Wells Fargo Told to Rehire Whistle-Blower, Pay $5.4 Million – Missoula, Montana City Council orders divestment of funds from Wells Fargo

The U.S. government ordered Wells Fargo & Co. to reinstate a former bank manager who was fired after reporting suspected illegal behavior to his superiors and on a company hotline.

The manager, who wasn’t identified, was dismissed in 2010 after reporting on incidents of suspected bank, mail and wire fraud by two bankers in the Los Angeles area, according to a statement Monday from the Occupational Safety and Health Administration. The San Francisco-based lender also was ordered to give the whistle-blower about $5.4 million in back pay, compensatory damages and legal fees after OSHA determined his warnings were at least a contributing factor in the termination.

by Laura J Keller

Full Story: https://www.bloomberg.com/news/articles/2017-04-03/wells-fargo-told-to-reinstate-whistle-blower-pay-5-4-million

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Missoula, Montana City Council orders divestment of funds from Wells Fargo

The Missoula City Council voted unanimously Monday night to divest all city funds from Wells Fargo Bank, bringing tears to one council member’s eyes and words of thanks from a dozen citizens in attendance.

The resolution, proposed by councilwomen Ruth Swaney and Heidi West, calls out Wells Fargo both for its nearly $4 billion involvement in the Dakota Access Pipeline and for unscrupulous and predatory banking practices.

All of those who spoke at Monday’s meeting favored the divestment, and thanked the council for speaking out on behalf of clean water, Native American rights, social and environmental justice, and consumer protection.

By Sherry Devlin/Missoula Current

Full Story: http://www.missoulacurrent.com/business/2017/04/missoula-wells-fargo-dapl/