Please enable JavaScript.
Coggle requires JavaScript to display documents.
Wells Fargo Fake Account Scandal Wells_Fargo_Logo_(2020) - Coggle Diagram
Wells Fargo Fake Account Scandal 
Socio-Cultural Forces
-
Employees Involved
Jessie Guitron filed a lawsuit against Wells Fargo on the grounds that the company fired her exposing fraudulent practices at the bank
Opened 1.5 million unauthorized bank and 565,000 credit card accounts for customers in an effort to increase sales targets
-
Charles Scharf (CEO) being scrutinized in working towards turning the bank around from the scandal with the team
-
Customers Involved
When indications of fraud appear on customers accounts, banks are required to investigate for criminal activity
-
Community's Perspective
The recent increase in profits can indicate increased trust by the public since the scandal and can also indicate changes were made internally
Fed's capped the bank's assets, restricting its ability to expand and create new jobs. Focus on restructuring current operations should be implemented to prevent widespread damage public again
-
-
-
-
-