The road to reclaiming consumer trust got harder for Wells Fargo with the loss of its Better Business Bureau (BBB) accreditation.
BBB ratings are based on a number of elements, including a business’s complaint history, the type of business, length of time the business has been operational, use of transparent business practices, ability to honor commitments to the BBB, such as having competency licensing and avoiding government actions, and failing to “appropriately” respond to BBB advertising challenges related to the misuse of the BBB name or marks or “questions about the truthfulness, accuracy or substantiation of advertising claims or compliance with the BBB Code of Advertising.”