U.S. Labor Department Looking Into Potential Wells Fargo Employee Whistleblower Retaliation
Many former Wells Fargo employees are stepping forward and claiming they were terminated or otherwise retaliated against because they blew the whistle on the company’s alleged sales tactics. The U.S. Department of Labor has taken notice and has started an investigation into the company.
Fighting for What’s Right
Wells Fargo is under investigation due to revelations that employees created fake credit card and banking accounts in customers’ names in order to meet stringent sales quotas. Approximately 2 million bogus accounts were created, leading the company to fire more than 5,000 employees and pay a $190 million fine.
But apparently, not all of the fired employees were in on the scam. Many of them fought against it and say they paid the price as a result. One man told CNN he refused to create a fake bank account and later called Wells Fargo’s ethics line and sent an e-mail to the company’s human resources department. He said he was fired eight days later, and the reason given by the company was “tardiness.”
Whistleblower Protection Law
A law named the Sarbanes-Oxley Act, or SOX, was passed to help prevent corporate financial misconduct by, amongst other things, protecting whistleblowers from retaliation for complaining of corporate financial misconduct. Employees and former employees of Wells Fargo who were retaliated against for complaining of perceived financial misconduct, such as the opening of fake bank accounts, may be entitled to significant monetary compensation under SOX.
A Passion for Working on Behalf of Unfairly Treated Employees
Baron & Budd has a long history of representing employees who have been harassed, demoted or fired because they spoke up against corporate wrongdoing. We have no tolerance for companies that violate the rights of employees, whether in the areas of whistleblowing, overtime pay violations or anywhere else.