Professor Elam

Tuesday August 21, 2018

Look at the numerous articles posted on this blog in the Fall of  2017 and during the Ethics Class Spring 20148. WFC was guilty of creating both accounts and credit cards not requested by customers. This resulted in fees to WFC. WFC fired customer representatives who did not fill their 'quotas.  The CEO lost his job in six short weeks after the revelations but of course left  with millions gained in salary and stock options. CEO John Stumpf was out.

The bad news continues in the Wealth Advisory Service.

Along the same lines,  advisors were told to push high fee products to customers.

Ethical behavior is a lot like rust, when you spot a little on the surface, there is likely to be even more unseen beneath that surface.