Why Wells Fargo Is Still Trying to Fix Itself
The Journal.
The Wall Street Journal
4.2 • 5.8K Ratings
🗓️ 19 September 2023
⏱️ 17 minutes
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| 0:00.0 | It was 2016, and the bank Wells Fargo was in a lot of trouble. |
| 0:11.2 | Wells Fargo's fake account scandal has done a real number on the bank's reputation. |
| 0:15.6 | This is truly outrageous. |
| 0:17.4 | Thousands of Wells Fargo employees at bank branches across the country opened millions of illegal |
| 0:24.2 | accounts. |
| 0:25.2 | The employees of the bank were caught opening millions of fake accounts in their customer's |
| 0:29.6 | names. |
| 0:30.6 | The Wells Fargo fake account scandal is bigger than originally thought. |
| 0:34.7 | That's my question about Wells Fargo. |
| 0:36.2 | How far up the line did this go? |
| 0:38.3 | Some former employees say they were pressured to sell account add-ons to customers to meet |
| 0:42.6 | what they say were unattainable sales goals. |
| 0:46.4 | The story rocked the banking world. |
| 0:49.6 | Here's our colleague Ben Eisen. |
| 0:51.2 | The thing about this scandal is it kind of revealed a sort of rot at the core of the |
| 0:56.9 | bank. |
| 0:57.9 | I think there was something bad going on inside this bank for a very long period of time. |
| 1:04.4 | In last week, one executive was sentenced for her role in the fake account scandal. |
| 1:09.3 | She was the only person from Wells Fargo to face a criminal penalty. |
| 1:14.0 | But that isn't the end of the story for Wells Fargo because the bank still hasn't recovered. |
| 1:19.3 | I think the most interesting thing about the Wells Fargo scandal is just how long it's |
| 1:24.2 | lasted. |
... |
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