Wells Fargo Chief Executive Must Step Down

Target: Tim Sloan, Chief Executive of Wells Fargo Bank

Goal: Turn leadership of Wells Fargo over to someone who will institute real reforms after the creation of millions of fake accounts.

Wells Fargo Bank continues to have serious problems that put their customers at risk, and Washington Senators are calling for the boss of Wells Fargo to be fired and for board members to be replaced. The bank’s chief executive, Tim Sloan, was appointed after the scandal in which Wells Fargo used thousands of fake accounts in order to boost sales figures. The bank paid millions of dollars in fines and a class-action lawsuit settlement, and Mr. Sloan made a statement that the company has “made fundamental changes to the way we do business.”

However, it has come to light that many more accounts were created without customers’ knowledge or consent, over a much longer period of time than was previously acknowledged — as many as 3.5 million accounts over eight years. And the bank is still forcing people to pursue claims outside of court among other concerning practices. Additionally, the bank has admitted to problems with its online payment system, and to wrongly imposing charges for car insurance onto its customers. All of this indicates, as Senator Elizabeth Warren said regarding Mr. Sloan, “Wells Fargo is not going to change with you in charge.” Sign below to demand that changes be made at Wells Fargo, starting with the resignation of its chief executive.

PETITION LETTER:

Dear Chief Executive Sloan,

The manner in which Wells Fargo conducts business continues to be unacceptable. The revelation that even more false accounts, created over a longer period of time than was previously addressed, indicate that the company still cannot be trusted to do what is best for its customers, and that not nearly enough changes are being made.

Additional problems with the online payment system, wrongful car insurance charges, and practices like forcing customers to pursue claims outside of court are evidence that the bank needs a complete overhaul in order to fulfill its responsibilities to its customers. The only way to ensure the quality of service and protection of privacy and investments that Wells Fargo’s customers deserve is for you to resign as chief executive.

Sincerely,

[Your Name Here]

Photo Credit: Taber Andrew Bain

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3 Comments

  1. You screwed you customers, and now it’s time to step down from the position of CEO of Wells Fargo!

  2. Robert Ortiz says:

    He has not done anything meaningful or worthwhile during his tenure and Wells Fargo has only gotten worse and enegaged in more unethical and illegal activities. So what’s the point of collecting a large salary and dong nothing but screw up?

  3. Gen Lovyet Agustsson says:

    arrest the bankers now!

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