I am the producer of Breaking Banks with Brett King, the #1 global, Fintech podcast/radio show. As that name suggests, the overall tone is set by Brett’s ideas. And as a producer, I like to make sure that there is a diversity of thought on that platform so that there is a healthy debate about the disruption of the financial system by technology.

But today, I wanted to say something about the news of the scandal at Wells Fargo. Brett kindly allowed me the privilege of sharing my thoughts on the show today, and I am publishing them here as well.

You see, I am a Wells Fargo customer. I didn’t exactly choose them as my bank. As happened a lot throughout the last 2 decades, I was at a small bank that was bought, and then bought again, and then in the turmoil of 2008, was swallowed up by Wells Fargo. But, I haven’t had a lot of complaints about Wells Fargo. I have actually been pleased with them as a customer because of their continued friendliness to mobile banking needs. And we have had their innovation team on this show, and highlighted some of their small business initiatives.

So the news that their retail banking division had incentivized fraudulent behavior to fatten the bottom line makes me sick to my stomach and it makes me angry. Many Wells Fargo customers are. And people are mad that regulations haven’t worked.

I have heard some say that the regulations actually did work. The employees lied and stole and were caught and fired and the company was fined. But regulations and laws don’t exist so that we can fine and incarcerate people. They exist to give us a framework of acceptable behavior. Perhaps they could be written better, and we will have future discussion on that on the show. But the reason many feel that the regulations didn’t work is that Wells Fargo, and all of the other financial institutions in this country, are supposed to respect the rules and NOT behave criminally. It is not an invitation for them to behave badly just because they can afford to.

And while the Consumer Financial Protection Bureau, and others, did their job and levied a huge fine of 190 million dollars, it was 95 million short. Specifically the 95 million that Carrie Tolstedt gets as she resigns from her position as the head of the Community Banking division, the same division that rewarded, and then fired, five-thousand-three-hundred of its employees for illegally opening 2 million fraudulent accounts.

I realize that there has been a new emphasis on the “retail” of retail banking. Wells Fargo actually made this more transparent when they stopped calling their brick and mortar “branches” and started calling them “stores”. But bankers know, maybe better than most, that a person’s money is interwoven with their health and well being, and the health and well being of their families, their homes, their educations, and their hopes and dreams. That is a sacred trust. They are trusting the banks to be good stewards- to be care takers.

Some have said that this proves it is time to break up the banks. Others think that is folly. The CEO of Wells Fargo, John Stumpf, says that this was just the work of some bad apples and that the executives above them couldn’t have known what was going on. If the store is too big for you to mind, perhaps the store shouldn’t be so big? If you have proven to be such a poor steward, then perhaps you have outgrown your capabilities and we should make sure that you are not entrusted with such a large store anymore.

Or perhaps the rottenest apple simply hasn’t been cast out. When you foster a culture where criminal activity has a nickname of “sandbagging”, when customers are seen as marks and not as someone to serve, then the rotten apples aren’t the ones on the bottom. You, Mr. Stumpf, are the rottenest apple, and the worst steward. Your continued leadership of Wells Fargo stains the reputation of the rest of the divisions and hard working people that I have met from the Wells Fargo organization.

It is my sincere hope that the shareholders will demand your resignation immediately, and root out any of the executives who shared your philosophy. I hope fellow executives take a stand and refuse to work under your brand of “leadership”. I hope that they create an atmosphere of honesty at Wells Fargo for the benefit of all the customers, big and small, and for all Wells Fargo employees.

Breaking Banks has a mission to highlight the changes that technology can make for the financial system to the benefit of everyone. Fintechs, and innovation divisions within banks, have been looking at ways to make our money systems more innovative, to provide better, cleaner, faster, cheaper and transparent services for consumers. All of that would be wasted if Fintechs and banks do not foster cultures steeped in basic honesty.

A phrase often bandied about at Harvard Business School (and I am sure all the rest) is that “ Watch your thoughts, for thoughts lead to actions, actions lead to habits, habits lead to character, and character leads to destiny.” If you can’t incentivize honesty, service, and aid customers in creating better destinies, then I hope you won’t be in the financial services industry- either working for a bank or a fintech. Hell- I don’t even want you as a bookie in Vegas.