Wells Fargo Mediation with Fired Employees Fails
Tuesday, February, 25, 2014
Mediation between Wells Fargo Bank and employees, whose employment with a local Wells Fargo branch was terminated in July 2012 over accusations of ethics violations, has failed.
The employees, including the branch manager, were fired for various violations of ethics rules, most prominently awarding themselves internal credits for opening accounts they did not actually earn. The accusations were levied by Wells Fargo District Manager Scott Zardenetta. The employees have claimed they were fired to cover up Zardenetta’s substance abuse issues and filed a wrongful termination lawsuit. After two days of mediation talks held with attorneys for the bank and the former employees, no settlement was reached. Unless another mediation session is scheduled, the case will go to trial in August.
Wells Fargo maintains the firings were proper and legal, and denies that any sort of cover up involving Zardenetta occurred. The bank has also asserted that the bank manager, Mark Stroud, has documented performance issues that support his employment termination as well. Currently, there is no further mediation scheduled.