Wells Fargo Woes

We saw Wells Fargo in the news last week, yesterday and the CEO in front of congress today. 

I worked at Wells Fargo for 7 years and really liked it…because it was a competitive environment which suited me. 

I loved that the CEO mentioned at the end of a recent article “ This is not a culture problem or a bank problem, it is a bad employee problem.”  From someone that worked at Wells- I can tell you it is a culture problem.  People don’t come into that environment just wanting to sell 7 products to every client that walks in the door- that is taught, followed up on and rewarded heavily.  

I liked working at Wells Fargo because I was really good at originating mortgages and got lots of accolades with bonus income.  Ironically my decision to leave came back in 2006 when I was pregnant with my 2nd baby and already had a 16 month old at home.  I knew that if my sales dropped or I couldn’t work the 60 plus hours per week to stay at the top- I didn’t want to be there.  If I was not on top- Wells was a tough place to work.  I think it is really interesting that 10 years later the same practices that made me leave are still happening.  

I always find it funny when clients say that they want to have their mortgage with Wells because it is their bank and they trust them…really? Fine after fine and article after article should make folks think twice… I know I am.

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