The history of American business is littered with companies whose reputations fell apart overnight. But it’s rare for a company with a history as long and august as Wells Fargo’s to suffer so quick and thorough a fall.
For 160 years, Wells Fargo was a feel-good brand name. It’s a Main Street bank, meaning that by and large it makes its money by selling services to individuals and small businesses—checking accounts, savings accounts, mortgages, safety deposit boxes.
From its beginnings as a cross-country express service in 1852, the company evolved into a regional powerhouse, and from there, to one of the biggest retail banks in the world.
But today, for many people, the name Wells Fargo stands for scandal.
Full article at The Slate: Link
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