The 2016 Wells Fargo case revealed one of the largest scandals of any bank, whose employees opened millions of unauthorized accounts in the names of their customers. These cases offer very valuable le

The 2016 Wells Fargo case revealed one of the largest scandals of any bank, whose employees opened millions of unauthorized accounts in the names of their customers. These cases offer very valuable lessons about corporate governance and ethical leadership, but at the same time, point to dangers within a highly toxic corporate culture. Background of the Wells Fargo Scandal 1. **Unrealistic Sales Quotas**: The management of Wells Fargo set very aggressive sales quota targets for employees, pressuring them to cross-sell a variety of financial products to customers; the target for such employees was eight products per customer, building a lot of pressure to reach the quotas. 2. **Unethical Behavior**: Such pressures led some employees to opening accounts without the knowledge or consent of the customer. More than 2 million fake checking, savings, and credit card accounts were created between

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