Wells Fargo ordered to pay whistle-blower

[Omaha Steve]

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/27/BUGQ14D34D.DTL

Verne Kopytoff, Chronicle Staff Writer

Thursday, November 27, 2008

(11-26) 17:14 PST -- Federal regulators have ordered Wells Fargo & Co. to pay $75,000 in back wages and damages to a Bay Area employee who was wrongfully transferred after alerting management about potential fraud by a co-worker.

The U.S. Department of Labor's Occupational Safety and Health Administration announced the decision Wednesday, saying the San Francisco bank had violated federal laws protecting whistle-blowers.

"It is vital that employees be able to raise fraud concerns to their employers without fear of retaliation," Ken Atha, OSHA's regional administrator in San Francisco, said in a statement.

Wells Fargo responded to the decision by saying: "We don't agree with the findings and intend to appeal to an administrative law judge. Wells Fargo insists on maintaining the highest ethical standards, and we'll continue to do so."

Investigators found that Wells Fargo transferred the employee from a Cupertino branch to San Jose as punishment for alerting managers about a colleague who had recommended unsuitable investments to customers and encouraged them to purchase securities held by a separate company.

FULL story at link.

[babylonsister]

1. Only $75,000? Drop in the bucket: 'go away' money. Better than

losing, but still...

[BrklynLiberal]

2. Good news!!