Wells Fargo Launches Unit to Improve Sales Practices

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Wells Fargo (NYSE: WFC) is launching a new advisory group inside the bank to improve sales practices and enhance customers’ experiences, the company announced in a press release.

The Office of Consumer Practices (OCP) will report to chief operating officer Scott Powell and will be led by Michael Lipsitz, the company’s chief regulatory and policy affairs officer. 

Duties of the new division include analyzing and making recommendations on the bank’s products and services, engaging in the product development process, reviewing complaints and other data, and advising on all aspects of how Wells Fargo interacts with consumers.

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