Seven months after Wells Fargo’s fake account fiasco came to light and the bank ditched its high-pressure sales goal incentive program for retail banking employees, a new report reveals the company also revised its aggressive sales tactics for its credit-processing business following an internal probe. [More]
consumer banking
U.S. Bank CEO Warns Employees: Make Fun Of Wells Fargo And You’re Fired
By 9.16.16 — Updated: 9.30.16
It’s been a (deservedly) bad month for Wells Fargo, what with the bank being ordered to pay $185 million in penalties because employees opened millions of bogus accounts, not to mention the ongoing Justice Department investigation. It would seem like a prime time for the competition to pile on the misery and steal away customers, but the CEO of U.S. Bank is demanding his staff not give into that temptation. [More]
Now Goldman Sachs Wants To Be Your Everyday Bank
By 6.13.16
After nearly 150 years of whiz-bang multibillion-dollar Wall Street investment banking, Goldman Sachs is, for the first time, wading into the humdrum world of savings and checking accounts, by (sort of) putting its name on a consumer banking platform. [More]
