Wells Fargo Bank recently discovered, through the use of background checks, that some of their employees were convicted criminals who lied about their previous transgressions with the law. Wells Fargo has since dismissed them for past criminal records concerning dishonesty and breach of trust. As an insured depository institution, Wells Fargo is bound by Section 19 of the Federal Deposit Insurance Act that prohibits them from hiring or continuing the employment of any person who they know has a criminal record involving dishonesty or breach of trust – regardless of when the incidents occurred. This includes convictions as well as situations where the person has agreed to enter into a pre-trial diversion or similar program in connection with a prosecution for such an offense, even if the charges ultimately are dismissed. Wells Fargo has been performing thorough background checks on all its team members, which includes a fingerprint check with the Federal Bureau of Investigation.
