The Cutting Edge of Performance?: A Look at Wells Fargo

Introduction

With 1.5 million unauthorized deposit accounts, 500,000 unauthorized credit card applications, and $185 million in fines to federal regulators, the 165-year-old American bank and financial services holding company Wells Fargo came into the limelight for all the wrong reasons (Forbes, 2017). Over a period of five years, 5,300 Wells Fargo employees were fired for allegedly creating bogus accounts.