Wells Fargo bank fraud

nodle

Cheesemonger
Administrator
Well I am sure by now everyone has seen lately how they were illegally opening false accounts to make bonuses etc. Now this:

The Justice Department said the illegal repossessions took place from 2008 to 2015. The first complaint came from an Army National Guardsman in North Carolina who said the bank seized his car while he was preparing to deploy to Afghanistan.

Wells Fargo then auctioned his car and tried to collect a balance of $10,000 from his family, the Justice Department said.
Watch the video and watch how the CEO is questioned about dumping stock right before all this bad stuff. I love how all the people grill him. Someone should be held accountable. The CEOs in Japan are. Wells Fargo is horrible. We use to bank with them for years, and had two house loans through them etc. After the last dilemma with them in selling our house (which we lost thousands of dollars thanks to them). We cancelled all of our accounts with them, and transferred all of our money away from them.
 
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jmanz

I bought you the sims
Members
Very bad mess for them. I am not surprised. I have heard from a few former employees that said the pressure to sell constantly was ridiculous. They hated working there because of it.
 

nodle

Cheesemonger
Administrator
Very bad mess for them. I am not surprised. I have heard from a few former employees that said the pressure to sell constantly was ridiculous. They hated working there because of it.
@jjl can account to that. But I just looked at their stock and it's up a little WTF?
 

C Pav

Codename: GB6
Members
 

Davidc

Caulk Sucker
Members
Wells Fargo Forced Unwanted Auto Insurance On 800,000 Borrowers
It gets better: the expense on the unneeded insurance (which covered collision damage) has pushed some 274,000 Wells Fargo customers into delinquency and resulted in almost 25,000 wrongful vehicle repossessions. And the cherry on top: "among the Wells Fargo customers hurt by the practice were military service members on active duty."
http://www.zerohedge.com/news/2017-07-27/wells-fargo-busted-forcing-unwanted-auto-insurance-800000-borrowers
 

nodle

Cheesemonger
Administrator
What a bunch of crooks. 
Basically the company forced them to do this. I think they got bonuses, and meet their goals by doing this. If the company wasn't a Best Buy of the bank world (push your warranties or get written up) then the employees wouldn't had a need to do this. The average Joe was just trying to make a living and keep his job.
 
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