The only bank worse than Wells Fargo is every other one.
I remember reading that WF didn’t have nearly as much involvement in the prime mortgage fiasco and I was impressed. But I’ve come to realize that while all of the other banks made billions WF sat out not because they saw the coming disaster but because they were incompetent.
hP wants every corporation to fail and give their products away for free
I have never had reason to think about Wells Fargo. Never done business with them.
I did have vague recollection of something unsavory from a few years ago, but this was buried back in my mind. Why would I care?
And then a few days ago I heard a radio ad for Wells Fargo which basically said, “We’ve reinvented ourselves. We’re not as sleazy as we used to be. We know we abused your trust and stole your money, but that won’t happen again. Really. Trust us.”
And I thought: “Stay the hell away from those guys!”
Wells Fargo has ALWAYS been one of those companies that preys on people. I liken them to ... title loan companies. They really, really suck. And I’m SURE that Obama got a payoff that allowed them to survive the 2009 debacle.
“Wells Fargo is even scamming rich people now, according to recent Yahoo Finance reporting, by intentionally steering high-net-worth clients into unnecessary products with high fees.”
Pretty much what every bank does. Rich people generally know better. That’s why they’re rich. Caveat emptor, baby.
I don’t know WF has helped me out massively no problems at all. Now BOA I Ieft them to go the WF
WF bought the bank that I was using in ‘88. Been with WF since then. Been two or three instances where I needed temporary help and they were there. Can’t say anything bad about ‘em. And yes I’m aware of all the scandals and WF ads trying to remake their image.
They ripped us off several years ago, retracted a promise they made about returning funds. I then pulled every penny from my accounts and went across the road and opened up an account at the local competing credit union.
WF still owes me over 12K.
Whenever Wells Fargo is mentioned, a certain song from The Music Man pops into my head.
If Huffpo says Wells Fargo is bad, that’s all the evidence I need that they are not.
The Left has been out to smear Wells Fargo ever since Wells Fargo broke with Bank of America and Citibank in acting as surrogate gun grabbers. Wells Fargo said they weren’t going to do that and instead were going to focus on - make sure you are sitting down before reading this - banking rather than pushing a political agenda.
Then so are all other BIG banks....Citi BofA etc etc
I have been with WF for 30 years and have received nothing but STELLAR service and exact accuracy.
Their online banking is the best in the business too.
ping
I only got a WF account when they purchased my mortgage.
Competent service. Nothing spectacular, good or bad. But I won’t open another account with them if I can help it.
Wachovia was a much better bank.
Sadly, they got absorbed by WF
I saw a tv commercial this week from Wells Fargo that basically said to trust them.
They told a story of how a wells Fargo stagecoach driver hid the gold in another box so when it got robbed the robbers just got rocks. (Wells Fargo is the real robbers of their customers money)
In the real world Wells Fargo created millions of fee-bearing bank accounts in clients’ names without their knowledge and foreclosed on homes that were not suppose to and they are churning the customers 401k and stock accounts since at least 2009 along with VA loan churning.
Search: “The ‘churning’ is the act of being able to take the individual’s VA mortgage, repeatedly refinance it and putting fees on top of fees”
Here they stole from a 93 year old.
http://www.investmentnews.com/article/20170214/FREE/170219957/finra-bars-former-wells-fargo-rep-for-churning-accounts-of-93-year
How they stole from 81 year old
https://www.charlotteobserver.com/news/business/banking/bank-watch-blog/article106202687.html
If the Huffington Post thinks Wells Fargo is bad, then Wells Fargo must be good.
For the record, the first transcontinental mail contract for The Overland Mail was known as the Butterfield trail. It ran from Memphis across Arkansas and Oklahoma, then 900 miles across Texas, then New Mexico and Arizona and up the Valley to San francisco and the home of Wells Fargo. The California sections followed existing Wells Fargo established stage routes. The trail ran on a southerly route to avoid snow. The mail took 21 days, guranteed.
The Contractor was a Mr Butterfield operating out of New York. His company was called American Express.
Following the Butterfield Trail is a fantastic trip and journey through literal American history
When I became a Realtor I learned more and more about certain banks, especially when working with them on home loans, Wells Fargo, one of the worst, too many ridulousl stories to tell. Eventually would not sell a home to a buyer that insisted on using Wells Fargo, I would walk away.
Last year, after they got caught setting up all the fake accounts, I noticed we had stock in the company, our broker had bought. I called him and told him, come on man I don't want to have anything to do with that bank, if I would not sell a house to someone using them, why in hell would I want to own the company, long pause, I will sell it.
At one point, after all the mergers and stuff, I took out an auto loan with WF: $3,000, and I paid it off early. Oops, they said they lost the title to my car...and refused to pay the title replacement fee. After several weeks of insisting, I did get an official letter from then saying that they had lost the title, and quitclaim the lien on the vehicle. DMV gave me zero hassle about issuing a new clean title, given I had that letter.
I moved all my personal accounts to another bank.
The wealth fund is still with Wells Fargo Advisers, managed by the broker that originally set up the account with my parents. I examine the annual summaries very, very closely; so far, I've not seen any churn in my stock holdings. Moreover, the value of the portfolio has gone up as the stock market lifted. I've still not received a good answer from a potential new broker about how much moving my portfolio would cost; my tax adviser warned me that I could take a fairly good-sized haircut on the transfer. So I sit and watch carefully.
I also watch my credit reports to see if anything new had been added. So far, I've been lucky.