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Former, current Wells employees: Managers pushed for hard-sell of overdraft protection

Aside from theirsales targets, former and current managers and branch bankers of San Francisco-basedWells Fargo & Co.claim that their managers also pushed for them to hard-sell overdraft protections,The Wall Street Journal reported Oct.10.

While a spokespersonfor Wells Fargo told the Journal thatthe company adheres to the regulatory requirement that customers should opt in togetting overdraft services, former and current employees told the news outlet thatthey were instructed on how to get around the regulation.

The Journal spoke to former and current personalbankers and managers in Florida, California, Georgia, Nebraska, Virginia and Texas,who said that one way overdraft services were pushed was by telling customers thatit was a requirement for getting a checking account. The former and current employeessaid that signing customers for overdraft protection did not count under their dailysales quotas but some branches offered other incentives such as gift cards rangingfrom $15 to $100.