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!

5 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
  • DJI26935.07-159.73-0.59%
    NASDAQ8117.67-65.21-0.80%
  • NIKKEI 22522079.0934.690.16%
    Hang Seng26226.41-209.26-0.79%
    DAX12468.0110.310.08%
  • USD (PER EUR)1.10-0.0006-0.06%
    USD (PER CHF)1.01-0.0004-0.04%
    JPY (PER USD)107.740.22300.21%
    GBP (PER USD)1.24-0.0023-0.18%