And I wonder when the Wells Fargo former and current employees will sue the bank for OT (certainly they did OT) that they most likely weren’t paid for their time when they were pressured by upper management for sales goals to open fake accounts for customers who had know idea of these accounts.
The lawsuit (Polonsky v. Wells Fargo Bank & Co., BC634475, California Superior Court, Los Angeles County ) filed on Thursday, alleged that “Wells Fargo fired or demoted employees who failed to meet unrealistic quotas while at the same time providing promotions to employees who met these quotas by opening fraudulent accounts.”
The lawsuit on behalf of people who worked for Wells Fargo in California over the past 10 years, including current employees, focuses on those who followed the rules and were penalized for not meeting sales quotas. It accuses Wells Fargo of wrongful termination, unlawful business practices and failure to pay wages, overtime, and penalties under California law.
It also offers details of how low-level bankers were allegedly pushed to create at least 10 new accounts a day in a sales initiative that has blown up into a scandal and prompted U.S. lawmakers to call for Chief Executive Officer John Stumpf’s resignation. Bankers were “coached” to secretly open fee-generating accounts and often resorted to using false customer contact information like NoName@WellsFargo.comon accounts so they couldn’t be traced back, according to the complaint.
Former employees Alexander Polonsky and Brian Zaghi, who brought the lawsuit, allege Wells Fargo managers pressed workers to meet quotas of 10 accounts per day, required progress reports several times daily and reprimanded workers who fell short. Polonsky and Zaghi filed applications matching customer requests and were counseled, demoted and later terminated, the lawsuit said.