The Magazine of Corporate Responsibility

Tag Archive for ‘Wells Fargo’

Where Wells Fargo Goes From Here

Columnist Gael O’Brien examines efforts by a group of values-driven shareholders to pressure the scandal-ridden Wells Fargo bank for a report containing some structured self-examination. A Roman Catholic nun who’s active in the campaign says Wells Fargo officials “come back to us and tell us they are living by their vision and values….We are betrayed because they haven’t been living by that.”

Fed Shrugged Off Warnings, Let Banks Pay Shareholders Billions

In March 2011, the Federal Reserve made a controversial decision to permit 19 leading U.S. financial institutions to pay out $33 billion to shareholders, including many of their own top executives. Pulitzer Prize winner Jesse Eisinger’s in-depth account of the Fed’s momentous decision sheds light on the inner workings of one of the most powerful but secretive economic institutions in the world.

Banks Funding Destructive Mountaintop Removal Mining

Many major banks invest in companies that engage in the environmentally destructive practice of mountaintop removal (MTR) coal mining, whereby the tops of mountains are removed by explosives to expose thin seams of recoverable coal. Despite some banks’ stated intent to limit such financing, a Sierra Club/Rainforest Action Network “report card” indicates that few are yet walking the talk.

A Test Where the Banks Had the Questions and Answers

Later this month, the U.S. Federal Reserve is going to let banks know how they did on its most recent round of “stress tests,” a follow-up to the tests the Fed conducted in the wake of the financial crisis. But reporter Jesse Eisinger says something seems different this time around. It’s almost as if the banks knew their results, even before the testing was complete.

The Ethics of Social Media – Part I: Adjusting to a 24/7 World

You say your company hasn’t had an OMG moment over Facebook ethics? Well, it could be just a matter of time. In the first part of a two-part series, James Hyatt examines how the social media explosion – from email and Facebook to blogs and Twitter – is making a hash of once-resolved issues and creating all kinds of new dilemmas.

Say-on-Pay Shareholder Votes Gain Momentum

The number of so-called “say-on-pay” votes has increased from only 6 in 2008, when Aflac Inc. became the first to adopt the practice, and 19 in 2009.