The fresh board’s report are a necessary study of what ran incorrect within our society, procedures, and you will governance
— Wells Fargo launches the fresh results from an investigation towards organizations retail conversion practices supervised by an alternate committee of your own bank’s separate administrators and you will aided by lawyer Shearman Sterling.
It’s obvious regarding the board’s remark that individuals had a reward system and high-stress conversion society in our Society Financial that more than go out drove decisions you to definitely sometimes was incorrect and contradictory with this thinking. Due to the decentralized functioning design, the business management got a long time to know brand new seriousness and you can extent of one’s state, and for that reason, those things i annexed the age to handle it just weren’t enough. Continue Reading