Wells Fargo Bank

debbie in seattle

debbie in seattle

Senior Member
Location
Seattle
So, a bank is in trouble for pressuring their employees to convince the customers to open additional accounts. This has been going on forever. I have worked in the medical field my entire life and have seen what this 'greed' to succeed can do. Docs receive a bonus check for the amount of patients they see. The day all of our docs were 'presented' their bonus checks in front of the staff, one of our receptionists had applied for food stamps to help feed her 3 boys (the biological father 'couldn't afford' to help support his children). Had a doc known as Dr. Demerol because he was the highest producer of the number of patients. Come to find out, he was a drug doc, 5 minute appointments to write pain med scripts. Wonder if anyone realizes docs don't succeed unless their support staff is as good as they are?
Costco, the reason you're asked to upgrade to an executive membership is because the employees are expected to have x amount of upgrades.
Was at Kohls this week, got in an actual argument with the cashier on why I didn't want to open a Kohls credit
card. She wouldn't stop telling me why I needed one. In the end, I told her if she didn't stop, I'd stop shopping there. She says to me,"Here's a $10 dollar off coupon, starts Sept 15". I get home and look at the coupon, yea, $10 off, but only if I spend $100!!

Anyone ever think this practice just needs to stop?
 

The pressure on employees to upsell is tremendous, and you can be sure they don't enjoy it either. My personal solution is to speak with my spending, so if a business has those kinds of annoying practices, I don't shop there anymore.
 
I tell Kohl's, had one, cancelled it, don't want another. Somehow misplaced a bill (very unusual) then they sent a notice with a charge greater than the $30 I owed. Told them it was outrageous. They dropped the charge after I wrote a letter, then I cut the card up. That's why they want you using store cards. Gotcha. The only reason I used the charge was to get the discount on something. I pay cash now or use Visa. One card. One payment.

The thing with the docs-is that HMO related? What kind of honor is that to push as many patients as you can, through? Yes indeed, a good staff is very important. Helps to organize the chaos and keep things straight--it's how the docs get paid! My sis works for a doc (office manager) and her daughter thinks she doesn't earn enough. There is a lot of responsibility. Think the docs should at least go together and treat the staff to a nice lunch or something!
 

http://www.kcci.com/project-economy...-creating-millions-of-phony-accounts/41580652

Everyone hates paying bank fees. But imagine paying fees on a ghost account you didn't even sign up for.

That's exactly what happened to Wells Fargo customers nationwide.
On Thursday, federal regulators said Wells Fargo employees secretly created millions of unauthorized bank and credit card accounts -- without their customers knowing it -- since 2011.
The phony accounts earned the bank unwarranted fees and allowed Wells Fargo employees to boost their sales figures and make more money.

[h=1]5,300 Wells Fargo employees fired over 2 million phony accounts[/h]
 
The Inspector said:
http://www.kcci.com/project-economy...-creating-millions-of-phony-accounts/41580652

Everyone hates paying bank fees. But imagine paying fees on a ghost account you didn't even sign up for.

That's exactly what happened to Wells Fargo customers nationwide.
On Thursday, federal regulators said Wells Fargo employees secretly created millions of unauthorized bank and credit card accounts -- without their customers knowing it -- since 2011.
The phony accounts earned the bank unwarranted fees and allowed Wells Fargo employees to boost their sales figures and make more money.

5,300 Wells Fargo employees fired over 2 million phony accounts
Click to expand...

Pressure or not, what the employees did was wrong and they went to a lot of trouble to conceal it. I'm wondering if they were held accountable for their actions. It surely cost Wells Fargo a lot in fines and reputation. On the other hand, it seemed to be so widespread-- that's a very long time for them not to have picked up on that before the Feds even moved in. Doesn't make it acceptable but it sure makes you wonder how something like that could go on that long. Maybe management was involved.
 
debbie in seattle said:
So, a bank is in trouble for pressuring their employees to convince the customers to open additional accounts. This has been going on forever. I have worked in the medical field my entire life and have seen what this 'greed' to succeed can do. Docs receive a bonus check for the amount of patients they see. The day all of our docs were 'presented' their bonus checks in front of the staff, one of our receptionists had applied for food stamps to help feed her 3 boys (the biological father 'couldn't afford' to help support his children). Had a doc known as Dr. Demerol because he was the highest producer of the number of patients. Come to find out, he was a drug doc, 5 minute appointments to write pain med scripts. Wonder if anyone realizes docs don't succeed unless their support staff is as good as they are?
Costco, the reason you're asked to upgrade to an executive membership is because the employees are expected to have x amount of upgrades.
Was at Kohls this week, got in an actual argument with the cashier on why I didn't want to open a Kohls credit
card. She wouldn't stop telling me why I needed one. In the end, I told her if she didn't stop, I'd stop shopping there. She says to me,"Here's a $10 dollar off coupon, starts Sept 15". I get home and look at the coupon, yea, $10 off, but only if I spend $100!!

Anyone ever think this practice just needs to stop?
Click to expand...

Not 100% sure, but I think the first line of your post misses the mark on exactly what was going on.

From what I understand, the Wells Fargo employees were not convincing their customers to open additional accounts, they were actually opening up accounts for their customers without the customer's knowledge or consent.

And that also includes opening credit card accounts as well.

These people should go to jail for that.
 
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