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Beware the 'Cargo Cult' of Performance Targets

American Banker

The phony-account scandal at Wells Fargo illustrates how sales quotas can incent bad behavior. Is your bank effectively mitigating the risk of 'managing to metrics'? Or could it be in danger of becoming a 'cargo cult'?

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First Foundation to Buy Two PacWest Branches

American Banker

has agreed to buy a pair of branches from Pacific Western Bank in Beverly Hills, Calif. First Foundation in Irvine, Calif.,