{"id":9450,"date":"2016-10-28T18:19:13","date_gmt":"2016-10-29T02:19:13","guid":{"rendered":"http:\/\/associatednews.info\/content\/episode-732-bad-form-wells-fargo\/"},"modified":"2016-10-28T18:19:13","modified_gmt":"2016-10-29T02:19:13","slug":"episode-732-bad-form-wells-fargo","status":"publish","type":"post","link":"https:\/\/associatednews.info\/content\/episode-732-bad-form-wells-fargo\/","title":{"rendered":"Episode 732: Bad Form, Wells Fargo"},"content":{"rendered":"<div class=\"ftpimagefix\" style=\"float:left\"><a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.npr.org\/sections\/money\/2016\/10\/28\/499805238\/episode-732-bad-form-wells-fargo?utm_medium=RSS&amp;utm_campaign=business\"><img decoding=\"async\" width=\"150\" src=\"https:\/\/media.npr.org\/assets\/img\/2016\/10\/28\/gettyimages-480811681-d8bc2fea30d8cc8bc85d603b04a8fa1b0bf2354a-s1100-c15.jpg\" alt='In the banking industry essentially \"U5\" is a report card from all of your former employers, like a permanent record.'><\/a><\/div>\n<div>\n<div><button>Enlarge this image<\/button><\/div>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<p><span>Cultura RF\/Getty Images<\/span><\/div>\n<\/div>\n<p>A couple of weeks ago, we did a show about the massive scandal at Wells Fargo bank. How good employees were pushed to do bad things. Like opening up bank accounts that customers never asked for.<\/p>\n<p>After the show aired, we talked to ex-employees who said, you know: The fraud, that&#8217;s only half the story. Many of them said that after they left Wells Fargo they were surprised by how hard it was to get another job in banking. They&#8217;d apply, get to the interview, it&#8217;d go great. And then suddenly, silence and rejection. Like something was tripping them up over and over again right before they could get a new job. Some of them just gave up on banking all together.<\/p>\n<p>What was happening had everything to do with a little-known form called a &#8220;U5.&#8221; This is a form in the banking industry that&#8217;s essentially a report card from all of your former employers, like a permanent record.<\/p>\n<p>The ex-employees we talked to say they pushed back against the crazy sales culture at Wells Fargo. In retribution, they say, the bank marked them with a scarlet letter that is badly damaging their careers.<\/p>\n<div><span>Article continues after <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.npr.org\/about-npr\/186948703\/corporate-sponsorship\">sponsorship<\/a><\/span><\/div>\n<aside>\n<div><\/div>\n<\/aside>\n<p>Today on the show, we continue our investigation into Wells Fargo. And we go deep into this mysterious document, the U5. We&#8217;ll find out the well-meaning origins from someone who helped create the system. And we look into how Wells Fargo branded their workers with it. Plus, how hard it&#8217;s been for bankers to fight back.<\/p>\n<p><em>Music: <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.firstcom.com\/#!\/results.aspx?pageNo=1&amp;resultsPerPage=20&amp;viewTags=1&amp;mode=work&amp;sortFilter=Default%3C\/p%3E%3Cp%3EDesc&amp;keyword=727251&amp;keywordType=1\">&#8220;Stars Above&#8221;<\/a> and <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.firstcom.com\/#!\/results.aspx?pageNo=1&amp;resultsPerPage=20&amp;viewTags=1&amp;mode=work&amp;sortFilter=Default%3C\/p%3E%3Cp%3EDesc&amp;keyword=119038&amp;keywordType=1\">&#8220;Goldbrick.&#8221;<\/a> Find us:<\/em> <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/twitter.com\/planetmoney\"><em>Twitter<\/em><\/a><em>\/<\/em> <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.facebook.com\/home.php?ref=home#%21\/planetmoney?ref=ts\"><em>Facebook<\/em><\/a><em>.<\/em><\/p>\n<p><strong><a target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/blockads.fivefilters.org\/\">Let&#8217;s block ads!<\/a><\/strong> <a target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/github.com\/fivefilters\/block-ads\/wiki\/There-are-no-acceptable-ads\">(Why?)