Wells Fargo Fined 185 Million For Employees Creating Accounts To Boost Their Quotas
A sign is seen on a Wells Fargo ATM at one of their bank branches on Sept. 9, 2016 in Miami, Florida.  Joe Raedle/Getty Images

Class Action Suit Claims Wells Fargo Penalized Employees Who Followed the Rules

Sep 24, 2016

Two former Wells Fargo employees filed a class action lawsuit against the company on Thursday in California, arguing they were penalized for failing to meet sales quotas while following the rules and not engaging in fraud.

The suit is seeking $2.6 billion for current or former Wells Fargo employees in the state who were demoted, fired or forced to resign after not meeting what the lawsuit characterized as "unrealistic quotas," Reuters reported.

Wells Fargo agreed to pay $190 million in penalties and customer payouts this month after revelations that the bank created credit, savings and other accounts in customers' names without their knowledge.

The class-action lawsuit filed Thursday in California Superior Court argues that the company promoted employees who opened fraudulent accounts, while penalizing those who did not, according to Reuters.

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