SAN FRANCISCO (CBS SF) — Bank employees say that Wells Fargo Bank isn’t the only bank where employees carry out questionable and predatory sales policies, according to a report released earlier this summer.
For the first time, bank workers and former bank workers from the nation’s biggest banks will testify at a congressional hearing about the aggressive and unreasonable sales goals that are forcing bank workers to push unnecessary products on their customers.
Bank workers are routinely pressured to open more and often unneeded accounts for customers as they try to meet strict sales goals, according to a report set to be released Friday by two labor advocacy groups.
Rigid sales quotas at Wells Fargo Bank have driven employees to open unauthorized accounts for customers, sticking them with bogus fees and damaging their credit, according to a city of Los Angeles lawsuit that echoes a Times investigation.
Hundreds of bank workers and supporters occupied the lobby of a Wells Fargo and Bank of America in downtown Los Angeles to protest the bank’s obsession with sales goals that affect bank workers and consumers across the nation.