https://shadowproof.com/2016/12/12/wells-fargo-fake-accounts-scandal-spreads-life-insurance-business/
Prudential Financial announced it would suspend the distribution of a low-cost life insurance policy through Wells Fargo. The low-cost life insurance policy, called MyTerm, had been promoted by Wells Fargo since 2014 throughout its large number of retail banking outlets.
The suspension comes shortly after a wrongful termination lawsuit was filed by three former Prudential employees, which alleged that Wells Fargo employees signed up customers for MyTerm life insurance policies without the customer’s knowledge to hit sales goals. The plaintiffs, who worked at Prudential’s corporate investigations division, claim their reports of the fraud led to their termination because Prudential management did not want to take any action that could damage its business with Wells Fargo.
Here's the worse part -
In all, over 5,000 low-level employees have been terminated and are likely never going to work in banking again, while the CEO and the executive responsible for managing the program, Carrie Tolstedt, will walk away with millions upon millions of dollars.
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