Wells Fargo accused of sham job interviews for diversity hiring, facing lawsuit

From Yahoo Finance: 2024-07-29 15:00:38

A U.S. judge ordered Wells Fargo to face a lawsuit accusing the bank of defrauding shareholders by falsely claiming commitment to diversity hiring. The judge found evidence that the bank conducted sham job interviews for non-white and female applicants it had no intention of hiring. Shareholders alleged that statements promoting diversity hiring were deceptive, citing former employees and an internal whistleblower email. Wells Fargo denied the allegations and stated it would vigorously defend against the lawsuit. The bank previously faced criticism and remains under a Federal Reserve cap on asset growth. The case is ongoing in a U.S. District Court.



Read more at Yahoo Finance: Wells Fargo must face lawsuit over sham job interviews