Wells Fargo's Corporate Culture

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My article “Can New CEO Tim Sloan Fix Scandal-Plagued Wells Fargo’s corporate Culture?” by Peter Dreier tells us just how Wells Fargo will go to fraud the shareholder and their customers. Wells Fargo has been hit over the year will so many fines for unscrupulous banking procedures due to overzealous sales goals. Hoping to turn it around the bank has split the job of CEO and Chairman of the Board into two position instead of one. The CEO position formerly held by john Stumpf will not go to Tim Sloan. With this bank institution going down hill, is it possible for the corporate culture to change with just putting a man in place with some many converses himself. The decline of Wells Fargo has been going on since 2006. “The bank started by…show more content…
With all of the fining that the bank has endured, why would anyone want to bank there. A customer has a right to good look their banks history and if the bank has been investigated or fined for fraudulent behavior. I think the bank probably should have fired the former John Stumpf along time ago instead of waiting. The banks culture is showing that at Wells Fargo corruption starts at the top right to bottom of the food change and business as usually. Unfortunately, people who have morals spoke out and had lost their jobs and now they pick someone that has shading…show more content…
It started when the bank started foreclosing on a wheelchair bounty lady in 2012 that she lived in since she was 12. Mr. Sloan was also the boss of Carrie Tolstedt who started with all of these fraudulent accounts to boost sales for the shareholders. Even though she left Wells Fargo, she is a pretty rich woman by owning $43 million worth of stock which you would think by breaking the law you would think she should get nothing. She has put the company in jeopardy the bank shouldn’t owe her anything. Even by the banks history, Wells Fargo has shown a long line of corporate greed so why wouldn’t that rub off on their employees. Tim Sloan, I think is trying to right everything. He worked out a deal for Ana Casas Wilson (wheelchair bounty individual), even though she didn’t live long to see the deal go through, her family did get the house back and is living in it. He is hiring back some of the people that were fired for reporting the fraudulent accounts. Tim is also bowing his head and saying that the top management knew about the fraudulent accounts. He is trying to put the humanity back into Wells Fargo. With everything that the bank went through, I don’t think it was a good idea to promote within. To easy to go back to old ways. Thank heaven that we have safety precautions in

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