Wells Fargo

Lies, damned lies, and statistics.
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Skeeve
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Re: Wells Fargo

Post by Skeeve » Tue Nov 14, 2017 10:42 pm

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Re: Wells Fargo

Post by Rob Lister » Tue Nov 14, 2017 11:20 pm

Fines. go figure.

Somebody there is culpable. Or are they?

It's good to be rich.

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Re: Wells Fargo

Post by Anaxagoras » Tue Nov 14, 2017 11:40 pm

$3.5 million. That's tiny for Wells Fargo.

Wells Fargo proper once paid a $5.35 billion dollar fine. So this is less than a thousandth of that.

http://www.businessinsider.com/the-bigg ... ime-2017-4

Wiki sez:
Wells Fargo Advisors is a subsidiary of Wells Fargo, located in St. Louis, Missouri. It is the ninth largest brokerage firm in the United States as of August 17, 2017 with $490 billion retail client assets under management.[1]
3.5 sticks is probably less than some of them make in their bonuses.
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Re: Wells Fargo

Post by Skeeve » Wed Nov 15, 2017 6:05 pm

Rob Lister wrote:Fines. go figure.

Somebody there is culpable. Or are they?

It's good to be rich.
What was it Luke T said?
I think it was something like: "Pay a fine and suck a yard of SEC cock!"
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Re: Wells Fargo

Post by gnome » Wed Nov 15, 2017 6:08 pm

They probably have whole teams dedicated to ensuring that any criminal actions can't be attached to any individual :P
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Re: Wells Fargo

Post by Skeeve » Sat May 12, 2018 1:37 pm

So, what is new with these lying ho's?



Has anyone else noticed this?
Lately I can hardly watch a show on the internet without having to sit through some of these.
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Re: Wells Fargo

Post by gnome » Sat May 12, 2018 1:54 pm

It's a little too soon to be talking about "trust".

"Under New Management" would probably be a more successful line.
"If fighting is sure to result in victory, then you must fight! Sun Tzu said that, and I'd say he knows a little bit more about fighting than you do, pal, because he invented it, and then he perfected it so that no living man could best him in the ring of honor. Then, he used his fight money to buy two of every animal on earth, and then he herded them onto a boat, and then he beat the crap out of every single one. And from that day forward any time a bunch of animals are together in one place it's called a zoo! (Beat) Unless it's a farm!"
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Re: Wells Fargo

Post by Skeeve » Sat May 12, 2018 5:52 pm

gnome wrote:It's a little too soon to be talking about "trust".

"Under New Management" would probably be a more successful line.
Guess the "old management" is still in line to suck that yard of SEC cock....oh well.

while the new management says "trust me."

....I am so reminded of an old joke...

The punchline went "...Honey, if you suck on my cock, I promise I won't cum in your mouth...."
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Re: Wells Fargo

Post by Rob Lister » Sat May 12, 2018 6:09 pm

I'm not sure how they're not in jail.

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Re: Wells Fargo

Post by Skeeve » Sat May 12, 2018 6:42 pm

Rob Lister wrote:I'm not sure how they're not in jail.
No female employees have come forward with a #metoo complaint yet?

Why It’s Unlikely Anyone Will Go to Jail Over Wells Fargo’s Massive Fraud Scheme
...
It’s worth asking: Will anyone go to jail for this? The fine, after all, makes for a good headline but is actually something of a pittance: $185 million is just 3.3 percent of the $5.6 billion in net income Wells Fargo pulled in in the second quarter of this year. And whatever monetary penalties were assessed, there’s a strong case to be made, here as anywhere else, that individuals who engage in fraud should, well, be prosecuted for committing fraud. That’s sort of the point of the legal system.

