TimmySmith 2,782 Posted September 9, 2016 Holy crap how is this company going to stay in business? Fraud and identity theft. http://money.cnn.com/2016/09/08/investing/wells-fargo-created-phony-accounts-bank-fees/ I can't wait to see how sweet old Warren Buffett reacts to this one. Share this post Link to post Share on other sites
edjr 5,547 Posted September 9, 2016 does that mean I don't have to pay? (kidding, i have no debt, I'm a member of the geek club) Share this post Link to post Share on other sites
IGotWorms 3,302 Posted September 9, 2016 Well shoot these guys do my mortgage and nothing else. (Sorry Geeks, I do in fact have a mortgage because I'm poor ). So I can't get rid of them Share this post Link to post Share on other sites
frank 2,144 Posted September 9, 2016 Well, we've never done this before. But seeing as it's special circumstances and all, he says I can knock a hundred dollars off that Trucoat. Share this post Link to post Share on other sites
Hardcore troubadour 12,593 Posted September 9, 2016 They'll pay a fine, fire some nobody's. It's all good. Remember when Obama said he was going after the banks? Ha! What a sucker I was. And you can bet your last dollar that they donated to him amd every other money grubbing leech out there. Maybe gave a few jobs to some congressional staffers or relatives. 1 Share this post Link to post Share on other sites
TimmySmith 2,782 Posted September 9, 2016 Well shoot these guys do my mortgage and nothing else. (Sorry Geeks, I do in fact have a mortgage because I'm poor ). So I can't get rid of them I don't know how often you check your credit report, but you may want to see if they opened any credit cards under your name. Share this post Link to post Share on other sites
IGotWorms 3,302 Posted September 9, 2016 I don't know how often you check your credit report, but you may want to see if they opened any credit cards under your name. No I'm pretty on top of that Share this post Link to post Share on other sites
TheNewGirl 1,020 Posted September 9, 2016 This has been going on since 2013, yesterday was the day the settlement was determined. Share this post Link to post Share on other sites
Hardcore troubadour 12,593 Posted September 9, 2016 Obummer! Uh, yeah. Share this post Link to post Share on other sites
MTSkiBum 1,593 Posted September 9, 2016 Just because I was curious I wanted to see how Wells Fargo contributes to the political parties. In the last presidential election cycle they donated twice as much to Romney as Obama. And lose to 3 times the amount on Republicans as Democrats in 2012. https://www.opensecrets.org/orgs/summary.php?id=D000019743&cycle=2012 This shows a graph of their donations, and they used to donate pretty closely between the two parties, but they seem to have gotten more partisan over the last 10 years. https://www.opensecrets.org/orgs/totals.php?id=D000019743&cycle=2012 Share this post Link to post Share on other sites
TimmySmith 2,782 Posted September 9, 2016 Just because I was curious I wanted to see how Wells Fargo contributes to the political parties. In the last presidential election cycle they donated twice as much to Romney as Obama. And lose to 3 times the amount on Republicans as Democrats in 2012. https://www.opensecrets.org/orgs/summary.php?id=D000019743&cycle=2012 This shows a graph of their donations, and they used to donate pretty closely between the two parties, but they seem to have gotten more partisan over the last 10 years. https://www.opensecrets.org/orgs/totals.php?id=D000019743&cycle=2012 Nothing to Trump and $250K to Hillary. Share this post Link to post Share on other sites
MTSkiBum 1,593 Posted September 9, 2016 Nothing to Trump and $250K to Hillary. I would imagine the banks want hillary to get elected. Share this post Link to post Share on other sites
joneo 529 Posted September 9, 2016 Obama and the Democrats went after the big banks and got them good!! https://en.wikipedia.org/wiki/2016_Democratic_National_Convention The 2016 Democratic National Convention was held at the Wells Fargo Center in Philadelphia, Pennsylvania, They tell the sheep they're going after big money and banks and BAM......they got them. Share this post Link to post Share on other sites
mobb_deep 917 Posted September 9, 2016 I would imagine the banks want hillary to get elected. Yah, I don't think a worldwide depression is good for the banks. Share this post Link to post Share on other sites
wiffleball 4,631 Posted September 9, 2016 FYI, the agency that found this scam and nailed them is a relatively new one called the Consumer Financial Protection Bureau. Elizabeth Warren had a role in establishing that (obviusly necessary) unit. Many ― including presidential hopeful Donald Trump and his running mate, Indiana Gov. Mike Pence ― have said they would like to see the agency abolished as part of their intended dismantling of the 2010 Dodd-Frank legislation passed to prevent another economic meltdown. But every time the agency exposes wrongdoing in consumer banking ― as it did on Thursday ― the CFPB offers a strong counterpoint to those arguments. (Other wins include busting Citibank for screwing over its customers and also predatory practices with regard to student loans, elderly scams and the payday loan industry). Share this post Link to post Share on other sites
