Wells Fargo Bank can’t escape a cycle of bad news. It was hit again by regulators for discriminatory community lending. The bank’s reputation had already taken a blow for its mortgage lending practices and for unauthorized customer account origination. One wonders how many more strikes against it the bank can endure. It is hard to believe Wells Fargo is so badly run. It sailed through 2008 when other large lenders were humbled. It was looked upon as a conservative and savvy institution. Then bad news began slamming the bank and it hasn’t ceased. One wonders what the morale of its employees must be. The familiar red stage coach and horses of its brand have become a mockery. Wells Fargo executives have a tall order to turn the bank’s reputation around. It will take years, but it can be done, and it needs to start with better controls.
Marston Strategic Communications
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