US bank in sales abuses

“Jump into January” programme was notorious for the impact it had on staff.

Initially designed to motivate branch employees to exceed sales goals, the pressure to beat higher daily sales targets instead encouraged them to forge customer signatures, hold off on opening accounts signed for in December and target friends and family to make up the numbers.

The campaign was highlighted in an internal Wells Fargo report released yesterday that blamed the bank’s sales culture and the management of its retail division for years of sales practice abuses.