The Wells Fargo Scandal by NBC4 Washington
The Wells Fargo Scandal of opening millions of unauthorized accounts for its customers has resulted in $185 million dollar fine for the bank.
U.S. & THE WORLDSep. 9, 2016
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What is more startling is that 5300 employees were fired over the incident according to the Los Angeles City Attorney’s Office. What more cautionary tale can there be regarding conforming to and obeying a culture of intense pressure to meet inflated sales targets? Whether the orders to make the targets any way you can come from the chain of command or whether it is a case of “everyone else is doing it” this is a harsh lesson in personal accountability for one’s choices and actions.
A similar story has played out in many companies “I was afraid I would get fired if I didn’t make the quota.” Yes, you may have gotten fired. In my book, Intelligent Disobedience, I share similar stories to make the point that getting fired may be scary and tough, but following illegal orders or a corrupt culture can land you in prison. I hope Wells Fargo would take concrete steps to create a culture of “Intelligent Disobedience” in which all personnel are supported for doing the right thing regardless if they are being pressured to do the wrong thing.