Wells Fargo Investor Seeks Files in Probe Over Fake Interviews for Diverse Candidates

A Florida pension fund is demanding Wells Fargo & Co. turn over files about a possible criminal probe into whether the bank violated federal law by setting up fake job interviews to meet in-house diversity guidelines.

The request in a Delaware lawsuit is tied to reports in the New York Times last year that federal prosecutors are investigating the bank over claims managers in its wealth-management division arranged job interviews for black and female candidates for already-filled positions.

Lawyers for the Pompano Beach General Employees Retirement System, which holds Wells Fargo stock, said Monday it wants the files “to investigate possible breaches of fiduciary duty” tied to the fake interviews, according to Delaware Chancery Court filings.

Wells Fargo officials declined to comment on the fund’s document demands, but said the company remains committed to its diversity goals.

“Our diverse slate guidelines for hiring, which are a best practice across many industries, are intended to, and have contributed to, measurable increases in diverse representation across the company,” Laurie Kight, a company spokeswoman, said in an emailed statement.

The bank has been dealing with a series of scandals and regulatory issues for years, and is operating under a growth cap imposed by the US Federal Reserve.