Case Analysis Of Wells Fargo

Wells Fargo has been in business for over 160 years and was founded on March 18, 1852, by Henry Wells and William Fargo. The company opened its first office, in San Francisco, on July 1852. Wells Fargo served the West with banking needs, which included gold and paper bank drafts, and offered quick delivery of gold or other valuables. In1855, the first of many financial dilemmas took place when a drought made it impossible to mine for gold, and this caused almost 200 businesses in San Francisco to fail, but Wells Fargo didn’t fail, they prospered. In the early1860s, Wells Fargo acquired almost all the stage lines from the Missouri River to California, giving them a monopoly on transcontinental delivery services.

Paying this amount alone would greatly have decreased the profitability of BWO, and coupled with the possibility of having to pay Wells an additional $100,000 for the full market value of his former stock, the only reasonable choice was to reinstate Wells as executive

It provides financial services to California. The Name of initial board of directors of the Company were Wells, Fargo, Johnston Livingston, Elijah P, Edwin B. Morgan, James McKay, Alpheus Reynolds, Alexander M.C. Smith and Henry D. Rice. The Company faced the first

Today, Wells Fargo is widely recognized for its commitment to the Hispanic and Latino community. This commitment however, is not a recent phenomenon and dates back to before the turn of the century. Since its founding in 1852, Wells Fargo had encouraged team members to treat all customers with courtesy and respect. The once informal policy became company standard in 1888 when agents and managers were required to show “proper respect to all. Let them be men, women, children, rich or poor, white or black…”

1) -During the Great Recession Wells Fargo targeted black people and convinced them to take out subprime loans. Such actions lead to the result of Wells Fargo being sued in 2010 for discrimination and a year later settling the suit paying more than 174 million. -The early economy was built on slave labor. Not only did slaves build the Capitol building, but they built the White House too.

“The most polite and gentlemanly treatment of all customers, however insignificant in their business, is insisted upon. Proper respect must be shown to all- let them be men, women, or children, rich or poor, white or black- it must not be forgotten that the company is dependant on these same people for its business.” When Henry Wells was alive, there were 8,000 workers at Wells Fargo. Today, there are 150,000 or more employees at Wells Fargo. There are 6,000 branches and from 1990-1998, their stock went up 1,197% (Smith).

Wells Fargo was found in 1852, Wells Fargo is a diversified, community-based financial services company that provides banking, insurance, investments, mortgage, and consumer and commercial financial services (Wells Fargo Today, 2017). Wells Fargo icon displayed a horse carriage with the logo “Together we’ll

Introduction One thing that has aroused my curiosity when I saw the logo of Wells Fargo, it is the western movies image that many non-Americans associated with the U.S.A. this logo (stagecoach) for a bank is unusual and as ex-bank employee, I try to learn more in order to compare. What I learned arouse my wish to work upon my graduation and why not you? Its welcome, I quote “Regardless of our growing size, scope, and reach, we must never lose sight of putting our customers first and helping them succeed financially.” (Wells Fargo & Company) summarize my interest for this company. For a financial entity of this size, you must know the history of Wells Fargo, you must know values and culture of Wells Fargo, and you must know the strategy and goals of Wells Fargo.

The terrorist attacks on our country that occurred on September 11, 2001 were, without a doubt, the most horrific and deadly in our history. In the aftermath of these attacks, the United States Congress moved quickly to pass legislation that untied the hands of law enforcement in an effort to make investigating terrorist organizations easier. On October 26, 2001, a mere 45 days after the 9/11 tragedy, Congress passed the USAPATRIOT (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism) Act. The overall purpose of the USA PATRIOT Act was: “To deter and punish terrorist acts in the United States and around the world, to enhance law enforcement investigatory tools, and for other purposes

Also they had lots of other big competitions which they had to focus on. They need to get consumers in order to have a proper company. Wells Fargo competition between other banks helps get them more consumers toward their banks. Also buying Wachovia National Banks helps impact their bank because they expanded. It also helped spread banks across the U.S. which helped make them a major bank in America.

The firing was prompted by Arthur T. wanting to give back profits to the employees and customers instead of giving shareholders (mostly family members)

In May of 2015, Wells Fargo faces a class action lawsuit, led by Mike Feuer, lawyer of the city of Los Angeles, for the dishonest and complete disregard to the treatment of its workers and clients. As far as the case goes, Wells Fargo has been blamed for setting unrealistic goals for its workers, actuating them to use deceitful means for meeting the set standards. Wells Fargo has basically set itself up for a classic case of “Ill-Conceived Goals, where such high pressures are set onto the workforce, to the point where they are willing to break their own integrity and furthermore the law in order to meet such ridiculous standards as stated above. Los Angeles attorney Feuer started exploring the bank in the wake of a report, in which a few previous

When it comes to the Ethical Decision Model, it does not just pertain to the employees who opened these accounts but also leadership who either failed to realize what was going on or decided to sweep it under the rug by just covertly firing some employees. Wells Fargo did take the first step in recognizing the problem but failed to define it, which explains why these unethical behaviors continued for so many years. When the corporation was initially aware of what was going on, they should have acted immediately and strategized a solution that would dilute the possibility of it occurring again. Instead of defining the problem, which would have foster, a proper solution but company decided to just terminate

Prior to this, Anderson had shredded several of the Corporations’ financial and deleted numerous emails to remove traces of any fraudulent activity. Due to this misconduct, Anderson

A system to check and balances the benefit of all the board of directors and to avoid some of top management from making decisions that only benefit themselves is created and named corporate governance. Corporate governance means the system of rules, practices and processes by which a company is directed and controlled. The set of rules provided as a guidelines for the board of directors to make sure that accountability and fairness in a company’s relationship with its stakeholders such as financiers, customers, management, employees, shareholders and also society in order to achieve company’s goals and targets in a manner that add a value to the company. All of the stakeholders play an important role in corporate governance to ensure that