For Oscar Garza, career success was measured one account at a time. The Chase personal banker said he had a month to persuade customers to open 40 checking or savings accounts and 15 credit cards. Meeting that goal would mean an extra $800, but failure could lead to his termination.
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.
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.