Wells Fargo Responds to New York Times Criminal Investigation Article
June 09 2022 - 6:11PM
Dow Jones News
By Denny Jacob
Wells Fargo & Co. late Thursday responded to a New York
Times article stating that the company is at the center of a
criminal investigation regarding whether it had violated federal
laws.
The Times reported earlier in the day that the investigation
regarded whether the financial-services company violated federal
laws by conducting fake job interviews with women and people of
color for positions that had already been promised to other
people.
"No one should be put through an interview without a real chance
of receiving an offer, period," Wells Fargo said in a statement.
The company said that its diverse slate guidelines it put in place
are meant to increase diverse representation across the company and
that it has seen results in its hiring data since 2020.
The company-wide policy that was put in place in 2020 said that
at least of the candidates interviewed for positions paying
$100,000 or more needed to be diverse.
Wells Fargo said that earlier this week it temporarily paused
the use of its diverse slate guidelines and that during the pause
it is conducting a review so employees can understand how the
guidelines should be implemented, "so we can have confidence that
our guidelines live up to their promise."
Sources told the Times that a civil rights unit inside the
criminal division of the Manhattan U.S. attorney's office is in the
early stages of conducting the investigation.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
June 09, 2022 17:56 ET (21:56 GMT)
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