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Edit: This comment should have been attached to the parent comment. Sorry about that. I don't expect any internal changes at Wells Fargo, just commenting they a

Edit: This comment should have been attached to the parent comment. Sorry about that. I don't expect any internal changes at Wells Fargo, just commenting they are concerned about their image on this issue. Wells Fargo is certainly worried about how the revelation of all of these anti-customer actions might hurt their bottom line. Thus its "Re-Established" brand campaign[1]. Most companies just change their name when they want to "Re-Establish". I'm not sure it is such a good idea to spend a lot of money telling people that you were a bad actor and now, trust us, things are different. [1]https://www.businesswire.com/news/home/20180507005415/en/Wells-Fargo-Launches-%E2%80%98Re-Established%E2%80%99-New-Brand-Campaign https://www.businesswire.com/news/home/20180507005415/en/Wel...

dunpeal 8y ago
Don't confuse "public image management" with actual concern. They've been willfully misbehaving for decades, still do so today, and made a ton of money off it. Multiple generations of WF senior managers got nice bonuses from illegal / "mistaken" fees, "mistakes" in servicing mortgages, misleading their customers, etc. Seems like these kind of "mistakes" are thoroughly ingrained into their corporate culture by now. So they also threw some money into a campaign to improve their public image. Makes sense for them. They've also evidently continued their practice of making "mistakes" in their own favor.