Getting rid of the CEO of Wells Fargo was just one of many necessary moves to not only save face but to also save an industry that has been abusing customers for some time. The Firing of many other high level regional presidents has just taken place. These were the fools that were pushing for the fraudulent numbers and in return they received huge incentives and bonus's while the individual in the local bank received nothing. I don't care what procedures and processes you say are in place. The culture and environment within this company has to change from ego driven elitists to a institution that actually serves customers and see's to their ongoing satisfaction without ripping them off.
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much like a sunken ship you can expect everyone (senior management, directors, team members) to go into survival mode. lots of busy body work will be created as everyone tryes to justify why they shouldnt be fired. as mroe people worry about keepin there jobs instead of doing them, more mistakes will happen and more customers will be screwed. wells fargo business will get worse and worse in a downward cycle until theres nothin left
The culture is certainly from the top down and most people in charge are driven by greed for a bigger bonus or a self-important title. At this stage it's scary because all financial products at WF are under scrutiny by regulators that are opening every closet to find the skeletons.