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Wells Fargo Whistleblower Wins $5.4M Payout and His Job Back

Image: Wells Fargo Whistleblower Wins $5.4M Payout and His Job Back
Wells Fargo has been ordered to pay a whistleblower $5.4 million and to rehire the former manager. (Andrew Cline/Dreamstime.com)

By    |   Wednesday, 05 Apr 2017 02:12 PM

OSHA has ordered banking giant Wells Fargo to pay a whistleblower and former manager $5.4 million and to rehire him.

The $5.4 million payout was the largest ever ordered by the Labor Department’s Occupational Safety and Health Administration through its whistleblower protection program, and included back pay since the 2010 firing, compensatory damages, and legal fees, according to The New York Times.

The whistleblower was fired in 2010 after reporting multiple incidents involving suspected fraud by two bankers who worked under him, the NYT reported. He had received good reviews before the firing, and worked in the Los Angeles area.

It was not known whether the possible fraud the manager reported was related to the scandal concerning employees setting up unauthorized bank and credit card accounts for customers without their knowledge. The firing did take place during that time period, the NYT noted.

Wells Fargo disagreed with the findings and said it would request a full hearing, according to a statement by bank spokesman Vince Scanlon.

“This decision is a preliminary order and to date there has been no hearing on the merits of this case,” Scanlon said, Bloomberg reported. “We take seriously the concerns of current and former team members.”

OSHA said an appeal by the lender doesn’t stay the preliminary order, Bloomberg reported.

The whistleblower was given 90 days to find another job with Wells Fargo after reporting his underlings, OSHA’s statement said. He was fired after being unsuccessful, and has been unable to work in his field since then.

The man was not identified, but Scanlon said he worked for the private bank division of Wells Fargo’s wealth-management unit, Bloomberg reported.

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OSHA has ordered banking giant Wells Fargo to pay a whistleblower and former manager $5.4 million and to rehire him.
wells fargo, whistleblower
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2017-12-05
Wednesday, 05 Apr 2017 02:12 PM
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