Wells Fargo has fired more than 100 employees, saying they personally defrauded a coronavirus relief program from the U.S. Small Business Administration.
In a memo sent Wednesday and obtained by NPR, the company said it had identified employees that it believes made false representations in applying for relief funds through the SBA’s Economic Injury Disaster Loan program.
The employees’ actions were outside of their work responsibilities, the company said.
“We have terminated the employment of those individuals and will cooperate fully with law enforcement. These wrongful actions were personal actions, and do not involve our customers,” wrote David Galloreese, head of human resources at Wells Fargo.