DEI,
Labor/Employment
Jul. 31, 2024
Wells Fargo must answer claims it faked diversity initiatives
The lawsuit claims that the bank systematically conducted sham interviews and reassured investors about the success of the Diverse Search Requirement until applicants and employees started raising concerns about the hiring policies.
Wells Fargo & Co. cannot escape a shareholder lawsuit accusing the financial services company of boasting of diversity and inclusion initiatives but conducting fake interviews with minority candidates it never planned to hire.
The San Francisco institution has generated controversy over its approach to DEI practices, most notably in 2020 when an internal memo from CEO Charles Scharf saying there was a "very limited pool of Black talent to recruit from" leaked to the...
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