{"id":3499,"date":"2016-09-24T11:28:09","date_gmt":"2016-09-24T15:28:09","guid":{"rendered":"http:\/\/community.mis.temple.edu\/itacs5211fall16\/?p=3499"},"modified":"2016-09-24T11:32:38","modified_gmt":"2016-09-24T15:32:38","slug":"wells-fargo-scandal-follow-up","status":"publish","type":"post","link":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/2016\/09\/24\/wells-fargo-scandal-follow-up\/","title":{"rendered":"Wells Fargo Scandal (Follow-up)"},"content":{"rendered":"<p>Apparently, the latest development on the Wells Fargo controversy takes interesting new twists.<\/p>\n<p>Last Tuesday (9\/20\/16), John Stumpf, CEO of Wells Fargo, spoke to the Senate Banking Committee to apologize for the bank\u2019s opening as many as 2 million bogus customer accounts to generate fees for the lender. \u201cI accept full responsibility for all unethical sales practices,\u201d CEO John Stumpf told a congressional panel. Another ripple effect of Wells Fargo\u2019s scandal includes John\u2019s resignation from a national panel that discusses financial matters with the Federal Reserve. These are perfect examples of what an organization can face by simply failing to apply strong policy controls and business processes. Poor risk evaluation to describe potential business impact can also lead to such unfortunate outcomes. See below for articles\u2019 links.<\/p>\n<p><a href=\"http:\/\/www.huffingtonpost.com\/entry\/wells-fargo-hearing_us_57e02afee4b0071a6e08b170\">http:\/\/www.huffingtonpost.com\/entry\/wells-fargo-hearing_us_57e02afee4b0071a6e08b170<\/a>?<\/p>\n<p><a href=\"http:\/\/www.usatoday.com\/story\/money\/2016\/09\/22\/wells-fargo-ceo-leaves-bank-panel-wake-fraud\/90862240\/\">http:\/\/www.usatoday.com\/story\/money\/2016\/09\/22\/wells-fargo-ceo-leaves-bank-panel-wake-fraud\/90862240\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apparently, the latest development on the Wells Fargo controversy takes interesting new twists. Last Tuesday (9\/20\/16), John Stumpf, CEO of Wells Fargo, spoke to the Senate Banking Committee to apologize for the bank\u2019s opening as many as 2 million bogus customer accounts to generate fees for the lender. \u201cI accept full responsibility for all unethical [&hellip;]<\/p>\n","protected":false},"author":11666,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[715345],"tags":[],"class_list":{"0":"post-3499","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-week-04-enterprise-architecture","7":"entry"},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/posts\/3499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/users\/11666"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/comments?post=3499"}],"version-history":[{"count":2,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/posts\/3499\/revisions"}],"predecessor-version":[{"id":3501,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/posts\/3499\/revisions\/3501"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/media?parent=3499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/categories?post=3499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/tags?post=3499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}