Hardly a week passes without at least one corporate crisis in the news, often with unpredictable and long-term negative consequences, impacting not only the organization’s reputation, but also all its internal and external stakeholders.
Entries in Wells Fargo (16)
Trust Across America’s focus has always been on finding and highlighting the “best in breed” corporate citizens while leaving the worst for the scrutiny of others. But today is only Wednesday and my inbox is swamped with so many trust busting stories that my head is spinning.
In his most recent book Thank You for Being Late, Thomas Friedman cited BusinessDictionary.com for the following definition of culture:
Earlier this week Richard Bistrong and Marc Hodak, writing for the FCPA Blog, considered how the Wells Fargo incentive system got so out of whack, and how this out-of-whackness contributed to the scandal around fraudulent account openings that has engulfed the bank since last August.
When Wells Fargo imposed a target of eight accounts per customer on its branches, the bank created an aspirational goal. Cross-selling is a proven method of encouraging growth and maximizing upside, with little incremental expense.
How will President Trump and the new administration view compliance officers and their work? Are compliance officers friend or foe?
In recent years, the financial sector has produced one shocking scandal after another. The latest outrage came when news broke of how Wells Fargo’s cutthroat sales culture drove low-level employees to open more than two million unauthorized customer accounts.
Wells Fargo said in a securities filing the Justice Department and the Securities and Exchange Commission are now among the federal and state agencies investigating its sales practices.
We saw an interesting discussion this week on CCTV America's news show The Heat.