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Has Wells Fargo once again gone too far?

"Together we’ll go far."

Wells Fargo is well known for that famous slogan. However, the ongoing deluge of negative media stories about their marketing tactics may be revealing a sales and corporate culture that may be taking things too far.

Not content to leave recent controversies in their rear-view mirror, the banking titan is facing a new round of accusations that seem all too familiar. The now oft-told story of the unethical opening of savings and checking accounts to meet aggressive sale goals seems similar to recent allegations. While the tactics remain the same, the targeting is different, if not more precise.

Immigrants who do not have legal residency.

According to a lawsuit filed in May, Wells Fargo branches intentionally targeted undocumented immigrants in a scheme where Spanish-speaking colleagues would visit locations that undocumented immigrants commonly frequent.

Meeting immigrants at construction sites and convenience stores, bank staff drove them to the branch and persuaded them to open an account. Some employees dangled $10 in front of customers as an incentive to sign up.

The company called it "Hit the Streets Thursday." What it lacked in alliteration, it made up for in aggressive and possibly unethical sales tactics.

What former employees call strategies that go back an entire decade raise new concerns. Once again, a familiar spotlight shines bright on the San Francisco-based banker, re-illuminating their practice of deceiving customers by opening accounts in their name and oftentimes without authorization.

Wells Fargo claims that the allegations run counter to the expectations of the company and are inconsistent with their policies values and community relationships. They cite a longstanding commitment to providing banking services to immigrants within the law and industry requirements.

Past patterns of behavior may show otherwise. Can current and future customers take Wells Fargo’s latest claims to the bank?

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