Wells Fargo Drops Product Sales Goals for Retail Bankers

Updated on
  • Step taken after CFPB fines bank for creating fake accounts
  • Treasury Secretary Lew says scandal shows need for CFPB

Wells Fargo Fined $185 Million for Phony Accounts

Wells Fargo & Co. eliminated product sales goals for its consumer bankers as the company seeks to reassure regulators, lawmakers and customers after employees opened more than 2 million accounts without clients’ approval.

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