THE PERSISTING WELLS’ ERRORS

It’s increasingly difficult for Wells to successfully bring off its efforts at making amends for past errors.   The bank recently sent out 38,000 erroneous communications to customers who had been forced to buy unneeded car insurance.  In some instances, it has also sent refunds to people who aren’t bank customers, notified people of incorrect amounts for the refunds, and told people of coming refunds who had not bought insurance.  These errors are being attributed to vendors working on the matter, along with coding errors, etc.  However, one has to ask: how often does this kind of thing happen in normal banking operations; and how is it that errors of this magnitude cannot be prevented?   One of the most important elements in dealing with instances of organizational chaos, which this certainly is for Wells, is that leadership maintain constant control of the steady and concerted efforts at remedying the chaotic situation.  Not happening at Wells, thus far.

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