Wednesday, October 4, 2017

Wells Fargo – Behavior Affects Reputation

In the last two years, the reputation of Wells Fargo Bank has dropped six points of favorability in the Denver metro area, with an increase of 17 points in negative views from the residents of the region’s seven counties. Its unfavorable rating now nearly equals its favorable (41% favorable and 40% unfavorable).

In a survey conducted in June 2017 and compared to a similar regional survey in 2015, Wells Fargo has dropped from top position in the region’s banking community to behind Chase Bank and First Bank in favorability.

Although Wells Fargo has taken corrective action, continued stories about abuses probably require even more sweeping change.

Both surveys, 2017 and 2015, were conducted by Ciruli Associates by telephone – cell or landline – with 500 adult residents randomly selected in the seven-county Denver metro area. The margin of error is ±4.4 percent points.

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