Magazine : Archives : 2nd Quarter 2020

Point of View

The Destruction of a Proud Bank Brand The greatest despoilment of a bank brand that I’ve ever witnessed is what has happened at Wells Fargo & Co. since 2016, when federal regulators blew the whistle on fraudulent sales practices that had been widespread throughout the company for well over a decade.  The latest twist in this real life soap opera was the surprise resignation in early March of Board Chair Elizabeth Duke, a former Federal Reserve Board governor, following a harshly critical report by the House Committee on Financial Services, and just days before she was scheduled to testify at...