Senator Warren made it so clear. The Wells Fargo CEO made millions when the price of the Wells Fargo stock increased, based on the increased account business that his "team members" generated. The standard for the team was that each customer should have EIGHT (8) separate accounts with Wells. Totally unrealistic. Totally. So his team did everything they could to meet the company's goals. Eventually, when publicly revealed, the CEO said he had no knowledge. But his deputy in the charge had just retired with a nice big package - after regularly firing a thousand team members a year - for years! Because the team members opened fake accounts.
To my knowledge, the customers have not been made whole. They were charged fees for the accounts. Credit card accounts could affect their credit scores for years to come.
Senator Warren, in clear detail, described the pure greed and selfishness of this CEO.
This is why the Consumer Protection Bureau is vital. If the USA is totally run by Republicans, the Bureau is toast. Another eason to vote for Hillary Clinton.
No comments:
Post a Comment