scandal (5)

8028272083?profile=originalWells Fargo has suffered the consequences of repeat scandals since 2016. This week, the bank agreed to a $1 billion settlement with federal regulators who have cited their lack of effective risk management practices as the root cause of their woes.

This settlement with the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency would be another blow to Wells Fargo in a long line of many.

Let’s look at a timeline of Wells Fargo’s risk management scandals:

  • 2009-2016 – Wells
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8028275279?profile=originalOrbitz said hackers may have accessed 880,000 credit card numbers and possibly the names, dates of birth, phone numbers, and addresses of consumers who booked through the site in 2016 and 2017.

The Orbitz data breach pales in comparison to the Equifax hack of 2017 and has been buried among headlines concerning Facebook. For many, this story barely counts as “news” because it’s just honestly not that “new.”

For me, the humdrum attitude of complacency is what makes the Orbitz data breach blogworthy.

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8028269089?profile=original

Oxfam, one of the UK's biggest charities, was exposed this month to have had 87 claims of sexual exploitation and abuse involving its workers in the year ending April 2017, a 36% increase on the previous year.

In light of the ongoing Oxfam scandal, the Charity Commission, UK’s charity regulator, has launched an investigation of 179 British charities and agencies. So far, they have uncovered new claims alleging more than 120 workers have been accused of sexual abuse in the past year across 26 UK c

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8028265253?profile=originalIn an increasingly transparent world, failures in risk management within the widespread and nearly instantaneous reach of media outlets ranging from Facebook and Twitter to the Wall Street Journal have had destructive effects on companies like Uber. What started as an evidently ignored employee’s ‘incident report’ posted to a personal blog caught like wildfire only hours after she pressed the Share button. The blog caught the attention of the world’s most trusted news sources and cast a net so w

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8028253099?profile=originalWells Fargo recently paid $185 million in penalties – the highest fine levied by the Consumer Financial Protection Bureau (CFPB) since it began operations in 2011 – for inappropriate sales practices. Millions of accounts were set up without customer consent, in many instances generating overdraft charges and other fees. The CFPB referred to the Wells Fargo activities as “widespread,” and 5,300 employees have been fired.

The Wells Fargo scandal is on the level of those at Volkswagen,Wendy’sChipo

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