Wells Fargo Pushed by Nuns to Report on Its Ethical Lapses
- Sisters of St. Francis spearhead campaign on bank’s culture
- Rhode Island treasurer calls lender’s action ‘a first step’
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Wells Fargo & Co. agreed to publicly report on the root causes that led to a rash of ethical lapses in recent years, a group of investors said.
The group, led by the Interfaith Center on Corporate Responsibility and including about 20 religious organizations as well as state officials from Rhode Island and Connecticut, said Tuesday they would withdraw a shareholder proposal on the issue following the bank’s decision. They had sought to put it to a vote at the lender’s annual meeting in April.