Wells Fargo Under Federal Investigation Over Its Hiring Procedures

28

Across the country, millions of Americans rely on banks for one reason or another. Most people keep their money in banks, whether in personal, business, savings, or other accounts.

Banks are generally regarded as safe and secure places for people to keep track of their finances. Some accounts even allow for interest to accumulate on funds that are left in banks over extended periods of time.

SPECIAL: Get Your FREE Red Trump 2024 Hat Here

Of course, banks today wouldn’t be what they are without the people working for them. This is what makes the importance of onboarding and hiring procedures so great.

Unfortunately, Wells Fargo, one of the country’s top banks, is being federally investigated over its practices surrounding hiring, per ABC News.

A Deeper Dive Into the Probe

The federal investigation into Wells Fargo comes after multiple reports from current and former staffers.

These reports allege that staffers were told to give interviews to female prospects and people of color; yet, the jobs these folks would be interviewing for were jobs that’d already been taken.

Apparently, the entire drive behind these alleged hiring procedures was to meet a diversity quota, despite the company having zero intention of actually hiring these folks.

At least one employee who spoke out about these reported hiring practices taking place at Wells Fargo has since been removed from the company altogether.


Response From Wells Fargo

While the bank hasn’t specifically commented about the federal investigation it’s currently facing, Wells Fargo has spoken about its hiring procedures.

According to the bank, its “diversity slate” is designed to boost overall representation throughout the business.

In pointing this out, Wells Fargo was also certain to mention that no one should be put through the interview process without a legitimate shot at being hired for a job.

On top of this, Wells Fargo said it was putting its “diversity slate” on ice in order to review appropriate hiring guidelines and ensure they’re being lived up to accordingly.

Needless to say, the pause of Wells Fargo’s “diversity slate” appears to go hand in hand with the federal investigation the company currently faces.

With that being said, there’s a real possibility that Wells Fargo has been advised not to comment on the investigation for legal reasons.

Either way, many Americans are left wondering the true nature of Wells Fargo’s hiring procedures and what this investigation will ultimately bring to light.

What are your thoughts about the current federal probe into Wells Fargo and its hiring procedures? Do you believe the company is guilty of interviewing certain candidates for jobs that weren’t actually available?

In the comments area down below, you are more than welcome to share your thoughts about Wells Fargo and the latest developments surrounding the company.