Wells Fargo Turns Well-Intentioned Diversity Push Into Criminal Matter

Home
Banks

Wells Fargo Turns Well-Intentioned Diversity Push Into Criminal MatterAs you’d expect from the flaming stagecoach.

Author:Jon Shazar
Publish date:Jun 10, 2022

As you’d expect from the flaming stagecoach.

To a large extent, it seems, Wells Fargo had already fixed its whole alleged “interview a Black guy for a job he has no chance at getting” problem even before CEO Charlie Scharf put it on ice temporarily. Back in February, it decided to try doing away with the whole “posting a job and interviewing a diverse slate of candidates for positions you’ve already decided to promote someone internally for,” which will undoubtedly go a long way (although not all of the way) to saving applicants and managers the hassle (and, in the former case, false hope) that comes with the fake interview scheme (although it doesn’t seem to get any closer to what the Wells Rooney Rule was designed to achieve, which is a more diverse workforce).

Alas, this very un-Wellsian quick and simple fix came too late for the bank.

Federal prosecutors in New York have opened a criminal investigation into whether Wells Fargo violated federal laws by conducting sham interviews of minority and female job candidates…. The civil rights unit handling the Wells Fargo inquiry was created in November by Damian Williams, the U.S. attorney for the Southern District of New York.

Under federal law, for instance, it is a crime to interfere with “an applicant for private employment” in a way motivated by the applicant’s “race, color, religion or national origin.”

Of course, as ever, this is all the employees’ fault for not calling the “please fire me” whistleblower line.

In an interview on Monday, Bei Ling, Wells Fargo’s head of human resources, said she did not believe the fake interview practice was “a systematic issue.” Employees had not complained about it, she said.

“During these past eight months I can tell you I have never heard such a thing from the recruiting community,” Ms. Ling said. “I have never even heard the words ‘fake interview.’”

She added that there was no way for the bank to understand the scope of the problem unless employees spoke up. “We can’t act on things that we don’t know,” she said.

That attitude will no doubt do wonders during the anti-union drive to come.

Federal Prosecutors Open Criminal Inquiry of Wells Fargo’s Hiring Practices [NYT]

For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.

Tagsterms:BanksWells FargolawJustice DepartmentcrimehiringDamian WilliamsRacial DiscriminationBy Jon Shazar

BanksWells Fargo Takes Page From NFL’s Diversity Playbook, Gets Same Result

And now, like the NFL, it’s getting sued over it.

BanksLying To, Overcharging Customers Sure Seems Like Wells Fargo’s Primary Strategy

Whether you’re a simple homeowner or a sophisticated investment banking client, it’s just the way Wells does business.

BanksBlack Mortgage Applicants Do About As Well As Black Job Applicants At Wells Fargo

They’re apparently not as “qualified” as their white co-applicants, either.

BanksWells Fargo May Finally Get To Spend That Rainy Day Fund

All at once. In the form of some very large checks to the Justice Department and SEC.

BanksBanks Not To Blame For Bogus Bank Transfers On Bank-Owned Platform, Banks Say

That is, until they get a call from the Gray Lady.

BanksWells Fargo May Deprive Investors Of Its Peerless Service And Customer Care

But not before drawing one last racial discrimination lawsuit therefrom.

BanksWells Fargo Calls Time Out On Its Rooney Rule

After imposing a few more modest hurdles for its employees the clear in cheating, the diversity interviewing policy shall return.

BanksWells Fargo Employees Still Know How To (Fraudulently) Gussy Up An Application

And like some of their bad apple brethren are thusly former Wells Fargo employees now.

Introducing Jobbguru: Your Gateway to Career Success

The ultimate job platform is designed to connect job seekers with their dream career opportunities. Whether you're a recent graduate, a seasoned professional, or someone seeking a career change, Jobbguru provides you with the tools and resources to navigate the job market with ease.

Take the next step in your career with Jobbguru:

Don't let the perfect job opportunity pass you by. Join Jobbguru today and unlock a world of career possibilities. Start your journey towards professional success and discover your dream job with Jobbguru.

Originally posted on: https://dealbreaker.com/2022/06/wells-hiring-under-federal-investigation

Wells Fargo Turns Well-Intentioned Diversity Push Into Criminal Matter

Share

Categories

Share