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Expert Analysis

Lessons From Wells Fargo's Corporate Control Failures

By Brian Tomkiel (April 21, 2017, 12:23 PM EDT) -- For over a decade, Wells Fargo Community Bank[1] experienced a growing culture of unethical and unlawful behavior.[2] Driven by top-down sales goals tied to the number of accounts opened and funded, banking sales associates — often young and inexperienced employees — sold customers unwanted or unneeded products, and opened unauthorized/fake accounts.[3] When confronted with their misdeeds, sales associates often cited the pressure to meet unreasonable sales goals as the force motivating them to take unethical action....

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