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Wells Fargo Fined $22 Million for Alleged Whistleblower Retaliation

by Starling Insights

Starling Insights Editorial Board

Sep 08, 2022

Observations

USA Regulatory Trends Whistleblowing Speaking Up & Speaking Out Psychological Safety Culture & Consequences

Wells Fargo was recently fined $22 million by the US Department of Labor (DOL) for allegedly retaliating against a senior manager that had raised concerns about falsifying customer information, price-fixing, and interest-rate collusion.

The whistleblower raised these issues internally to managers and a corporate ethics line. In 2019, Wells Fargo fired the employee, initially offering no reason and then claiming the termination was part of a restructuring process.

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Wells Fargo Fined $22 Million for Alleged Whistleblower Retaliation

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