Wells Fargo must pay a former commercial banking senior manager more than $22 million for allegedly firing the worker, who raised concerns about potential wire fraud, OSHA said Thursday.
The financial services firm terminated the Chicago-area manager after they repeatedly contacted superiors and a corporate ethics hotline about purported directions to falsify customer information, the Labor Department’s Occupational Safety and Health Administration alleged.
“Wells Fargo has zero tolerance for acts of retaliation, and employees are encouraged to report concerns which will be promptly and thoroughly investigated,” a spokesperson said Thursday. The company disagrees with the OSHA findings and plans to appeal to an administrative law judge, the spokesperson said.
The fired worker also accused Wells Fargo managers of engaging in “price fixing and interest rate collusion through exclusive dealing,” according to OSHA’s press release.
The company fired the ex-manager in 2019 and later attributed the termination to a restructuring process. But OSHA investigators determined the firing wasn’t consistent with Wells Fargo’s treatment of other managers removed as part of the same initiative, the release said.
Evidence shows the company “took retaliatory action against this senior manager for repeatedly expressing concerns about financial management they believed...
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