In the early 1990s Sears sought to restore its reputation with $46 million in coupons because some employees of its automotive repair division (who were paid a commission on sales of parts and services) had allegedly enticed customers into authorizing and paying for needless repairs. This is certainly not the first time that a high-profile sales scandal like this has hit the press. That speaks to why they did this in the first place: To meet sales quotas and earn incentives. The CEO of Wells Fargo, John Stumpf, apologized in front of a congressional panel Tuesday, saying in a statement, “I accept full responsibility for all unethical sales practices.” The settlement stems from the bank’s employees allegedly opening more than 2 million bank and credit card accounts without customers’ permission. In early September Wells Fargo agreed to pay a $185 million fine and return $5 million in fees wrongly charged to customers.
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