Guests: Michael Corkery, Lynne Andersson
The recent behavior at Wells Fargo Bank has again brought into question the ethics of big banks. The company put pressure on low level staff to meet sales quotas which resulted in the creation of thousands of fake accounts being created in customers’ names. Their CEO was fined more than $40 million and was asked to answer to a congressional committee on Thursday. Today on the show, we’ll discuss just what happened at Wells Fargo, what the repercussions will be for their actions, and the ethics of big banking. We’ll be joined by MICHAEL CORKERY, financial reporter for The New York Times and by LYNNE ANDERSSON, professor of human resources at Temple University who specializes in corruption and corporate culture.