Wells Fargo Account Scandal: Who Knew What, When?

The transcript discusses the accountability issues at Wells Fargo, focusing on the knowledge and actions of executives regarding the creation of fake accounts. It highlights the management hierarchy and the disparity in accountability between top executives and lower-level employees. The investigation into these issues is ongoing, with some management members identified for potential firing.

What was the main concern regarding the executives at Wells Fargo?

• They ignored warnings about suspicious activities.

• They actively encouraged fraudulent practices.

• They were directly involved in creating fake accounts.

• They were unaware of any issues.

How many regional bank executives are mentioned in the hierarchy of Wells Fargo's retail bank?

• Three

• Fifty-four

• One hundred and twenty

• Twelve

What was the significant action taken against lower-level employees at Wells Fargo?

• They were transferred.

• They were promoted.

• They were given bonuses.

• They were fired.

What is the current status of the investigation into Wells Fargo's management?

• All managers have been cleared of wrongdoing.

• Some managers have been identified for potential firing.

• It has concluded with no findings.

• The investigation has been canceled.

Why are decisions regarding the firing of certain managers pending?

• They have resigned voluntarily.

• They have already been fired.

• They are waiting for the board's investigation to conclude.

• There is no evidence against them.