Wells Fargo's Cross-Selling Quotas

Wells Fargo pushed retail staff to sell eight products per household — the internal slogan was 'Eight is Great' — with the quota tracked daily and enforced by threat of dismissal. Employees met it by opening roughly 3.5 million accounts customers had not asked for. The bank paid $3 billion to settle with the Justice Department and the SEC in 2020, and the Federal Reserve capped its total assets from 2018 until 2025.