Wells Fargo bankers overcharged clients for higher bonuses

Evidence that embattled bank Wells Fargo had swindled some of its clients emerged in a June conference call led by its managers, according to two employees who were present during the call, The Wall Street Journal reported Monday.

Wells Fargo’s ongoing sales scandal: Under a highly unusual policy, employees’ bonuses were tied to how much revenue they brought in, the report said.

The practice reportedly led retail employees to open as many as 3.5 million fake accounts, in a controversy first brought to light last year.

Read more on the Wells Fargo currency trades controversy in The Wall Street Journal.

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