A Quote by Richard Shelby

Wells Fargo's internal review only covers unauthorized accounts dating back to 2011. News reports and court documents suggest these problems might have existed long before then. The 2013 'Los Angeles Times' articles led to the L.A. city attorney's office investigation into Wells Fargo's sales practices.

Richard Shelby

Quote Topics

Dating Accounts Angeles Articles Attorney Back Before City Court Covers Documents Existed Fargo Internal Investigation Led Long Los Los Angeles Might News Office Only Practices Problems Reports Review Sales Suggest Then Times Wells Wells Fargo

Quote Author

Richard Shelby
American - Politician
Born: May 6, 1934

A number of former Wells Fargo employees have described their work environment characterized by intense pressure to meet aggressive and unrealistic sales goals. In a 2010 letter to shareholders, Mr. Stumpf wrote that Wells Fargo's goal was eight products per customer because eight rhymed with great.

Richard Shelby

Credit card companies and banks usually aren't shy when they're trying to sell you something. Heck, Wells Fargo didn't even bother to ask consumers before signing them up for as many as two million checking and credit card accounts.

Dick Durbin

I've always felt there was something wrong with Wells Fargo's culture, for a very, very long time.

Steve Eisman

Everybody who was involved in that culture [Wells Fargo] should be held accountable.

John Kasich

Wells Fargo behaves better than the average big bank. But nobody's perfect.

Charlie Munger

The constant drip drop of fraudulent activities coming out of Wells Fargo is absolutely outrageous.

Maxine Waters

They made a mistake. And it was an easy mistake to make. I don't regard setting incentives aggressively as a mistake. I think the mistake was, when the bad news came, they didn't recognize it directly. I don't think that impairs the future of Wells Fargo. They'll be better for it.

Charlie Munger

Let it Flow is a water charity that my mom and I started back in 2011. We focus mostly on building and the majority of the time, repairing wells because of the insane amount of the number of wells out there in the world just need to be repaired by simple parts.

Nyjah Huston

They have a new CEO in Wells Fargo . I don't know much about him. The lady who was involved to some degree in the shenanigans along with the CEO are gone. So I need to see where things stand before we go any farther at this point.

John Kasich

I don't know the extent to which they do business [ in Wells Fargo]. I just want to see how this thing continues to unfold and if they have a legitimately major change in their culture.

John Kasich

I was involved with Wells Fargo Bank as a consultant in the late 1960s and early 1970s, when I suggested to them that they develop a product that has become known as index funds.

Myron Scholes

Wells Fargo had a glitch - the truth of the matter is they made a business judgement that was wrong. I don't think anything is fundamentally wrong.

Charlie Munger

It's an individual morality in values that matters in these companies [like Wells Fargo]. I mean, they ought to clean house. And they ought to figure out how to claw back all this money. That is a given. In terms of additional laws, there are reasonable approaches to this, but I'd have to see what they are. I'm not a federal lawmaker.

John Kasich

It's an unwritten rule that when you move to California and you're an English person, you have to drive a convertible, and you have to bank with Wells Fargo because they have a stage coach on their bank card.

Paul W. S. Anderson

I learn from all our major competitors, whether they're in or out of the U.S. Wells Fargo is very actively, very aggressively, and very successfully building its U.S. investment bank.