Wells Fargo hiring practices under investigation: report

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Federal prosecutors in New York have opened a criminal investigation into whether Wells Fargo violated federal laws by conducting fake job interviews, according to The New York Times. reported Thursday, citing people familiar with the matter.

Earlier this week, the bank said in a memo, he suspended a hiring policy that requires recruiters to interview a diverse group of applicants, after another New York Times report said such interviews were often bogus and conducted even though the job had already been promised to someone else.

The bank did not immediately respond to a request for comment from Reuters.

The New York Times reported last month that a former employee of the bank’s wealth management business complained that he was forced by his bosses to interview people for jobs already promised to others, just to meet the requirement of list diversity.

Diverse hiring is a talent acquisition strategy in which the recruiter starts with an already diverse pool of qualified candidates.

CEO Charles Scharf said the bank will continue to actively seek diversity in hiring even during this pause, and upon completion of the review, will make adjustments to its diverse slate program as appropriate and relaunch it. in July.

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