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The new Wells Fargo boss has two words for the entire workforce: we're sorry.
Chief Executive Tim Sloan said they formed a special HR group to help employees rejoin the firm, who left the bank for not being able to meet performance goals.
Wells Fargo is facing a public outcry as around 5,300 employees were said to have created bank accounts and obtained credit cards for clients without their authorization. In some cases, contact details and signatures were forged.
Sloan stressed those involved in creating fake accounts may not be qualified for rehire. However, those who were fired because of performance or not turning to wrongdoing may get their jobs back.
In his first speech as Wells Fargo CEO, he also promised to rekindle confidence in the company although it may take a long time to do so.
