News

SF Chronicle - Patrick Creaven - 10/25

On Monday, Charles Scharf, Wells Fargo’s fourth CEO in three years, took the reins of a bank in turmoil. If he were to look around the Bay Area customer service center where I work, however, turmoil is not the first thing he’d notice. Instead he’d find nearly 400 dedicated and highly trained employees who have diligently helped Wells Fargo retain customers through some of its hardest years.

With CEO Tim Sloan recently announcing his retirement, Wells Fargo workers traveled to Dallas to urge shareholders to support resolutions requiring the bank to issue reports on incentive pay and gender pay equity at its annual meeting. Bank workers also delivered (yet again) a petition demanding the bank’s leadership meet with the Committee for Better Banks. to appeal to Wells Fargo shareholders at the bank’s annual shareholder meeting attend.

Employees at the Pentagon Federal Credit Union (known as PenFed) call center in Eugene, Oregan are speaking out after the credit union announced it is moving over 100 jobs to Virginia or Texas.

Employees say more than 100 told they have to relocate or be out of a job

More than 100 workers at Pentagon Federal Credit Union in Eugene are being told to relocate across the country or find a new job after the company announced this week it was consolidating departments and moving many workers in Oregon and Virginia to Texas.

NEW YORK/WASHINGTON April 9 (Reuters) - The day after former Wells Fargo & Co Chief Executive Tim Sloan told U.S. lawmakers he was transforming the bank’s high-pressure culture, Federal Reserve officials met privately with bank employees.

At the meeting on March 13, which has not been previously reported, Fed officials were told by four bank employees that little had changed within the bank’s culture since the scandal that engulfed Wells Fargo almost three years ago.

A day before he was to appear at a congressional hearing focused on the biggest banks in the United States, Bank of America’s chief executive, Brian Moynihan, said on Tuesday that the bank planned to raise its minimum wage to $20 an hour from $15 over the next two years.

It was another example of how big banks are trying to deal with shifting political winds in Washington, where they face new scrutiny under the Democrats, who now control the House of Representatives.

Refusing to back down after CEO Tim Sloan “snub” at U.S. House of Representatives hearing, hundreds of bank workers, CWA union members and community allies marched through downtown Minneapolis and descended upon Wells Fargo’s offices to deliver (again) a petition signed by over 19 thousand bank employees and customers demanding the bank’s workers be treated with respect and meet with the CBB in order to fix entrenched abusive conditions detailed in recent news reports.