Items Tagged with 'Cross-selling'

ARTICLES

  • Wells Fargo fallout: New York places restrictions on incentives for bank employees

    Compensation tied to employee performance needs 'effective oversight'
    At the core of the fake account scandal surrounding Wells Fargo right now is the fact that more than 5,000 of the bank’s former employees opened more than 2 million fake accounts to get sales bonuses. As the Wells Fargo situation works it way through various political and judicial machinations, the state of New York is taking measures to ensure that similar behavior, which led to a $185 million fine for Wells Fargo, doesn’t happen again.
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  • Is Wells Fargo scandal just the beginning of big-bank bad-behavior probe?

    CFPB director: "We will be looking for these types of problems"
    A quick search through the CFPB's public consumer complaint database produces some alarming results that raise the question: "Is Wells Fargo’s cross-selling scandal over and is it really limited to only one bank?” The following complaint examples do exactly what the database is designed to do, "humanize the problems." With millions of customers already impacted from Wells Fargo’s scandal, you can bet potential and current borrowers are now more weary about trusting banks.
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