In the News

Title

How Bank Cross-Selling Can Help, Hurt You

Document Type

Article

Publication Date

9-16-2016

Abstract

Wells Fargo & Co. ‘s settlement with regulators last week over its cross-selling, and continuing investigations into the matter, raise questions for consumers over the practice, and its benefits and risks.

Cross-selling is a widely used sales technique in which companies pitch consumers of one product on complementary products or extra features, such as a warranty, for an added fee.