10 Most Hated Companies in America Right Now

4. Wells Fargo

People hate Wells Fargo & Co (NYSE:WFC) and particularly so after the 2017 scandal involving fake accounts. In September 2016, it was discovered that Wells Fargo employees had been opening fraudulent accounts without clients’ consent since 2011. Clients were charged unanticipated fees and received unexpected debit or credit cards or lines of credit. The scandal led to the resignation of Wells Fargo & Co (NYSE:WFC)’s CEO John Stumpf and the dismissal of over 5,000 employees. Wells Fargo & Co (NYSE:WFC) also saw a mass exodus of clients with plummeting applications for credit cards and checking accounts in the following quarters. Wells Fargo & Co (NYSE:WFC) currently has an ACSI score of 74, which is close to the bottom of the ranking among banks.

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Big banks were pretty much disliked by the public since the financial crisis happened. The scandal with fake accounts affected  Wells Fargo & Co (NYSE:WFC)’s stock quite significantly, as lost 12% in September 2016. However, in November, Trump won the elections and investors assessed that the potential deregulations of the banking sector would bring much more benefits to the company, so they sent the stock higher.