Posted on 09/20/2016 11:07:57 AM PDT by um1990
Any take-down of Wells Fargo is good to see. They cost me over $100K this year, which will likely cost me as much to recover. While I don’t like Warren, she was very effective grilling the Wells Fargo CEO. Now, will she address Obama, the Clintons, and the Clinton Foundation with the same vigor?
“But, alas, it has no actual meaning. Thanks, Harvard law professor.”
She knows this, obviously. She also knows that her idiot millenial fans probably don’t know this or don’t care. They just see her “sticking it to the big bankers” and start clapping like trained seals. Pure grandstanding.
I don't understand how this happens. Did they not notice the additional fees?
Those fees had to come out of accounts that actually had money. Depending on the type of account, a minimum amount was required to open the account.
We notice unusual charges immediately. Doesn't anyone reconcile accounts anymore?
Don't get me wrong -- I'm not blaming the customers for this theft. But, I'm surprised at how far it spread before it was exposed.
I've been a Wells Fargo customer for decades. I've never noticed anything shady like this. But, maybe they noticed that I log in to the bank website on a regular basis.
Yes, I stay away from the big collective farm banks like Wells Fargo, Chase, Citi and all the rest. I’ll stick with the mid-size regional banks. They aren’t perfect but they are far better.
However, Liawatha speak with forked tongue. She make heap big stink over wampum boss, but she take much wampum herself. She take away our thundersticks too.
Yeah, remember when she grilled Lois Lerner and Illery about what actions they took to “accept responsibility” for IRS targeting and Benghazi?
Me neither...
“There, there sweetie. You seem all worked up and emotional. I mean, you seem to be on the warpath today. I know you need to get ‘em scalps to further your career, but I was hoping for a more civil exchange today.”
How did Wells Fargo cost you $100K? Just curious.
Elizabeth Warren couldn’t take down a blind cowboy with a supersonic bow and arrow.
I am getting very sour. I say just shoot them both.
And that's a crime.
Shouldn't she instead be demanding the prosecution of everyone involved?
Didn’t they just conduct their convention at the Wells Fargo Center in Philly?
Blind pig/acorn, stopped clock, etc etc
No sympathy for WF. An acquaintance of mine on another forum was connected to an IRS audit group for a while, that was investigating WF. WF was known for, and had been called on the carpet for, all kinds of shenanigans like this for years, yet never received any meaningful punishment.
They were known for things like jiggering the order that customer expenditures were processed, so if the customer was close to their minimum balance, WF would hold a bunch of small debits for days, then when a big one hit, they’d process the big one first to drive the account below minimum, then process all the small ones so they could charge the min-balance (and often overdraft) fees for each debit that went in under the line. Had they processed FIFO, the customer might only suffer one or two; instead the customer might face 15 or 20.
I don’t like Warren and think she ought to be barred from politics forever, but Wells Fargo deserves everything they’re suffering and then some.
A 10 billion fine would be fine with me.
There is a lesson here for senior management in EVERY industry.
The moment you take the wraps off of any bonus incentive plan for your employees, a number of them are immediately going to devote their full time and energy into figuring out ways to game it.
Have seen it happen in many, many industries.
One thing you can ALWAYS count on is that the “critical faculty” of people like Warren only gets switched to the “ON” position when they’re attacking their agreed-upon enemies of the moment.The WF CEO of course deserves to be attacked,but let’s hear if from CNBC, not Fauxcahantas.
Agreed! Wells Fargo has been like a “bad penney” our whole married life. Every time we’ve changed banks to rid ourselves of them, they’ve bought the new institution. But with this latest disgusting display, I guess it’s time to try again.
She may be trying to get noticed in case Hillary doesn’t pan out.
Thank you for that clarity.
Between Fauxcahontas and the banker, I’ll take the banker. And what the bank (or at least its employees) did was unacceptable and wrong.
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