1. How did the three internal corporate governance mechanisms work—or fail to work—at Wells Fargo?
2. Describe the organizational structure used by Wells Fargo. Do you think this structure could have contributed to the employees’ illegal behavior in any way?
3. Describe Community Banking President Carrie Tolstedt’s management style. How did her leadership abilities influence the corporate culture in the commercial banking division? What do you think of her use of organizational controls?
4. Several years before the CFPB investigation made Wells Fargo’s illegal cross-selling practices public knowledge, top-level managers became aware of the problem. What actions did they take to stop this behavior? Why do you think the practice persisted, even after the firm tried to end it?