This Bank Was Hoping Wronged Latino Immigrants Couldn’t And Wouldn’t Speak Up
It has just come to light that Wells Fargo employees targeted Latino immigrants the most during their fake accounts scam.
CREDIT: FOX / Glee / thegreatrosh / Tumblr
According to Bloomberg reporter Laura Keller, Wells Fargo employees took advantage of Latino immigrants when creating bogus accounts to meet their target sales goals. Wells Fargo is under fire after employees created 2 million false accounts under existing customers’ names. Part of the reason for the false accounts was Wells Fargo’s incentive program that offered financial compensation for reaching the sales goal of creating eight accounts per customer. Why eight? Because it rhymes with great. After the scandal that took place between May 2011 and July 2015, Wells Fargo fired 5,300 employees and claimed to be taking responsibility for their actions. Though, it was Elizabeth Warren who really made some change happen when she grilled the now-ex CEO of Wells Fargo John Stumpf, calling for criminal investigations.
“So, in the end, what happened was the [Wells Fargo] employees were making all these bogus accounts for Latino immigrants who had far less of an ability to speak out, you know, language barriers, things like that,” Keller said in an interview. “So, these employees sort of know that by targeting these particular customers, they would not be caught as easily as maybe some other customers.”