News Observer/Business: New checking accounts down 41% at Wells Fargo.
Wells Fargo saw a further decline in business as the San Francisco bank continues to suffer in the wake of its fake accounts scandal.
“We still have a lot to do to rebuild trust” – said the head of retail banking. It will take some time for Wells Fargo to regain that trust….and the key element is whether there is a culture change at the bank. The culture change may in fact take longer.
Our business name identified us….we had to maintain trust….our name was always front and center.