4 ms·
> ...we apparently have a do not hire list that goes across company lines for even positions like bank tellers? There was no visible public outrage against any
by yourapostasy 9y ago
> ...we apparently have a do not hire list that goes across company lines for even positions like bank tellers? There was no visible public outrage against any company that refused to hire former Wells Fargo employees for example
For bank tellers, I believe this is tracked via the federal agency FINRA, through AWC submittals. For the Wells Fargo employees, you likely are thinking of the brokers who were ordered by Wells Fargo management to fraudulently open accounts. Allegedly, many of these brokers then found out later after they were terminated from Wells Fargo that the bank marked their termination on a U5 form in a manner that all but ejects them from the financial services industry, forever [1]. In both of these cases, they are via mandatory regulatory notifications, and not like the Japanese cases discussed here where it sounds more informal.
[1] https://www.nytimes.com/2016/11/04/business/dealbook/wells-fargo-faces-scrutiny-for-black-marks-on-ex-employee-files.html https://www.nytimes.com/2016/11/04/business/dealbook/wells-f...
- ch4s3 9y agoFINRA is an industry group
- yourapostasy 9y agoThanks for the correction, it is a self-regulatory measure by the US financial services industry.
- walshemj 9y agoFinance is different get caught doing naughty things and you can be banned for life in the same way a Dr can be struck off
- _jal 9y ago... Unless you're C-level, in which case you merely lose your bonus at worst.
- sedachv 9y agoThe most famous financial criminal of the 1980s United States, Michael Milkin, is now a wealthy philanthropist living large in Los Angeles. The disincentive for large-scale financial crime in the United States is just not there.
- walshemj 9y agoI think he was before the finance industry put this in place
- TerminalJunkie 9y agoPlanet Money did a podcast on this very thing http://www.npr.org/sections/money/2016/10/28/499805238/episode-732-bad-form-wells-fargo http://www.npr.org/sections/money/2016/10/28/499805238/episo...