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Wells Fargo: Taking Its Case to the Court of Public Opinion

April 4, 2017

Two weeks ago, Wells Fargo CEO Tim Sloan told a town hall-style meeting in Orlando, FL, that the bank would launch a new advertising campaign built around the theme “Building Better Every Day.”


In today's (Tuesday, 4/4) print editions of the NYTimes and the WSJounral, Mr. Sloan expressed a big "Thank you" "to all who have stood by us as we have worked to make things right at Wells Fargo."


Tim Sloan shared the following steps taken by the bank to regain the public's trust:

  • We've taken many steps to make things right for our customers.
  • We've made changes to ensure we always put our customers' needs first.
  • We've strengthened our ethics and risk management.
  • And we've demanded greater accountability from ourselves.


In the near term, the Wells Fargo Board of Directors will issue the results of its independent investigation. That should be interesting - particularly when it can be compared to the results of federal investigations and courtroom testimony.


Which reminds us of Credit Suisse, which just this weekend published newsprint ads in at least 2 U.K. newspapers. In those ads, CEO Tidjane Thiam sought to distance the bank from Friday's reputation-busting raids on Credit Suisse offices in 5 countries.