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US Senator Expresses Concerns About Wells Fargo

US Senator Expresses Concerns About Wells Fargo

by Starling Insights

Starling Insights Editorial Board

Oct 17, 2023


In a letter to Acting Comptroller of the Currency Michael Hsu and Federal Reserve Vice Chair Michael Barr, US Senator Sherrod Brown, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, expressed concerns about unfair labor practices at Wells Fargo.

The Senator cited several instances where employees at various Wells Fargo branches filed Unfair Labor Practice charges with the National Labor Relations Board over the past year, and noted that those who attempted to report labor abuses reportedly faced retaliation from the bank. “Wells Fargo's actions towards its employees demonstrate not only a disregard for their workers, but also for corporate governance and risk management,” Brown wrote.

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