When Wells Fargo went through the "fake accounts" scandal, employees were the ones who paid the highest price. Not just those who participated directly. Just being associated with Wells Fargo was a problem and a liability on a resume. I pray that the same thing doesn't happen to us because there'll be a lot of people looking for new jobs soon and if the same stigma is applied to us, many will have to leave the industry to find new jobs.
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Yep. Shouldn't be ignored but is.
Yep, $37.5 million is not something that should be ignored.....
Probably will be a harder stain to get past in a downturn, particularly given the prior issues with the AML settlement from the 2017 agreement with the Fed and the OCC in which the same look the other way or made a decision not to know occurred and the similarities in this instance where warning signs were there but ignored, leadership silence on the topic tends to give the substance and recency more credibility unlike the contrite apology, particularly to shareholders, that accompanied the $613 million dollar settlement and deferred prosecution agreement, the leadership silence also indicates there are other issues, perhaps purely internal, involved, the topic isn't going away because leadership doesn't want to talk about it, it is really hard to spin fake accounts and unauthorized access to consumer credit reports.
Sadly, I'm afraid this is going to taint my own search.