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TRENDING TAGS
Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Wells Fargo Hikes Wages for Branch Workers
“What’s [still] needed is a press release [announcing] the thousands of folks rehired who were unfairly dumped.”
Wells Fargo is rolling out a new compensation policy, boosting the base pay for branch workers, its lowest-paid employees. Bonuses will be based on team performance.
“Removing the quota, already promised, is a welcome step,” Bart Naylor, financial policy advocate at Public Citizen, told The NYPost. “What’s needed is a press release [announcing] the thousands of folks rehired who were unfairly dumped.” Naylor is referring, in part, to the 5,300 workers Wells fired for violating its internal rules by playing a role in opening the 2 million fake accounts and credit cards. Ex-workers say additional employees left on their own to avoid a toxic culture.
Separately, on Wednesday, Democratic U.S. senators once again pressed Wells for more details on the connection, if any, between its overdraft charges and the scandal.