Posted on 09/08/2016 1:14:35 PM PDT by Red Badger
Edited on 09/08/2016 1:41:02 PM PDT by Admin Moderator. [history]
In New Soviet Union States, Wells Fargo ROBS YOU!..............
So much for federal oversight. That proved worthless.
Jailable offense!
That’s why I still balance both of our checkbooks the old fashioned way...comparing checks and atm transaction receipts to the statement. I also go over the charge card statement with a fine tooth comb.
Luck. I was less than impressed with First Union. Hopefully WF treats their customers better.
I suspect the pressure was so onerous many were just trying to save their jobs. Just my feeling from the way they attack you when you walk in or go to the counter.
First Union was well-known for treating customers poorly. Management ran even that poor reputation into the ground, so they bought Wachovia for the name and reputation, ran that into the ground too. Wachovia was a very conservatively run, sound financial institution prior. They weren’t known as a bank for people just starting out, though. Better for people with substantial deposits.
This is interesting that this story came out, I’ve got a co-worker who was telling me that he dumped his Wells Fargo accounts because he was constantly being hit with fees that they couldn’t/wouldn’t explain. They always said they’d reverse the fee but rarely did. He got sick of it and bailed.
I’ve got another co-worker that told me that the two times that he ever attempted to get a car loan through WF, they just treated him like a total vagabond. Mind you, this is a guy who makes $90,000/year, has a credit score over 700, and whose only debt is his house payment that he easily makes every month. The conclusion that I drew is that WF is just not a well-run bank at all. With this story coming out, I’m really not surprised.
They’ve been fined $190 million dollars. People should also go to prison. Just mho.
Same here, our name
Not sure about WF, but my CU started charging me $2 a month for snail mail statements. I switched to online statements and have missed downloading statements every now and then. Some people maybe so far in debt, they don't even want to look at their statements..
I have a co-worker that was telling me that the two times that he tried to get a car loan through WF, they just treated him like a total vagabond. This is a guy who makes $90,000/year, has a credit score over 700, and his only debt is his house payment that he makes easily every month. I don’t think he’s BSing me. The banks that he did get his loans from (one car for him, one for his wife, not at the same time) were happy to have him, so I don’t think he was going in there with a crappy record and horridly maxed on credit cards.
I may have been a victim of this. Our mortgage is with Wells, so when we did a refi-in-place a couple years ago to lower the rate, they offered us a free checking account. No problem, sounds like a good idea, and we needed one so we took it. Then a month or two later there’s a service charge debited to the account. I go in and raise hell about it, thinking they lied about the “free” account, only to find they’d also opened a savings account that I didn’t request, without asking. At least they closed it when I told them to do so.
Some banks seem happier with customers who generate fees, overdrafts, late fees, etc. than those who don’t carry a credit card balance and pay their bills on time.
Ours passed each other, we were getting nickel and dimed on my husbands money market account so we closed it. Then a couple of years later we started getting notices for a credit card account that was past due with fees and penalities.
We need to enforce Clayton, Sherman and Glass-Stegall on the too-big-to-fail banks again. Give them a chance to break up. If they refuse, tell them to set up their own depositor insurance because FDIC/FSLIC are going to be limited only to regional and local banks.
I have noticed that local banks in our area are firing people who do not sell x amount of products (accounts, credit cards etc.). These people were probably afraid for their jobs.
I saw a local bank fire a dynamic young woman simply because her sales numbers were down. SHE WAS A TELLER.
Wells Fraudo “Together we go Fraud.”
Might be a good time for law students to think about specializing in antitrust law: media and banking.
It's ALWAYS the same.
They'll be fined and sign a plea deal of "no wrongdoing"... then move on to the next scam - rinse and repeat.
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