Wells Fargo’s policy on diverse hiring came under fire last month, when a former executive in the bank’s wealth management division told The New York Times that Wells held phony job interviews for nonwhite and female job-seekers for positions that had already been offered to other candidates.
That report — along with an ongoing racial disparity in mortgage refinancing at the bank, and a penalty over anti-money laundering violations — prompted Sen. Sherrod Brown, D-OH, to urge Scharf in a letter last week to “once and for all address Wells Fargo’s governance, risk management and hiring practices — weaknesses that have plagued the bank for almost a decade.”
