Many major financial institutions have come under fire for their lack of diversity in their ranks. Wells Fargo is particularly egregious in its lack of representation, and has repeatedly engaged in racist practices, against its own employees, Black families applying for mortgage loans, and women and people of color applying for jobs. But the newest claims against the Wall Street giant are some of the most horrifically racist and sexist yet.
Sign now to demand the Department of Labor investigate Wells Fargo's discriminatory practices!
When positions open at Wells Fargo, employees are encouraged to interview "diverse" candidates - mind you, a specific person cannot be diverse, this is just what the bank called an interviewee who is a woman or person of color - in order to keep up with an informal policy that the bank has had for years. But one employee noticed that these "diverse" candidates wouldn't be given interviews until after someone else had been hired or informally selected for the job. Yes, you read that right: in order to meet a diversity quota, Wells Fargo was conducting fake interviews, stringing women and/or people of color along in the hiring process that they never had a shot at in the first place.
Yet it gets worse. The original policy to ensure that "diverse" candidates were interviewed came as a direct result of an anti-discrimination lawsuit filed against the company. Several years ago, Wells Fargo paid millions to settle claims that the company was discriminating against Black job applicants. Before that, in 2013, several Black financial advisers sued the bank for racial discrimination practices occuring in internal opportunities. In the midst of all of these accusations, Wells Fargo instituted the informal policy to interview at least one woman and/or person of color for each new open position (with the exception of certain senior positions). Lo and behold, the informal policy hasn't meant any improvements in diversity initiatives and actually harmed many women and non-white applicants by wasting their time.Clearly this multinational financial giant is no stranger to racism. Time and time again, Wells Fargo has shown that it is more committed to lip service than actual diversity initiatives. We must push the Department of Labor to investigate these instances of fake interviews and any other discriminatory practices that might be happening at Wells Fargo! Sign the petition now if you agree!