Wells Fargo seeks to shore up reputation in wake of scandal

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.

Wells Fargo has been hit hard by allegations that its staff opened more than 2 million bank accounts and credit cards for customers without their consent in a bid to meet internal sales goals.