8.914 NEEDED
The shocking tactics used by Wells Fargo to cheat customers have
recently come to light. It has been revealed that Wells Fargo employees had
been ordered to open unauthorized accounts in order to meet unrealistic sales
goals. Over two million false accounts have been opened since 2011 and now
5, 300 employees have lost their jobs after the scam has gone public.
The bank was fined $185 million by various regulators. The bank’s
CEO, John Kempf, refused to step down for days, even after facing mounting
criticism in a hearing on Capitol Hill. The now infamous CEO had no shame in
giving himself and his top ranking management employees substantial bonuses,
but had no problem firing over 5, 000 middle level staff. Finally, after weeks
of tensions Kempf resigned as CEO and the Department of Justice has announced a
criminal investigation into this matter.
However, the problem is that many other banks might very well have
used the same tactics to deceive customers and window dress their financial
results. An investigation into other major US banks need to get underway as
soon as possible and those responsible must be held accountable!
In an article posted by CNN Money, employees from companies such as
Bank Of America, Citizens Bank and SunTrust have come forward and admitted that
sales obsession pervades their banks as well. Employees have argued that they
face ‘extreme pressure’ to get customers to open multiple accounts.
Up to this point, no other banks have admitted to engaging in such
unlawful practices, but who knows what these ‘too big too fail’ entities have
hidden in their books.
Please support my petition and demand that US regulators act now and
investigate this sensitive issue as soon as possible.
Thank you.
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