Those practices have generated complaints within and outside the company, and have inspired a major lawsuit. Wells Fargo's aggressive sales tactics, which are already the subject of a lawsuit, are now under investigation by Los Angeles regulators, according to reports. The probe, along with the lawsuit, is related to allegations that the bank employed a high-pressure sales system that encourages illegal behaviour by employees. These practises came to light in a the Office of the Comptroller of the Currency investigation in 2013 , which revealed that the Federal Reserve workers, in the face of stricter sales quotas and fearing retribution from their managers, created accounts without customers' knowledge and forged customers' signatures. If Wells Fargo (OCC) and Times watchdog are both investigating the bank's practises, this would mark an escalation of what has so far been a local matter.
Wells Fargo's aggressive sales tactics, which are already the subject of a lawsuit, are now under investigation by Los Angeles regulators, according to reports. The probe, along with the lawsuit, is related to allegations that the bank employed a high-pressure sales system that encourages illegal behaviour by employees. These practises came to light in a the Office of the Comptroller of the Currency investigation in 2013 , which revealed that the Federal Reserve workers, in the face of stricter sales quotas and fearing retribution from their managers, created accounts without customers' knowledge and forged customers' signatures. If Wells Fargo (OCC) and Times watchdog are both investigating the bank's practises, this would mark an escalation of what has so far been a local matter.