Fake Job Interviews Are Securities Fraud

Programming note: Money Stuff will be off tomorrow, back on Thursday.

We talked in 2022 about reports that Wells Fargo & Co. did fake job interviews for fake diversity purposes. Wells Fargo had rules saying that “diverse candidates” had to be interviewed as part of the hiring process for certain jobs. Sometimes a job would open up, and a manager would offer it to a White man, but in order to comply with the rule, he would need to interview a woman or person of color before filling the job. So he’d call in a Black woman, interview her, and then immediately toss her resume in the garbage and give the job to the White man anyway.