The Age of Fraud
TED Radio Hour
00:00
Wells Fargo's Culture of Unethical Behavior
Wells Fargo had a culture of just unethical behavior. What they were telling people and instructing people to do was to open accounts in the names of customers so that Wells Fargo could recoup the fees. The bank was using a process called pinning where they would set a pin to four zerosSo this allowed the bank to receive fees on these open credit cards. That allowed them to secure a lot of fees.
Transcript
Play full episode
