now like any other company Wells Fargo has their weaknesses, these weaknesses include confusion or large scale activity. Being such a large company it is hard to personally know all individuals within the community. By being so large they become targets of fraud and

Wells Fargo was founded on March 18th, 1852 by Henry Wells and William Fargo to serve the West during the gold rush. The company offered Banking (buying gold and selling paper bank drafts as good as gold) and Express (rapid delivery of the gold and anything else valuable). They opened for business in San Francisco, and earned a reputation of trust by dealing rapidly and responsibly with people’s money. (History of Wells Fargo, n.d.)

I really don’t have any clue, but I look online and i have found an article about Wells Fargo. Apparently Wells Fargo have set the vision for an organization. Wells Fargo vision is that they want to “satisfy all their customers’ financial needs, ect. Wells Fargo is the largest bank in the U.S. by market capitalization. It beat Bank of America and JP Morgan in last few years. Barron’s ranked it as the best financial services company in the world. Wells Fargo is the only “AAA” credit-rated bank in the United States. This is the highest possible rating from Moody’s.

The premise for this paper is the conflict that occurred with Wells Fargo Bank that came to Americas attention in 2016. Wells Fargo employees opened accounts in customer’s names without their consent. Employees went as far as signing the customer’s names to the paperwork. There have been many reasons that have come to light as to why employees would have opened accounts without customer’s knowledge. One of the key issues that have been discussed is the fact that employee (sales employees as well as management) bonuses were dependent on the employees selling bank products and opening new accounts. This includes credit cards, overdraft protection, new checking and savings accounts any product the bank offered were included in the bonus eligible

Crystal flicked her ear as she finished catching a fish. She stretched her paws as she thought about what it would be like to be in a Clan. Crystal padded off to her den, which was a small-unused badger cave right beside the foot of a tree. She carefully ate her fish; she tried her best to be quiet. Crystal did not want FeatherClan to hear, scent, or notice her. If they did, Crystal shook with fear as she thought. They would probably cave in my home, and then throw me out. . Then I would have nowhere to go. I would be homeless. I would have to sleep underneath trees and travel continuously. . She sighed before curling up in her underground cave. She continued to eat her fish. When she finished she groomed her pelt and went to sleep.