Big Banks Eye Potentially ‘Contagious’ Wells Fargo Union Push
From Bloomberg Law:
Wells Fargo & Co. has been at the center of some of the biggest banking scandals of the last decade, but it’s facing a new challenge within its labor force that is being watched across the financial services industry.
Workers at the country’s fourth-largest bank are pushing to unionize with the Communications Workers of America, a complicated process that began in November 2021 and that, if successful, could reshape working conditions at Wells Fargo and spark workers at other large US banks to push for collective bargaining.
“It’s not lost on anyone that if workers at Wells Fargo are successful, it’s going to inspire folks at other banks and financial institutions to see what’s possible at their own workplace,” said Nick Weiner, the senior campaign lead at the Committee for Better Banks, an advocacy group that is helping to guide the Wells Fargo union campaign.