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Foreign news: Wells Fargo class action launched

26 September 2016 1:21PM
The crisis at US bank Wells Fargo over the opening of millions of unauthorised accounts has deepened, with two former staff members launching a class action in California seeking US$2.6 billion on behalf of workers who did not cheat and were penalised for failing to meet sales quotas. Reuters reports that the claimants are seeking compensation for employees and former employees who were demoted, forced to resign or were sacked because they followed the rules and could not meet unrealistic quotas. Wells Fargo opened as many as two million accounts without the knowledge or permission of affected customers.

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