Hard Sell, Hard Fall: The Wells Fargo Phony Accounts Debacle

Risk management, internal control

Video

Hard Sell, Hard Fall: The Wells Fargo Phony Accounts Debacle

Speaker: E. Scott Reckard

  • Format

    Video

  • Level

    Intermediate

  • Duration

    75 min

Get the inside story of how the Los Angeles Times brought to light the unrelenting sales pressure that led Wells Fargo bankers to open millions of unwanted bank and credit card accounts, resulting in hundreds of millions of dollars in fines and settlements and the exit in disgrace of the bank’s long-time chairman and chief executive.

Learning outcomes

  • Recognise the steps that led to the Wells Fargo fraud

£35.00 (CIMA members only)

£45.00

VAT calculated on checkout

Product information

Overview

The inside story of how the Los Angeles Times brought to light the unrelenting sales pressure that led Wells Fargo bankers to open millions of unwanted bank and credit card accounts, resulting in hundreds of millions of dollars in fines and settlements and the exit in disgrace of the bank’s long-time chairman and chief executive.

The reporter who uncovered the fraud, Scott Reckard, will describe how earlier examinations of subprime mortgage lenders and Wells Fargo’s sales culture laid the groundwork for his three-month investigation, and examine how the scandal fits in with the larger ethical crisis in financial services.

Topics discussed:

  • How previous stories exposing subprime mortgage fraud and examining intense sales pressure at Wells Fargo branches provided the red flags that led to a major Times investigation
  • How a sales metric first became a marketing mantra, then an obsession

Who should take this course?

  • Forensic accounting and business valuation services professionals
  • Litigation services consultants and experts
  • Emerging FVS professionals
  • CFOs
  • Controllers
  • Senior financial professionals

Professional development

All learning resources available in the CGMA Store qualify for CPD for CIMA members.

Prerequisites:None
Programme level:Intermediate
Duration:75 min
Format:Video
Access:This is a digital product. You will have access to the content for a year after purchase date.

Return and refund policy

£35.00 (CIMA members only)

£45.00

VAT calculated on checkout

Speaker

  • E. Scott Reckard

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