Former Hamilton bank employee speaks for thousands who can't over sales pressures

Never "in a million years" did Hamilton's Sally Watson think she'd be going to Ottawa to represent the thousands of Canada's big bank employees who are speaking out against the questionable sales tactics and pressures they face.

But last week, she found herself in front of a House of Commons committee, telling her story as a former bank employee to MPs, in effect becoming one of the few public voices of the ongoing banking controversy.

An ongoing CBC Go Public investigation has exposed the reality of banks pressuring staff to up-sell services to customers, in many cases putting them at financial risk – all at the cost of keeping their jobs.

I don't need any anonymity. I'm not intimidated by the bank anymore.- Sally Watson

Not only are the sales pressures creating a stressed workforce, workers say they are hitting the pockets of Canadians.

In recent weeks, thousands of bank employees have contacted Go Public with accounts of the sales pressures they face.

Watson is one of them —with a difference. As a former employee, she was prepared to be an identifiable voice among the thousands, who fear repercussions for speaking openly about their workplaces.

That is how she got be one of three bank employees chosen to speak to the House of Commons Finance Committee, which has started hearings on the topic.

Since Watson no longer works for a bank, she had no concerns with protecting her identity. She wanted to speak on behalf of those who can't.

"I thought well I don't need any anonymity. I'm not intimidated by the bank anymore," said Watson.

Here is part of what she told MPs last week:

"The pressure to achieve sales goals did more than coerce staff into working for nothing.

"It also urged them to sell products to customers that they had no need for. Raising credit card limits. Urging people to take out car loans, RRSP loans, open a line of credit or be approved for overdraft protection were common place.

"The one that disturbed me the most was approving people for much larger mortgages than they could afford.

"Anything to raise the profit of the bank, whether the consumer could afford the product or not."

Not a new practice

She used to work for the Bank of Nova Scotia for 33 years.

"When I worked for Scotiabank it was very high pressure, you're under pressure all the time," said Watson.

For her it wasn't just the sales goals and generating referrals, but the large work volume.

Watson also came forward because she wants people to know this isn't a new phenomenon.

As a Scotiabank employee, she felt pressured to sell customers things that weren't appropriate for their needs.

"I remember doing that when I was a teller 40 years ago, trying to sell accounts to people," said Watson. "There were all kinds of repercussions if you didn't do what the bank wanted you to do."

Ottawa wants to know what's going on

The outpouring from employees sharing their experience of being pressured to use questionable sales tactics, prompted the finance committee to look into how banks have been conducting business.

"They were extremely welcoming, made me feel very relaxed because you know, I'm just a small town gal," said Watson.  "I didn't feel any hostility, I didn't feel any politicking in the room."

It was very high pressure, you're under pressure all the time.- Sally Watson

She was one of three chosen to speak before the committee after her contribution to the Go Public investigation garnered her attention from an MP, who invited Watson to speak.

"I think this panel of people, on this finance committee are genuinely interesting in what comes out of these meetings," said Watson. 

The meeting Watson was involved in was one of three hearings.

The first meeting heard from officials from the Canadian Bankers Association and from the Financial Consumer Agency of Canada. 

The second heard from bank employees, and the third, held Monday, heard from bank representatives.

At the committee hearing Monday, executives from Canada's big banks defended the way they do business, saying they take steps to make sure employees don't engage in questionable sales practices.

They said codes of conduct govern the actions of their employees and violations are dealt with seriously.

Moreover, they said that since news reports emerged of troubling stories told by bank employees, the banks have taken a closer look at their practices and stepped up monitoring.

Watson thinks, and hopes the committee hearings will lead into a full-scale government inquiry.

Life outside the bank

Since leaving Scotia Bank, Watson has worked as a financial administrator and executive assistant to a McMaster University professor.

Watson found the career change to be an eye-opening experience.

Working in a nurturing environment where her skills were appreciated, gave her a different perspective.

"I found out when I went to work for somebody else that the real world isn't like that," said Watson. "Banks are quite insidious in the way they control their employees and the way the overwork them and over stress them."