Thread regarding Wells Fargo & Co. layoffs

Ethicsline

Has anyone called the new ethicsline to report any abuses? I'm asking because I have suspected WF management monitors this stuff and nothing is really anonymous. If you called, did you remain anonymous or were you fired for some bogus reason?

I've seen some recent articles about people that called but the stories didn't seem to be anything big like the sales scandal. Would like to here any perspectives on the ethicsline. Would you call the ethicsline?

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NEVER! And don't call EAR either. Just get ready to leave. After many years of personal mistreatment and witnessing incorrect charges passing to business accounts, I quit. The most unethical employer I ever had.

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Whistle blower hotline is used as a honey trap - They will eventually fire you through review process. Gather your information and save it for your lawyer in the future. Everyone gets fired from the banks. Look around and see age head count. Not too many elders, gray hairs?? bell curve for age and s-x hiring and firing discrimination at work. You will eventually use your info.

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You should call the ethics hotline and impersonate Tim Sloan or one of the executives when reporting misconduct.

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I would never call the ethics line from any phone that could be traced back to me nor would I tell anyone that I was going to call the ethics line.

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You take it to a large newspaper AND the FBI.

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You never call the ethics hotline but take your data to a large newspaper or the FBI.

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I have had a situation with the ethics line and spoke to the senior manager as well as the senior leader over my group. I'm still here but I did not like my answer that was given which was still wrong according to what is right. So, not all get bounced out of the company. However, I will say that I am very hesitant about reporting anything and more so now that I have.

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Basically, there are more whistleblowers suing because they were fired for reporting misconduct. Yes, the whistleblower hotline is used as a honeytrap for identifying those that report misconduct, so they can be fired to hide the misconduct and protect the company.

credit:

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More former Wells Fargo employees allege they were fired after they tried to blow the whistle on shady activity at the bank.

That's according to a new filing by Wells Fargo (WFC), which disclosed claims of "retaliation" by ex-employees.

Wells Fargo has been at the center of a number of scandals over the past year. This filing addresses two in particular -- when the bank forced thousands of customers into car insurance they didn't need, and when it wrongly charged homebuyers to lock in mortgage rates.

Wells Fargo said on Friday that one former employee "has alleged retaliation for raising concerns regarding automobile lending practices."

The bank declined to give further information about this specific claim.

The same Wells Fargo filing said several other former mortgage employees claim "they were terminated for raising concerns" about the improper mortgage rate fees. The bank didn't specify how many workers made these claims, but indicated that there is least one lawsuit pertaining to these issues.

One suit was filed in July by former Wells Fargo mortgage consultant Mauricio Alaniz, and was previously reported by USA Today and the LA Times.

In a statement, Wells Fargo said "we deny Mr. Alaniz's claims regarding the reasons for his termination." The bank declined to comment further due to the ongoing litigation.

The Labor Department, which investigates retaliation matters, said in a statement that it "does not acknowledge or deny the existence of a complaint."

Ex-employees shared similar claims of retaliation last fall with CNNMoney regarding the bank's infamous fake account scandal. At that time, several former employees said they were fired after reporting wrongdoing to the bank's ethics hotline.

Taken together, the allegations speak to a common thread at Wells Fargo where scandals are often accompanied by worker retaliation claims.

Indeed, Wells Fargo said in the filing that it faces a "range of employment litigation," including pending class action lawsuits brought by former employees "who allege that they protested sales practice misconduct." The bank said it also faces multiple complaints and state law whistleblower actions filed with the Labor Department alleging retaliation.

Earlier this year, Wells Fargo was ordered by the Labor Department to pay $5.4 million and rehire a whistleblower who was fired after calling the ethics hotline to report suspected fraud.

Tim Sloan, who was promoted to CEO to clean up Wells Fargo's mess, has insisted employees won't face retribution for flagging unethical behavior.

"It is safe to call the ethics line," Sloan told CNN's Poppy Harlow in April. He added that "one instance of retaliation" is "completely unacceptable."

Wells Fargo's filing Friday also indicates that its auto insurance woes might be worse than previously disclosed.

In July, Wells Fargo apologized for charging as many as 570,000 customers since 2012 for car insurance they didn't need. An internal review by the bank found that about 20,000 of those customers may had their cars repossessed in part due to this forced insurance.

Unlike most big banks, Wells Fargo's auto loan contracts allowed the lender to obtain collateral protection insurance on a customer's behalf if they fail to buy liability coverage themselves. Wells Fargo conceded that it bought insurance for some customers -- and charged them for it -- even when they had their own.

Wells Fargo said on Friday it will now accept refund requests for this matter dating back to October 15, 2005. The bank also raised its estimate for the cost of the auto insurance scandal to $130 million, up from $80 million previously.

A spokesman for Wells Fargo said the expanded refund reflects the bank's desire to "make things right for our customers."

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I personally think the Ethics Line serves two purposes.

  1. Make people think they are doing something and that they value their employees.

  2. Smoke out whistle blowers so they can monitor them and terminate them at the first opportunity for the smallest of infractions.

... but that's just my opinion.

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