Kara S Alaimo, Columnist

Wells Fargo Misses a Chance to Show Off

The disgraced bank is raising pay. That's good, but restoring honor requires more.

January 10, 2017 at 11:30 AM UTC

Kara Alaimo is an associate professor of communication at Fairleigh Dickinson University. She is the author of “Over the Influence: Why Social Media Is Toxic for Women and Girls — and How We Can Take It Back.”

Let's change the subject.
Photographer: Andrew Harrer/Bloomberg

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This week, Wells Fargo will launch new compensation packages for its employees that aim to reward customer satisfaction. And 25,000 entry-level workers, including tellers and customer-service reps, received raises on Sunday that bring minimum pay from $12 to $13.50 per hour.

These are positive steps towards digging out from a badly mismanaged scandal. In September, the bank was fined $185 million after employees under pressure to boost sales opened as many as two million accounts that customers didn’t request.