CBS News - 1/23/20

Federal regulators are fining former Wells Fargo CEO John Stumpf $17.5 million and banning him from the banking industry for life for his role in a scandal in which company employees opened millions of fake accounts without customers' consent. 

For Immediate Release: January 23, 2020

Media Contact: [email protected], 603-339-0042

NATIONWIDE — In response to fines and work restrictions brought against former Wells Fargo executives by the federal Office of the Comptroller of the Currency, Committee for Better Banks member Patrick Creaven, a five-year Wells Fargo Communications Associate from Concord, Calif., said:

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.