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Wells Fargo seeks to shore up reputation in wake of scandal

It scraps product sales goals for retail bankers and may take further disciplinary action against its employees

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The bank is still re-examining its practices amid the gathering public storm over the sales scandal, even after already having fired more than 2 per cent of its staff for the improper selling, says its CFO.

Washington

WELLS Fargo & Co scrapped its product sales goals for retail bankers on Tuesday and may take further disciplinary action against its employees in the wake of a fake account scandal that has already led to US$190 million in fines and the firing of 5,300 employees.