Thread regarding Wells Fargo & Co. layoffs

Could the person who posted this please provide some context.

Who is the person at the OCC and what interest would they have in this? The OCC does not get involved in individual matters. So it would be helpful to understand the benefit of contacting this person.

And, who is person at WSJ, and what would their interest be?

Thanks.

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ORIGINAL POST:

Put your money where you mouth is OP. If true, both of my personal contacts below would love to hear from you.

mailto:Melinda.Barnes@occ.treas.gov

mailto:david.benoit@wsj.com

21 hours ago by Anonymous | 25 reactions (+10/-15)
Post ID: @rdv+17pJI3XZ

The rules of engagement (the Ethics Line) is created by management with the false impression to staff that it protects the employees. Wrong. It is written and executed by management to protect: management. The internal controls and checks and balances are obliterated when you do not clean house. Those that are defective mgmt that did not get caught (before on old scandals; or yet on non-public ones you mention) ensure that they keep s—ing the place dry to their own personal gain (or in collusion with others in the same circumstance) until when they face off against others in the same boat - when the civil war within breaks out. The latter is coming. You will see that when the JPM-based team that has come in begins to pay themselves bonuses (keep an eye on SEC filings) right before they exit stage left. The folks running WF and the downsizing effort well underway are there to reset the bank. They are not there for long term employment. Any words to the contrary by those same persons are to allay fears so that the people stay that they want to stay. Anyhow, back to your original point. It is incumbent upon the current exec team to purge WF of all bad apples from all scandals. Will they - maybe. But DO NOT assume any internal system will protect the employee. Unfortunately, the reality is those that control it are likely part of the problem and thus the independence and impartiality of the process will never be effective. This the Ethics Line might as well be the Exit Line. Sad, but true.

I find it ironic that you work on complaints for ethics but yet you are unethically releasing information that perhaps is confidential in nature on a random website. How did you get that promotion? Sounds like you are a problem too.

Blow the whistle to the newspapers. Take your evidence and give it secretly to one of the major news outlets that's how the original account scandal got exposed.

I got a new job that pays almost 78k more, pay is low here and tech is obsolete. Dont see any of it getting any newer!

Ethics investigations at Wells Fargo are a joke. I reported an issue in Q3 that resulted in an inaccurate Board report. Two months later I was contacted for an interview with the “investigator”. The inaccurate Board report was rectified after my report. Six months later I got a call with someone from the “investigation” team that started the call saying he was not involved in the investigation, did not know the details but was going to provide an update on the case. Strange......:The update was that the case had been closed and the allegation unsubstantiated. He asked me if I had any question. I told him that he started the call saying that the he was not involved with and did know the specifics of the investigation. I also let him know that the Board report associate with this violation had already been rectified and that being the case the allegation had to have merit otherwise why rectify the report?

After an awkward silence, he asked if I had any other question. I said No thanks.

What a joke!

All true....while the the moves over the last few years of CEO's and then their cleaning house of directs to bring in their "yes men/woman" from elsewhere is window dressing. The true cancer within WFB is layers 2,3,4 from the CEO. But......you can't dismantle the company right (?)...there are stock holders, so......back to again the statement of merely window dressing do appease the legislatures, regulators, etc.. I work there today....have been there for a very long time....leadership is void within the company as a whole....they hire managers.....not leaders. They have no idea how to change the culture to bring the employees into embracing the idea of a specific direction or change. If I didn't have the "financial" stake in the company that I do I would have left long ago. It is as caustic a environment as there possibly can be. Any mention of an issue to HR, Ethics hotline, etc. makes "YOU" an immediate target....in other words "you" become the target for creating a hostile work environment or other scape goat clause.....if you're looking for a place to start out or even continue your career, I would coach you to look elsewhere.....job happiness and contentment is not to be found within.

Post ID: @cjj+17pJI3XZ I think Wells “halfway” attempted to improve the former process, but it is still terribly flawed. I have a friend who was emailed by someone working for the Ethics Line to set up a phone call to be interviewed regarding an ethics complaint in our department. She said the email was very confusing, so she thought we were being scammed. So she came straight to me and I told her to go talk to our boss lol. I’m going to say it made the rounds in the office within hours. The problems with the process continued in that the person who worked for the Ethics Line never called at the scheduled time. My friend emailed back to see what the deal was, it took a week for someone to reply, and it turns out that the Ethics Line person quit!

So no- do not trust it.

I just read an article about the importance of a company guaranteeing the safety of their Ethics Line. It said it should provide the option to report anonymously. And “Offering multiple reporting avenues for your ethics hotline increases the chance that employees will actually use it. A dedicated phone line, webform, email or even paper forms give employees the choice of how to submit tips. Based on their location, age, position in the organization and an array of other factors, employees have different preferences for reporting methods. Covering all the options ensures you won’t miss a tip due to employee discomfort.”

Just putting a different side of a situation out there. I had a scandal related complaint against me. Even though the customer signed for and used the credit card, they called and said to the ethics line that they didn’t know I ordered them a credit card three years after having it.
I’m only saying this cause I’m my case it was B.S. and everyone knew it. So of coarse I didn’t get fired. So not every “Ethics Complaints” should end in termination.

@iyq+17pJI3XZ I’m everything you wish you could be. No one cares who you are.

OP-my boss 2 levels up knew I called the ethics line. How can that be? How confidential are those calls?

I would lean towards agreeing with some, if not much, of this post. If you’ve followed the story from day one and read all the various white papers, Wells Fargo only fired people involved when pressed hard by regulators and outside investigations. Stumpf went down praising Carrie Tolstedt. The BOD replaced Stumpf with Sloan. Could be wrong, but I’ve always gotten the impression that they all have too much dirt on each other.

I hope OP can find a way to blow the whistle. Personally, I would go back to the reporter who broke the story in the LA Times in 2013.

who are you, @rdv+17pJI3XZ

This has already been done several times.

Your so-called 'personal contacts' are ineffective.

Put your money where you mouth is OP. If true, both of my personal contacts below would love to hear from you.

mailto:Melinda.Barnes@occ.treas.gov

mailto:david.benoit@wsj.com

I agree 100% with what you said... and I know of several instances in HR of this happening. People who were promoted to sr. positions and are in these positions of decisions and are using those positions to retaliate against their 'enemies'. There are several data scandals that are 'hidden' or ignored. There are widespread blatant policy violations which occur and are glossed over and managers ordering their people to do the item which violates policies. There are policies which are unenforceable because they are so vague or so broad.

everything 'Wolves' said is the truth. SMH.