Why Wells Fargo CEO John Stumpf is on the hot seat

CBS News quotes Sudhir Suchak, a clinical assistant professor of finance in UB’s School of Management, in a story regarding revelations that employees of Wells Fargo — which had instituted intense sales targets — had opened 2 million deposit accounts and credit cards without customer authorizations. Suchak told CBS News that programs implementing sales targets and other incentives require serious monitoring. “The key is monitoring and serious, serious monitoring,” Suchak wrote in an email to the news outlet. “Without that, it will not be successful. And that means monitoring by all levels at the bank, especially upper management.”

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http://www.cbsnews.com/news/why-wells-fargo-ceo-john-stumpf-is-on-the-hot-seat/