To: Carrie Tolstedt, Head of Community Banking at Wells Fargo

Wells Fargo: End the Obsession with Sales Goals

Wells Fargo has announced it's eliminating product sales goals. Read more, here: http://www.wsj.com/articles/wells-fargo-cuts-all-sales-goals-as-it-seeks-to-rebuild-trust-1473766077

End the excessive sales targets for Wells Fargo team members.

Why is this important?

The LA Times recently reported that roughly 30 Wells Fargo branch employees in the L.A. area tried to meet sales goals by opening accounts that were never used.

Lying and cheating should never be tolerated in the workplace -- especially at a financial institution. But the situation also suggests that Wells Fargo take stock of its community banking program and the sales goals employees are pressured to meet each week.

According to the Times, the pressure to meet sales goals can be intense. Managers have required sales agents to stay late and call their friends and family members to open accounts in order to meet sales objectives.

Sales at all costs is no way to build trust with our communities. Everyone has unique banking needs, and Wells Fargo employees pride themselves on being able to deliver quality products to individuals and community businesses. But when aggressive sales goals compete with customers' needs, one side always wins. We're calling on Wells Fargo to immediately review its community banking program and lower excessive sales targets for team members.

Photo credit: http://bit.ly/16vf2lK

How it will be delivered

We are delivering this petition to Wells Fargo leaders on April 13th, our National Day of Action for Bank Workers.

Partner

The Committee for Better Banks

Links

Campaign Facebook Page

Updates

2016-10-26 13:30:20 -0400

Petition is successful with 11,712 signatures

2016-09-13 12:24:14 -0400

Petition is successful with 11,677 signatures

2016-09-08 15:06:16 -0400

Petition is successful with 11,673 signatures

2015-04-22 21:06:05 -0400

After we hand-delivered your signatures to the bank, Wells Fargo CFO John Shrewsberry responded to our concerns in an interview with Reuters: http://www.reuters.com/article/2015/04/14/us-wells-far-crosssell-idUSKBN0N51X720150414

2015-04-13 20:40:17 -0400

Check out coverage of our petition in the Guardian! http://www.theguardian.com/business/2015/apr/12/well-fargo-workers-protest-sales-quotas

2015-03-27 22:37:53 -0400

10,000 signatures reached

2014-04-30 04:34:51 -0400

5,000 signatures reached

2014-04-22 21:36:10 -0400

A former Wells Fargo teller will be delivering petitions in-person to bank managers later this week. Stay tuned!

2014-03-31 10:40:35 -0400

Sales Goals at Wells Fargo continue to make headlines, check out this piece in Consumerist that includes interviews from former Wells Fargo employees : http://consumerist.com/2013/12/23/wells-fargo-employees-say-threat-of-being-fired-leads-to-bad-behavior/

"To some, that pressure and the dread of losing their jobs led them to make bad, and sometimes illegal decisions. In addition to opening up duplicate accounts, one of the 30 Wells employees dismissed in October tells the Times that people at the bank used a company database to identify customers to pre-order credit cards for customers who had been pre-approved.

“They’d just tell the customers: ‘You’re getting a credit card,’” explains the former employee, who said that when customers would complain about the unasked-for cards, a manager would just chalk it up to a computer glitch. "

2014-01-06 16:12:28 -0500

The LA Times published a follow-up piece, "Wells Fargo's pressure-cooker sales culture comes at a cost." The story includes several interviews with Wells employees. Read it here: http://www.latimes.com/business/la-fi-wells-fargo-sale-pressure-20131222,0,2502059,full.story#axzz2pef4695j

2013-10-15 00:17:56 -0400

1,000 signatures reached

2013-10-12 22:39:53 -0400

500 signatures reached

2013-10-10 20:50:59 -0400

100 signatures reached

2013-10-10 17:40:43 -0400

50 signatures reached

2013-10-10 16:39:52 -0400

25 signatures reached