Wells Fargo Workers Respond to Bank’s Billion Dollar Settlement with Shareholders, Demand Accountability for Workers

NATIONWIDE (May 17, 2023) – In response to Wells Fargo’s $1 billion settlement with shareholders following a class-action lawsuit accusing the bank of overstating its progress in remedying the 2016 fake account scandal, Wells Fargo workers with Committee for Better Banks’ Wells Fargo Workers United issued the following statement:

Wells Fargo management has now settled with shareholders and consumers over its abuses and misconduct, but there is still a key stakeholder group left out in the cold: the tens of thousands of Wells Fargo workers who suffered through unbearable working conditions during the fake account scandal and those who were fired after being forced to comply with the bank’s malpractice.

Wells Fargo workers were the ones to sound the alarm in 2016, yet seven years later, we continue to deal with the same unclear policies and procedures, inadequate controls, high stress and unattainable metrics, not to mention our severe understaffing, low pay and fear of retaliation. These conditions hurt us and our customers, and reinforce the toxic workplace culture that exists at Wells Fargo. That's why Wells Fargo workers across the country are organizing a union, to secure a voice on the job and improve working conditions that will benefit everyone, from bank workers to shareholders.