<\/a><\/p>\n<p>Source:: <a href=\"http:\/\/www.npr.org\/sections\/money\/2016\/10\/28\/499805238\/episode-732-bad-form-wells-fargo?utm_medium=RSS&amp;utm_campaign=business\" target=\"_blank\" title=\"Episode 732: Bad Form, Wells Fargo\" rel=\"nofollow\">http:\/\/www.npr.org\/sections\/money\/2016\/10\/28\/499805238\/episode-732-bad-form-wells-fargo?utm_medium=RSS&amp;utm_campaign=business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"ftpimagefix\" style=\"float:left\"><a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.npr.org\/sections\/money\/2016\/10\/28\/499805238\/episode-732-bad-form-wells-fargo?utm_medium=RSS&amp;utm_campaign=business\"><img decoding=\"async\" width=\"150\" src=\"https:\/\/media.npr.org\/assets\/img\/2016\/10\/28\/gettyimages-480811681-d8bc2fea30d8cc8bc85d603b04a8fa1b0bf2354a-s1100-c15.jpg\" alt='In the banking industry essentially \"U5\" is a report card from all of your former employers, like a permanent record.'><\/a><\/div>\n<div>\n<div><button>Enlarge this image<\/button><\/div>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<p><span>Cultura RF\/Getty Images<\/span><\/div>\n<\/div>\n<p>A couple of weeks ago, we did a show about the massive scandal at Wells Fargo bank. How good employees were pushed to do bad things. Like opening up bank accounts that customers never asked for.<\/p>\n<p>After the show aired, we talked to ex-employees who said, you know: The fraud, that&#8217;s only half the story. Many of them said that after they left Wells Fargo they were surprised by how hard it was to get another job in banking. They&#8217;d apply, get to the interview, it&#8217;d go great. And then suddenly, silence and rejection. Like something was tripping them up over and over again right before they could get a new job. Some of them just gave up on banking all together.<\/p>\n<p>What was happening had everything to do with a little-known form called a &#8220;U5.&#8221; This is a form in the banking industry that&#8217;s essentially a report card from all of your former employers, like a permanent record.<\/p>\n<p>The ex-employees we talked to say they pushed back against the crazy sales culture at Wells Fargo. In retribution, they say, the bank marked them with a scarlet letter that is badly damaging their careers.<\/p>\n<div><span>Article continues after <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.npr.org\/about-npr\/186948703\/corporate-sponsorship\">sponsorship<\/a><\/span><\/div>\n<aside>\n<div><\/div>\n<\/aside>\n<p>Today on the show, we continue our investigation into Wells Fargo. And we go deep into this mysterious document, the U5. We&#8217;ll find out the well-meaning origins from someone who helped create the system. And we look into how Wells Fargo branded their workers with it. Plus, how hard it&#8217;s been for bankers to fight back.<\/p>\n<p><em>Music: <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.firstcom.com\/#!\/results.aspx?pageNo=1&amp;resultsPerPage=20&amp;viewTags=1&amp;mode=work&amp;sortFilter=Default%3C\/p%3E%3Cp%3EDesc&amp;keyword=727251&amp;keywordType=1\">&#8220;Stars Above&#8221;<\/a> and <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.firstcom.com\/#!\/results.aspx?pageNo=1&amp;resultsPerPage=20&amp;viewTags=1&amp;mode=work&amp;sortFilter=Default%3C\/p%3E%3Cp%3EDesc&amp;keyword=119038&amp;keywordType=1\">&#8220;Goldbrick.&#8221;<\/a> Find us:<\/em> <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/twitter.com\/planetmoney\"><em>Twitter<\/em><\/a><em>\/<\/em> <a target=\"_blank\" rel=\"nofollow\" href=\"http:\/\/www.facebook.com\/home.php?ref=home#%21\/planetmoney?ref=ts\"><em>Facebook<\/em><\/a><em>.<\/em><\/p>\n<p><strong><a target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/blockads.fivefilters.org\/\">Let&#8217;s block ads!<\/a><\/strong> <a target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/github.com\/fivefilters\/block-ads\/wiki\/There-are-no-acceptable-ads\">(Why?)<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-9450","post","type-post","status-publish","format-standard","hentry","category-business-2"],"_links":{"self":[{"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/posts\/9450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/comments?post=9450"}],"version-history":[{"count":0,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/posts\/9450\/revisions"}],"wp:attachment":[{"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/media?parent=9450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/categories?post=9450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/tags?post=9450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}