Wells Fargo employees claim they were fired for refusing to create fake accounts

By: Rob Smith

Wells Fargo employees claim they were retaliated against for reporting unethical demands to meet the company's sales goals.

Wells Fargo paid $185 million in fines and fired 5,300 employees for creating millions of fake accounts, but a half dozen workers who spoke to CNN say they were fired for speaking up!

6 PHOTOS
The most valuable banks in America
See Gallery
The most valuable banks in America

1. JPMorganChase

Current worth: $2.47 Trillion  

Photo credit: Reuters

5. U.S. Bancorp 

Current worth: $438.5 Billion 

Photo credit: Reuters 

6. PNC Financial 

Current worth: $361.3 Billion 

Photo credit: Reuters 

7. Capital One

Current worth: $339.1 Billion 

Photo credit: Getty

8. BB&T 

Current worth: $221.9 Billion 

Photo credit: Getty

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

One banker said he refused to open up phony accounts and was fired 8 days after calling an ethics line to report the requests.

A former Wells Fargo Human Resources official said the bank conspired to fire employees for minimal offenses after they made calls to the ethics hotline. He said:

"If this person was supposed to be at the branch at 8:30 a.m. and they showed up at 8:32 a.m, they would fire them,"

Wells Fargo disputes the claims, saying "We do not tolerate retaliation against team members who report their concerns in good faith."

Read Full Story

Markets

DJIA 21,080.28 -2.67 -0.01%
NASDAQ 6,210.19 4.94 0.08%
S&P 500 2,415.82 0.75 0.03%
NIKKEI 225 19,686.84 -126.29 -0.64%
HANG SENG 25,639.27 8.49 0.03%
DAX 12,602.18 -19.54 -0.15%
USD (per EUR) 1.12 0.00 0.02%
USD (per CHF) 0.97 0.00 0.00%
JPY (per USD) 111.32 0.00 0.00%
GBP (per USD) 1.28 0.00 0.01%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.