Bad news for Wells Fargo…
Wells Fargo has lost its accreditation with the Better Business Bureau, another setback for the San Francisco company as it grapples with fallout from a sales scandal.
The Arlington, Va.-based organization stripped the accreditation following Wells’settlement last month with regulators who accused the bank of opening millions of accounts that customers may not have authorized. The government action pushed Wells Fargo below the “B” rating required for businesses to maintain accreditation.
In a statement, Wells Fargo said it will “continue to work hard to restore our customers’ trust” and is “focused on providing the best service to our customers.” The bank said its No. 1 priority is making things right with its customers and restoring public trust, pointing to steps it is taking to ensure its sales culture is “100 percent aligned with our customers’ interests.”