In: Economics
What Advice would you give to the New CEO for Wells Fargo to fix the previous fraudulant charges?
The advice given to the new CEO for Wells Fargo to fix the
previous fraudulent charges can be explained as follows.
Wells Fargo is an American financial services company operated in
many nations and this company is based on USA.
Some famous frauds and conspiracy related to Wells Fargo are.
Lawsuit regarding excessive overdraft fees it means it was charged
by excessive fees on overdraft facility so my suggestion for the
new CEO is to reduce the overdraft and other charges in the bank so
that it increases the conveniency of the customers.
Lawsuit due to premium inflation on forced place insurance it means
they are charging high rate of premium and the in force to take the
insurance policies to maximise the benefits but my suggestion for
the new CEO is to reduce the premium rate and to provide the
flexibility to the customer so that it can be convenient to to the
policies and work according to their plans.
There’s one thing related to fraudulent activities and charges that
is failure to monitor suspected money laundering so my suggestion
is to monitor it properly for better efficiency.