Bank / Credit Union

Wells Fargo halts diversity hiring program due to reports of fake interviews

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June 8, 2022

Wells Fargo is under fire for its diversity hiring guidelines, as former executive Joe Bruno claims the bank would conduct fake interviews with minorities. As a result, the bank has halted its diversity program to make adjustments for a relaunch next month, according to a report by Fox Business.

The bank announced an effort in 2020 to interview minorities for at least half of open positions earning $100,000 or more, but these interviews may not have been genuine, according to a report by Business Insider.

Bruno claimed the bank would interview minority candidates for positions that had already been filled. He said he was fired in summer of 2021 for telling his managers that these interviewers were "inappropriate" and "ethically and morally wrong." The bank allegedly told Bruno and six other current and former Wells Fargo employees to perform these "fake interviews."

Charles Scharf, CEO of Wells Fargo, claims the bank is dedicated to diversity but is putting the policy on hold to make adjustments.

"Make no mistake: we will continue to actively seek diversity in hiring, even during this pause," Scharf wrote in a statement. "The pause is a chance for us to review our guidelines and processes and to make improvements — it does not mean that anyone at Wells Fargo should stop hiring or stop actively recruiting diverse candidates. Upon completion of our review, we will make adjustments to our diverse slate program where appropriate and relaunch it during the month of July."