Well. I drew cash at the fancy Wells Fargo Bank ATM from my account, in downtown San Francisco on Wednesday. Cool! I thought. I can get whatever I need: $1s, $5s, $20s and $100 bills. (When one travels, those $1s and $5s for tips or even small purchases are still very handy).
Then on Thursday, news broke of the massive fraud committed by Wells Fargo’s own employees over many years. ‘Our entire culture is centered on doing what is right for our customers’, says their tweeted apology. Oh really? Since 2011, Wells Fargo employees opened roughly 1.5 million fraudulent bank accounts (to earn more fees for the bank) and applied for 565,000 credit cards. 5,300 employees had been fired. How many executives? None.