The only way Wells Fargo repairs it reputation with clients is to change their name or sell to a reputable company.
They’re uncovering more wrong doings, and their stock is dropping. Next problem will be the stockholders.
Jack, they run their operations like a bunch of elitists ripping off their customers. If you have Wells Fargo stock, sell before it goes completely away.
This is even more despicable than their original fake checking account fiasco. It truly beggars belief that they actually repossessed innocent peoples’ vehicles! How is this only now coming to light? This is absolutely scandalous. Could you imagine paying your car note on time every month, then having Wells Fargo come in and repossess your vehicle? Add to the fact that this potentially happened to hundreds, even thousands of individuals!
When banks get so big they are untouchable, they start doing stuff like this. Bank of America got slammed with a multiple hundred million dollar lawsuit a few years back for deliberately ordering the processing of debits and credits on peoples’ accounts so that they would end up with overdraft fees. Hell, I saw my own bank do that and they wouldn’t correct it until I called them out on it and threatened to go to the news and the internet with it.
They lost me as a customer with a checking account, personal loan, and credit cards because they refused to credit me back a $36 dollar overdraft fee they tried to scam out of me until I threatened to cry foul.
Now, I am with a credit union and it is night and day: longer hours, open Saturdays, free checking, same-day fund availability on all check deposits, refunded ATM fees, a 5% interest rate on the first $2,000 in my checking account. 3% on another account with no limit. I have a loan through them, a credit card, and an auto loan.
Why don’t banks operate like this? Because they are beholden to their stockholders to maximize profit, even in the face of good taste, while credit unions are beholden to their members.
In addition to the company being as greedy as it can possibly be, this also indicates that the company has no regard for its employees and their opinion of their company. I’ve worked in companies that are too focused on the bottom line to understand that employee turnover is more expensive and less productive in the long run. Happy, self-fulfilled employees make for a productive atmosphere that generates results. When you put people up against the wall and tell them it’s sales or their jobs, they will find a way around the system and start looking for employment elsewhere. Then dishonest people rise to the top, with company recognition, and then create larger and more perplexing company issues. The end results are what we are witnessing today with Hells Fargo. People are not pawns; they are the future of your over-sized corporate paycheck.
The only way Wells Fargo repairs it reputation with clients is to change their name or sell to a reputable company.
They’re uncovering more wrong doings, and their stock is dropping. Next problem will be the stockholders.
Jack, they run their operations like a bunch of elitists ripping off their customers. If you have Wells Fargo stock, sell before it goes completely away.
NOW they’re questioning if their practices financially hurt their customers?
This is even more despicable than their original fake checking account fiasco. It truly beggars belief that they actually repossessed innocent peoples’ vehicles! How is this only now coming to light? This is absolutely scandalous. Could you imagine paying your car note on time every month, then having Wells Fargo come in and repossess your vehicle? Add to the fact that this potentially happened to hundreds, even thousands of individuals!
When banks get so big they are untouchable, they start doing stuff like this. Bank of America got slammed with a multiple hundred million dollar lawsuit a few years back for deliberately ordering the processing of debits and credits on peoples’ accounts so that they would end up with overdraft fees. Hell, I saw my own bank do that and they wouldn’t correct it until I called them out on it and threatened to go to the news and the internet with it.
They lost me as a customer with a checking account, personal loan, and credit cards because they refused to credit me back a $36 dollar overdraft fee they tried to scam out of me until I threatened to cry foul.
Now, I am with a credit union and it is night and day: longer hours, open Saturdays, free checking, same-day fund availability on all check deposits, refunded ATM fees, a 5% interest rate on the first $2,000 in my checking account. 3% on another account with no limit. I have a loan through them, a credit card, and an auto loan.
Why don’t banks operate like this? Because they are beholden to their stockholders to maximize profit, even in the face of good taste, while credit unions are beholden to their members.
In addition to the company being as greedy as it can possibly be, this also indicates that the company has no regard for its employees and their opinion of their company. I’ve worked in companies that are too focused on the bottom line to understand that employee turnover is more expensive and less productive in the long run. Happy, self-fulfilled employees make for a productive atmosphere that generates results. When you put people up against the wall and tell them it’s sales or their jobs, they will find a way around the system and start looking for employment elsewhere. Then dishonest people rise to the top, with company recognition, and then create larger and more perplexing company issues. The end results are what we are witnessing today with Hells Fargo. People are not pawns; they are the future of your over-sized corporate paycheck.
Couldn’t have been said better myself re: turnover and forcing the bad actors to the top.
I worked in companies like that before and refused to put up with shenanigans like that, so I quit.
The company lost its way years ago.