Wells Fargo Sales Quotas Top List Of Workers’ Complaints

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When you call or stop in at a bank, you’re likely not shopping for overdraft insurance, travel insurance or another credit card. But Wells Fargo employees are likely to try to sell you one because the bank has a quota system that has “battered employee morale and led to ethical breaches, customer complaints and labor lawsuits,” according to a Los Angeles Times investigation. Thirty Wells Fargo employees in California were recently fired for “cheating” on the goals. The Times reports employees opened unneeded accounts for customers, ordered credit cards without customers’ permission and forged client signatures on paperwork.

Bank employees who say they’ve had enough sales goal pressure protested Monday outside Wells Fargo corporate headquarters in Minneapolis and then tried to hand deliver a petition with more than 10,000 signatures calling for the bank to change its practices.

Former Wells Fargo workers told the Times that bank supervisors said employees would “end up working at McDonalds” if they did not meet quotas. Protesters in Minneapolis called for “access to full time, stable employment.”

Protesters say education, humanitarian aid suffers from Wells Fargo policies

Reducing Wells Fargo’s sales goal pressure was only one of several banking reforms protesters would like to see.

You might not think bank policy has an impact on education, but the St. Paul Federation of Teachers (SPFT) says it does. When the bank forecloses on rental properties, some tenants aren’t told until the eviction notices arrive. “Landlords continue to collect their rent from their renters even though they know they’re going into foreclosure and then they give the families one or two days and tell them they’re going to be evicted. This causes so many problems with our students in school,” said SPFT President Denise Rodriguez. She says when students’ home lives are disrupted, they don’t do well in school. Rodriguez wants Wells Fargo to recognize the disruption to students’ lives and work with teachers and the community to make changes to their foreclosure practices.

Members of the Somali community want Wells Fargo to work with them to address the issue of money transfers to family members in Somalia. Wells Fargo, like all other major banks in Minnesota, will no longer work with the money service businesses that are the only practical method to send financial support to East Africa. The livelihood of millions of Somalis depends on these remittances – to feed themselves, for kids to go to school, and to get medical attention.

“This is a crisis affecting our families and we need a resolution as soon as possible,” said Sadik Warfa of Minneapolis. “Wells Fargo has the opportunity to take a leadership role in solving a humanitarian crisis and we have come here today to ask them to do just that.”

Wells Fargo’s response

The bank insists it does not try to sell products or services to customers they don’t need. In an email to The Guardian, Wells Fargo spokeswoman Richele Messick wrote:

“We place a high priority on ethical business practices and a culture of doing what is best for our customers. It is in Wells Fargo’s best interest for customers to purchase only the products they need and benefit from – that’s what keeps them coming back for more for a lifelong relationship.”

Bill Sorem

Bill Sorem is a longtime advertising professional who started with Campbell Mithun and ended up with his own agency. After a tour as a sailing fleet manager in the Virgin Islands he turned to database programming as an independent consultant. He has written sailing guides for the British Virgin Islands and Belize, and written for a number of blogs. In 2010, he volunteered as a citizen journalist with The UpTake and has stayed on as a video reporter.

Michael McIntee

Michael McIntee is a former network TV news executive with more than 30 years of broadcasting experience. He began his broadcasting career at the University of Minnesota's student radio station. He is an expert producer, writer, video editor who has a fondness for new technology but denies that he is a geek. More about Michael McIntee »

4 thoughts on “Wells Fargo Sales Quotas Top List Of Workers’ Complaints

  1. WF spokesperson RIchele Messick hasn’t got a clue what goes on in the branches. She needs to switch jobs for a little while and see what the truth is. I suspect she wouldn’t last 90 days in a branch; probably much less.

  2. I worked at Wells Fargo for 8 years total and they are the most unethical company when it comes to sales. They turn a blind eye towards “gaming” the system and holds everyone accountable. I left them with not a care in the world because I literally couldn’t sleep at night knowing what they encouraged. The best thing I did was leave. I once had a manager after a whole year of being number 1 in customer service tell me that if I didn’t meet gold standard in sales(that’s a term) that I could easily be replaced. Mind you the people I was being compared to literally stole social security numbers and merely claimed the sales as their own. Horrible people, horrible company. Anyone that has worked for this company can relate. You

  3. This is the truth about Wells Fargo. I am so happy this is being made known. I worked there for 2 miserable years. I have a home and need a job. I almost quit and I never thought I could do that. It took me 2 years to find a job that I would like and not want to quit. I did want out of Wells Fargo after 2 months. They tried to make me call people on the do not call list. They made me open accounts for my family and friends, all the time. The managers at the branches all have over 10 accounts if not more. They make people sign a blank form for quick apps. The customer never comes back or even wanted the account. They just were forced to sign a blank form. I was embarrassed to work there. I hope they get investigated and look at the customers multiple accounts. Half are not needed and the other half are just accounts the banker opened to “upgrade the account”. They made so many people open new accounts when they could just convert the account and keep the same account number. It is a pain to change accounts with direct deposit and all your other finances tied to it. Even if they cost a customer 10$-20$ out of pocket, because of new checks and new cards, They did this to thousands and thousands of people. The district manager and manager are in on it, but they will not defend you if you get caught.