The depressing answer is that it’s quite unlikely anyone will face criminal sanctions for Wells Fargo’s scheme. While the CFPB has left that door open, the Department of Justice is very unlikely, if recent history is any guide, to walk through it. (The DoJ is the agency that matters here, since the CPFD itself doesn’t have the power to launch criminal investigations, but can refer its cases to the DoJ for further investigation and potential prosecution.)
This article was time stamped " September 9, 2016 2:47 pm "
So who was in charge back then...oh yea, Barry (no balls) Obama....
Wasn't he the same guy that let other bankstas' off the hook back in '08 and '09?
Or was that dubya...or both?
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Re: Wells Fargo

Post by sparks » Sat May 12, 2018 9:10 pm

Fuck those assholes and all the others involved in the housing bubble debacle. We will not get justice from authority because they're in it deep too. Only way is to get ed to go and kill them all.

ed?
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Re: Wells Fargo

Post by Skeeve » Sun May 13, 2018 1:03 pm

Wells Fargo says it mistakenly kept fire and police pension fund fee rebates
Wells Fargo admits it collected fee rebates that should have been given to a public pension fund.
It says the inappropriate collection was the result of a system set-up error and that the $15,000 in fees were returned.
The Wall Street Journal says the board of the fire and police pension fund in Chattanooga, Tennessee, fired the bank as trustee.
Wells Fargo: Earning Back Your Trust
:doglaugh:
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Re: Wells Fargo

Post by sparks » Sun May 13, 2018 7:06 pm

I specially like the "holding ourselves accountable" bit.

If they'd all done that from the beginning, there'd have been no troubles in the first place. Goddamned lying cocksuckers. March 'em into the sea. Every last one of them.
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Re: Wells Fargo

Post by Skeeve » Tue May 15, 2018 7:27 pm

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Re: Wells Fargo

Post by Skeeve » Thu May 17, 2018 1:31 am

Wells Fargo: Toxic leadership
One would think that any bank would drool over adding a potential new customer the size of Seattle that runs $3 billion annually through its books and carries an average daily balance of $10 million.

But no new bank wanted to be exposed to the apparent toxicity associated with this leadership group.

In retrospect, it wasn’t surprising that Wells Fargo allowed the city to terminate its agreement early hoping it, too, could escape this business relationship.

What is surprising is that Wells Fargo came back to the table and renewed for multiple years. Perhaps it felt its reputation couldn’t sink any further.
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Re: Wells Fargo

Post by Abdul Alhazred » Thu May 17, 2018 9:33 am

Relying on political connections to get big customers is not necessarily a losing business strategy.
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Re: Wells Fargo

Post by Skeeve » Fri May 18, 2018 6:21 pm

Wells Fargo altered documents about business clients
Wells Fargo recently discovered that some workers altered documents about business customers, raising new concerns about the embattled bank's internal system of checks-and-balances.

The improper activity took place in 2017 and early 2018 and was brought to light by multiple Wells Fargo (WFC) employees who alerted management, a person familiar with the matter told CNNMoney.
...
Wells Fargo has been trying -- and largely failing -- to turn the page on a series of scandals that have rocked the bank for the past 20 months and led to unprecedented sanctions.

News of the document altering, first reported by The Wall Street Journal, drove Wells Fargo shares down nearly 2%.
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Re: Wells Fargo

Post by Skeeve » Fri Jul 27, 2018 7:40 pm

Guess who is back in the news.
This Is the Bank with the Worst Reputation in America.
Managing your finances can be stressful, but typically, you trust that your bank can help you do things like setting up the right savings account and providing good customer service when you have questions about your account. That is, of course, if you have a good bank.

However, to be a good bank for their customers, banks need to have other assets, including a good reputation. And unfortunately for one bank, it's ranked at the bottom of a list of the 100 most reputable companies in the country. Wells Fargo & Company was ranked as the bank with the worst reputation in America, according to the 2018 Harris Poll Reputation Quotient Rankings. The company ranks at number 97 and has a reputation quotient (RQ) of 57.78 out of a maximum score of 100. Here's how to choose the right bank for your needs, according to a money expert.

...
The poll asked study participants to list companies they believed had good or bad reputations. These companies were then ranked based on “six dimensions of corporate reputation.” ... A score of 80 and above is excellent; 70-74 is good; 55-64 is poor; below 50 is critical. Another bank with a dismal reputation ranking is Bank of America. It ranked at number 85 and had a "poor" score of 64.94.
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