Wells Fargo Fined $85M for Faking Diversity Job Interviews

lowkey0z

lowkey0z

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www.yahoo.com

Wells Fargo will pay $85M to settle claim alleging ‘sham’ diversity hiring practices

A lawsuit alleged the employer held fake job interviews to comply with a policy requiring diverse hiring slates.
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Wells Fargo has agreed to pay an $85 million settlement following allegations that the bank conducted fake job interviews to boost its diversity statistics rather than genuinely hiring diverse candidates. The scandal emerged after reports surfaced that minority and female applicants were invited to interviews for positions that had already been filled, purely so the company could appear compliant with diversity initiatives.

The settlement aims to resolve claims that the bank’s hiring practices were misleading and discriminatory. Critics argue that this behavior undermined the very purpose of diversity programs — to create equal opportunities in the workplace.

Wells Fargo stated that it remains committed to improving its hiring process and ensuring fair opportunities for all candidates moving forward. The incident serves as a reminder of the importance of authentic inclusion efforts, not just performative gestures to meet corporate goals.

Former executive Joe Bruno addressed this concern, saying the “fake interviews” were “inappropriate, morally wrong, ethically wrong,” according to the New York Times.
Bruno was fired in August 2021, and Wells Fargo states that it resulted from his combative behavior with another employee. Nonetheless, other employees have shared similar sentiments to Bruno’s regarding Wells Fargo’s interviewing practices. Some admitted they had to conduct interviews with diverse hires even though the role was already filled.

Accounts of these claims surrounding Wells Fargo can be traced back from February 2021 to June 2022 and are documented in a class-action lawsuit filed by SEB Investment Management on behalf of the plaintiffs, according to The Charlotte Observer.

“We believe the claims were without merit. Wells Fargo does not tolerate discrimination in any part of our business,” Wells Fargo said in a statement, per The Charlotte Observer.

The bank attempted to dismiss the case in 2023, but a California federal court denied the motion. Wells Fargo and shareholders agreed to settle the class-action lawsuit on Oct. 15, notes The Charlotte Observer.
In the latest update, Wells Fargo has agreed to pay $85 million, The Charlotte Observer confirmed. The company still maintains its innocence, stating it has settled the lawsuit to avoid the financial toll and burden of ongoing legal proceedings.

“We are pleased to have reached a settlement,” Wells Fargo said in a statement, according to The Charlotte Observer.

Qualified individuals in the class-action lawsuit will be eligible for the settlement fund once fees, expenses, and taxes are considered. Shareholders who held stock between Feb. 24, 2021, and June 9, 2022 will also be eligible.
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this is....wow
 
lowkey0z

lowkey0z

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Ezekiel 25:17 said:
What do you mean by wow?

Did y'all really think companies was all about diversity and hiring black folks?


White women were the main diversity hires:skip:
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i'm saying wow at the fact that they're actually being held somewhat responsible for the shyt lol
 
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