Wells Fargo (WFC) has been in the news for all the wrong reasons the fast few months. Bazar incentive plans encouraged bank branch employees to create fictitious accounts to meet sales and new customer goals was a colossal mistake by senior management. More recently, the company was fined $1 billion for forcing more than 0.5 million customers to buy unnecessary insurance policies in connection with securing a car loan. Part of that settlement caused was a penalty to charge mortgage borrowers extra fees for locking in an interest rate.
