Wells Fargo

Wells Fargo: course work “Explain the role of Wells Fargo in the financial system. Assess its exposure and performance from 2009-2016, after the global financial crisis, including a comparison with peers. Did it do well or badly?” The bank Wells Fargo is an American international banking and financial services holding company which was founded in 1852 by Henry Wells and William G. Fargo in New York. As of the end of 2015, the total assets of Wells Fargo are more than $1.7 trillion, ranking 3rd

involving the Wells Fargo company, the judge ordered the company to pay a penalty worth $5.4 million to a manager who had been fired from the company in 2010 for reporting his suspicion on fraudulent behavior to seniors on the ethics hotline. The decision that the employee should resume back into his position in the company was also included in the verdict reached by the judge. The supposed $ 5.4 million was meant to be the compensatory fees for all the damages that he had been caused as well as to cater

Management Wells Fargo stands as one of the global companies with an exceptional reputation for integrity as well as principles performance that has been guided by their exceptional leadership. The vision the company is committed to realizing is in using their values as a guide for each of their decisions, conversations as well as interactions. The overall assertion is that the company employs its values in anchoring their products and services in all their channels of operations (Wells Fargo, 2016)

The article “Wells Fargo leadership under scrutiny as review dredges up more issues” written by Valerie Bolden-Barrett. Is about how the Wells Fargo saga uncovered 1.4 million more fake credit cards and bank accounts in customers' names, creating the total number to 3.5 million. Also, they charged a total of 800,000 customers insurances that they did not need when they took loans to buy automobiles. Last year, the bank agreed to pay $185 million dollars to reconcile accusations that it encouraged

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.) Today, Wells Fargo is a bank holding company that engages in the

help keep negative press coverage from effecting their company. Often, we see these clauses in banking agreements, cell phone companies and others corporations that have a very large consumer base. In the month of September of 2016, Customers of Wells Fargo learned of a disturbing fact: The company in which they entrusted their primary means to an end, had been defrauding

there are a possibility and a fragment of truth to such allegations. It is implausible that Wells Fargo had mastered the art of manipulating the system without regulators getting a hint about it. No deception plan can be a full-proof plan if there are people involved in it. There is a possibility of leakage of information by some or the other person in the organization. So, I doubt that nobody in Wells Fargo or in regulation did have any part to play in this, maybe they turned a blind eye. I believe

On September 8, 2016, Wells Fargo was caught in one of the biggest fraud scandals in banking history. The scandal was brought to light when the international banking and financial company were caught creating 3.5 million of fake accounts and services on behalf of their clients when they started to realize additional fees and accounts that they did not sign up for (Sweet, 2017). The earliest coverage of the scandal came as early as 2011 in an article published by the Wall Street Journal. This practice

In September of 2016 new broke that a large organization, Wells Fargo was involved in a rather extraordinary scandal. Employees of Wells Fargo in order to meet sales goals were creating fake emails to sign customers up for banking account and credit cards. Debit card and Pin numbers were created for these accounts. Then they would transfer money back and forth between these accounts. On top of this they were doing these activities without customers consent. Now some would argue that some bad eggs

understanding of the financial services industry than to participate in the Wells Fargo’s Freshman Diversity Finance Forum. Wells Fargo provides individuals with a place to bank, and assists families in realizing the American dream of home ownership, and aids large and small businesses in building sales and creating jobs. In order to become a well-rounded business leader, I will need exposure to institutions such as Wells Fargo, so that I can understand how individuals, families and businesses are