Wells Fargo decided to get rid of their sales incentive for employees.Employees were provided bonuses for sales which led employees to commit fraud for the purpose of making more money. It was discovered that employees were signing up customers for services without their knowledge or permission. The bank employees created “fake accounts that customers did not want so that workers could earn bonuses” according to the Washington Post. As a result of the fraud Wells Fargo was fined $185 million and over 5,000 employees were fired. Wells Fargo wanted to ensure customers that they are on their side and so are their employees. For that reason they decided to get rid of the sales incentive starting January 1, 2017. In addition, Wells Fargo has decided to stop pushing so much for “cross selling”, which is when they encourage customers to own multiple types of accounts and services .
As for the ethical issues with what Wells Fargo employees were doing, they are endless. The extra accounts that/debit cards/credit cards the employees were signing up the customers for without their knowledge caused fees that added up to millions of dollars across the board. So not only were employees betraying customers’ trust, they were stealing from them for personal gain. However, I would like to relate this issue to integrity. Obviously none of these employees can be said to have integrity. But why? One reason is that they were doing something immoral that was agreed upon to be wrong as society as a whole. No reasonable person would say that diligently ripping people off can be seen as having integrity. Another reason is that given the chance to do the hard thing and not commit the fraud, based on the fact that at least 5,000 employees did it, the employees decided to to take the easy route. They didn’t have the moral integrity to stick to what was right and not commit the fraud. They chose themselves over the customers that trusted them. Finally, it could easily be assumed that if one was to ask the employees what someone should have done if they were in the position to commit fraud, the employees would say that the right thing to do is not commit the fraud (Obviously this can’t be stated for sure but it is definitely a possibility). However, when they were given the opportunity themselves, they went against what they would say anyone should do and committed the fraud.