Timed to affect the election in NC, eh?
In Reno most bank branches are completely closed, leaving only ATM access to banking services. Not surprised to see tens of thousands of people laid off.
Wells Fargo....Which, according to Clark Howard, is a criminal enterprise operating as a bank
>>The time of a full service, walk-in bank is over.<<
That was over 10 years ago, no one bothered to tell the walking corpse.
Once the cuts are made, FOX 46 is told Wells Fargo will hold a town hall Wednesday to help rally the troops.
Digital currency will obviate the need for tellers, vaults and many of banks’ personal services, which can be done over the net.
/sarcasm on/Yeah that is the ticket./sarcasm off/
as it restructures away from a retail bank.
Wells Fargo dug itself into a massive hole by incompetence and corruption. People don’t forget that.
If they opened the lobby of their local branches it might help them, and me.
Doing business through the drive-thru is a PIA.
I have gone into a bank or credit union a whole three times this year.
No wonder we can’t reach our banker.
The death of retail banking is grossly exaggerated and repeated.
The Banks would LOVE to eliminate people and their overhead. But systems don’t MAKE money, good people do.
Truth be told, WFC has been one of the BEST run big banks, along with USB. The real crooks were/are JPM, C, BAC. The leadership of WFC showed outward signs of being “politically conservative”, therefore they got investigated and fined for a variety of “abuses”. One such was opening excessive retail accounts, a practice that was done by EVERYONE at the time.
Check out the stock charts of all the banks I mentioned and you’ll see that the two I mentioned by far have performed the best since 2007, and the reason why they recovered, instead of being still down 90% like C, was that they actually ran a pretty good bank.
It’s been 11 years since banking/financials blew up. It was 13 years to recover the Tech wreck from dotcom/y2k.
I’d have to think that banking environment looks attractive for the next several years as interest rates are low and economic activity will soon be booming post covid.
WFC right now may perhaps be signaling to Trump, we need some support NOW. We all know who’s in the way. Pelosi.
Our bank in MA hasn’t allowed walk in traffic for months. TD Bank paid a lot for the real estate and building in my town. It is a very lucrative branch.
It could now be run out of a container box on cinder blocks. The ATM and call center is where it is happening now.
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.
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.
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.
Chase is doing the opposite.