Wells Fargo drops product sales goals for retail bankers

Seeking to reassure regulators, lawmakers and customers over its bogus account scandal, Wells Fargo eliminated product sales goals for consumer bankers.

“We want to make certain our customers have full confidence that our retail bankers are always focused on the best interests of customers,” CEO John Stumpf said in a statement.

Last week, the bank agreed to pay a $185 million fine and refund $5 million in fees wrongly charged to customers. The company also fired 5,300 employees who opened false accounts to meet sales goals.

Read more from Bloomberg.