My accounts got jacked around to the point of causing problems.
We needed a good man to swagger in and put things right.
Posted on 10/27/2020 7:08:32 AM PDT by Rebelbase
CHARLOTTE, N.C. (FOX 46 CHARLOTTE)- Charlotte could be facing a big blow to the banking industry. Wells Fargo is expected to announce major layoffs across the board on Tuesday.
Thousands across the entire company could get the pink slip and bank insiders tell WJZY that many of those cuts will happen in the Queen City.
More than 27,000 people in the Charlotte area work for Wells Fargo. It’s the city’s second largest employer.
In July, the bank’s chief executive said it may need to cut expenses by more than $10 billion as it restructures away from a retail bank.
(Excerpt) Read more at myfox8.com ...
Probably has more to do with mortgages not performing. Even if the lock-down ends on Nov. 4 (doubtful) we’ll be paying the piper for the economic wreckage caused by a relative handful of democrat governors plus Nancy Pelosi.
I hope I live long enough to see Wells collapse.
WF blew it a few years ago in their contact centers. I used to manage call centers for a similar sized bank. I saw what they did, and I could tell you how and why it happened.
WE were one of the “best run banks in America” as well. We had every “sale” in our contact center double checked through our Operations department. It was expensive, but it saved us similar headaches. And we could stop “shenanigans” pretty quickly.
The cost for a face to face contact was about $8.00 in 2003. I can only imagine the price has dropped significantly since then. A contact center contact was about $3.50. An ATM/Voice Unit contact was about $0.25. A web site contact was $0.15.
Where do you think every retail bank in the world is driving their clients?
This is just an opportunity to do that.
Being the LGBTQ-friendly San Francisco bank, I’ll bet they were heavy into pressuring North Carolina on transgender bathrooms, etc. So, now that they’ve done their damage, is it “get woke, go broke”? I hope so.
BTW, my small bank got bought up by Wells Fargo back in the 1990s so I left them and switched banks. That’s why I know so much about their politics.
During the Covid shutdown their lobbies were closed. We got along pretty well without having to go into the bank due to on line banking, drive up window, My concern is my safe deposit boxes.
Buy a home safe.
Wells Fargo is my bank and I have no complaints.
I still walk into my local bank to deposit checks in person. The few tellers that are still there seem happy to have something to do.
“Wells Fargo is my bank and I have no complaints.”
Same here. Never faced any pressure to open additional accounts, take out unnecessary loans, etc. When the WF “scandal” hit the media, I wondered what the fuss was about. WF has closed a couple of branches in town (so has every other major bank), but it still has a busy one about a mile away. In any case, we very rarely have reason to go inside the bank.
My sister has been a teller for years in rural PA. I am always amazed as to how many of her customers do everything in person at the bank. I have been in IT for years and I believe there are a large number of people in the older generations who do not have or use the internet. Plus many in rural areas of the US do not have good capability for accessing the internet.
My accounts got jacked around to the point of causing problems.
We needed a good man to swagger in and put things right.
Chase is doing the opposite.
I worked for the bank during the scandal years, I can tell you a couple of things. Nobody ever directed anyone to cheat that I ever saw, there were a lot more people than not that did the right thing, and I absoultely saw bad behavior where direct managers and their bosses looked the other way. It was extremely high pressure but that is never an excuse if you have strong morals.
Thanks for an insider’s perspective.
Just curious: what happened to your accounts?
A processing center for the bank of china?
“Wells Fargo....Which, according to Clark Howard, is a criminal enterprise operating as a bank”
yep, Wells Fargo is the nuevo Merrill Lynch
and, i was just thinking that the massive layoffs won’t touch any of the Wells Fargo master-mind criminals
MILLIONS of us will NEVER DO THAT.
Before covid-19, WF tellers in our oil patch city were busy with walk-ups cashing paychecks. They require a fingerprint for non-customers and most waiting couldn't speak English and so all the tellers are bilingual.
I opened a couple small accounts just to have ATM access, also just to keep 20k or so out of my mitts.
The US bank I went to had kids behind the teller windows, after-school types, and the whole place had an odd careless atmosphere...so I took my loot across the street to Wells.
It didn't happened right away but a year or so in the (again) kids behind the counter started urging me to consider another account. Savings, checking AND a CD or two. I said no for a month or two, then one day I caved and asked, "Do you receive an incentive for these extra accounts?
The young fellow said yes, and I knew his name and all by then, so I said, look go ahead, take X amount out of existing savings, and put it in a second savings account...this was the kind of thing he got rewarded for.
There wasn't much to go wrong, and I told him no more of this, no more selling, all right?
I should point out that I worked as a bank teller for some years in the summers, and had some affinity for the kid.
But what he did was to transfer the money out of the wrong account, out of checking and into another savings account, and I had some auto-pay arrangements for heat, electricity, etc.,out of my checking account.
The payments came and bounced while I was traveling, leaving my house cold and my credit dinged some, dammit.
And it took some wrangling with the Wells Fargo people to straighten it out.
Yes, I acknowledge that I brought this on myself, but I DO remember just about exactly when the sales push began.
This was in a tiny town and involved only my puny accounts, but I couldn't help but shake my head when the news stories about WF cropped up.
I should say too that the market president of that bank up and quit not long after I had my little tangle sorted out.
I knew her from the gym and asked her what was up but she said she couldn't talk about it.
I always figured that she was being pressed to do the same hard-sell crap. Going from bank president to aerobics instructor in a week's time can't be fun.
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