Last year at the beginning of September, Wells Fargo, one of the finest banks of the US got its reputation plummeted. It was revealed to have opened an enormous number of potentially unauthorised retail deposit, current (checking) and credit-card accounts.
As I read reports it said it was Wells’ CEO mantra to employees: ‘eight is great’, meaning get eight Wells Fargo products into the hands of each customer. But this directive proved burdensome for banks employees as they struggled to meet demanding quotas and satisfy even more demanding managers.
