Wells Fargo is a bank that outperformed others in its industry even during a general downturn in the banking industry. It was seen as a posterchild for good leadership in the 1970s and 80s. In fact, Jim Collins (author of Good to Great) uses Wells Fargo as an example of one of the companies who did get the “right people on the bus” leading to spectacular earnings: First Who – Get the Right People on the Bus.
After viewing the case videos, be able to do the following:
- Explain how an employee at Wells Fargo who was opening accounts illegally might explain their actions using the perspectives of ethical frameworks.
- Explain how a whistleblower at Wells Fargo might explain their actions using the perspectives of ethical frameworks.
Watch the Videos
Wells Fargo sued for fraud | NBR (May 6, 2015)
Wells Fargo to Pay $185 Million Fine Over Illegal Account Openings | WSJ (Sep 6, 2016)
Here’s how Wells Fargo workers created fake accounts | CNN Business (April 11, 2017)
Sen. Warren to Wells Fargo CEO: “You should be fired.” | C-SPAN (Oct 3, 2017)
Wells Fargo whistleblower on fraudulent banking practices | CBS News (Aug 3, 2018)