In September 2016, news broke that Wells Fargo had opened more than 2 million checking and credit accounts without customers’ knowledge. Now we find the scandal runs deeper, with Wells Fargo unfairly firing employees as retribution and blacklisting them from future jobs in banking. In this episode, we dissect the various aspects of the scandal and give listeners three takeaways to avoid the type of public embarrassment Wells Fargo faced. We also want to give a shout out to the podcasts we mentioned in this episode: NPR’s Planet Money Podcast (Episode 732: Bad Form) and The Ezra Klein Show Episode with Stripe CEO Patrick Collison.
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