Wells Fargo moves to settle DEI lawsuit over claims it held phony job interviews – Arizona Daily Star

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Wells Fargo moves to settle DEI lawsuit over claims it held phony job interviews

Catherine Muccigrosso
The Charlotte Observer

Sep 21, 2025

52 mins ago

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People walk by a Wells Fargo bank branch on Oct. 13, 2017, in New York City.

Spencer Platt, Tribune News Service

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Catherine Muccigrosso
The Charlotte Observer
Wells Fargo and its shareholders agreed to settle a federal class-action lawsuit alleging the bank misrepresented its diversity, equity, and inclusion hiring initiatives by holding phony job interviews.Terms of the settlement are being negotiated and expected to be submitted for court approval by Oct. 13, according to a Sept. 15 filing in U.S. District Northern District of CaliforniaFrom February 2021 to June 2022, the plaintiffs claimed in the suit that diverse candidate interviews were shams and held despite the fact that another candidate was already selected for the job.“We believe the claims were without merit,” Wells Fargo said in a statement Wednesday to The Charlotte Observer. “Wells Fargo does not tolerate discrimination in any part of our business.”
The bank also noted the U.S. Department of Justice and the Securities and Exchange Commission closed investigations into the allegations without taking action.

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