Blowing the Whistle

February 14th, 2017

When it was revealed last year that thousands of Wells Fargo employees had opened millions of unauthorized accounts for customers in order to meet aggressive sales targets, the scope of the scandal disguised a troubling trend: Whistleblower claims are on the rise, and although companies fail at this all the time, there are ways to protect your bank from retaliation claims.

“I’ve seen many instances where something bad happens at an institution with an otherwise sterling reputation for doing the right thing. Something is uncovered at the institution. And then we see the follow-on claims of whistleblower retaliation,” says Kenneth Gage, a partner in the employment law practice of Paul Hastings and chair of its workplace retaliation and whistleblower defense practice.

Since the Consumer Financial Protection Bureau and other regulators settled with Wells Fargo for $185 million last September, the media has been awash with reports about... To read this article in its entirety and get the full interactive experience of the digital magazine, download the app today!

John Maxfield is a writer and contributor to Bank Director.