Wells Fargo’s new CEO still saying “there’s nothing wrong with cross-selling,” also lied about credit card sales rising when they’re falling

“Stephen Alpher” over at Seeking Alpha published a quick write-up of the new Wells CEO’s activity this morning and it’s not very assuring.

[Link to speech, here.]

“Speaking at the Goldman financial services conference, new Wells Fargo CEO Tim Sloan says “there’s nothing wrong with cross-selling,” and sees “risk” from changing employee incentives at the retail level,” Alpher writes.

So, did the new CEO of Wells just prove he learned nothing from previous CEO’s ouster?

Here’s proof in 3 points, going by the Seeking Alpha post:

1. Says he opposes changing sales incentives. (CFPB warns banks not to do this.)
2. Not concerned with accounts-scandal fines. (Depsite OCC sanctions for this.)
3. Numbers don’t add up. Says credit cards are up when actually down at the bank.

Read on.


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