jerryskids 5,172 Posted September 9, 2016 My mom passed away ~4 years ago, she had (modest) funds in both Wells Fargo and BofA. Extracting the WF money was the simplest process every and gave me a very positive impression of them. BofA made me set up an account and left me wanting to shower afterward. Plus WF has a huge presence here. Sorry to hear that they suck like most other banks. Share this post Link to post Share on other sites
Strike 3,950 Posted September 9, 2016 FYI, the agency that found this scam and nailed them is a relatively new one called the Consumer Financial Protection Bureau. Elizabeth Warren had a role in establishing that (obviusly necessary) unit. Many ― including presidential hopeful Donald Trump and his running mate, Indiana Gov. Mike Pence ― have said they would like to see the agency abolished as part of their intended dismantling of the 2010 Dodd-Frank legislation passed to prevent another economic meltdown. But every time the agency exposes wrongdoing in consumer banking ― as it did on Thursday ― the CFPB offers a strong counterpoint to those arguments. (Other wins include busting Citibank for screwing over its customers and also predatory practices with regard to student loans, elderly scams and the payday loan industry). Actually it was a Los Angeles Times article, http://www.latimes.com/business/la-fi-wells-fargo-sale-pressure-20131222-story.html that triggered an investigation and lawsuit by the Los Angeles D.A., which then triggered a Federal investigation: http://www.latimes.com/business/la-fi-wells-fargo-settlement-20160907-snap-story.html Share this post Link to post Share on other sites
Hardcore troubadour 12,593 Posted September 9, 2016 Trump wants to re-institute glass steagall, so I'll take that, even if it means giving up the cfpb. With all the money HRC has gotten from Wall Street, she would never do that. That's her base. Share this post Link to post Share on other sites
frank 2,144 Posted September 9, 2016 Argo fock yourself. Share this post Link to post Share on other sites
wiffleball 4,631 Posted September 9, 2016 Actually it was a Los Angeles Times article, http://www.latimes.com/business/la-fi-wells-fargo-sale-pressure-20131222-story.html that triggered an investigation and lawsuit by the Los Angeles D.A., which then triggered a Federal investigation: http://www.latimes.com/business/la-fi-wells-fargo-settlement-20160907-snap-story.html Interesting reads, Strike. Thanks. So, I strike the "found" part, but the $185M fine is clearly set and obtained by CFPB. The La Times couldn't do that, obviously. Larger point is Trump wants to nuke a pretty clearly necessary (and self-funding) agency. Would make for an interesting debate question in light of this news. Share this post Link to post Share on other sites
IGotWorms 3,302 Posted September 10, 2016 FYI, the agency that found this scam and nailed them is a relatively new one called the Consumer Financial Protection Bureau. Elizabeth Warren had a role in establishing that (obviusly necessary) unit. Many ― including presidential hopeful Donald Trump and his running mate, Indiana Gov. Mike Pence ― have said they would like to see the agency abolished as part of their intended dismantling of the 2010 Dodd-Frank legislation passed to prevent another economic meltdown. But every time the agency exposes wrongdoing in consumer banking ― as it did on Thursday ― the CFPB offers a strong counterpoint to those arguments. (Other wins include busting Citibank for screwing over its customers and also predatory practices with regard to student loans, elderly scams and the payday loan industry). I know you have HT's attention since he's all about policing the banks Share this post Link to post Share on other sites
Hardcore troubadour 12,593 Posted September 10, 2016 I know you have HT's attention since he's all about policing the banks Weak. And pointless, as per. Share this post Link to post Share on other sites
kilroy69 993 Posted September 11, 2016 The fact that none of these people are being brought up on charges is sick. We got one bank laundering money for the cartel and one that is playing a shell game with its clients money. what a focking joke dude. Share this post Link to post Share on other sites
Hardcore troubadour 12,593 Posted September 11, 2016 I advocate for violence in these cases. Open up a credit card in my name to hit your quota? I hit you. Share this post Link to post Share on other sites
RLLD 3,455 Posted September 11, 2016 Well lets not forget that they were simply seeking profit and around these parts the acquisition of profit means you can steal from anyone....right? Share this post Link to post Share on other sites
MDC 5,877 Posted September 11, 2016 Well lets not forget that they were simply seeking profit and around these parts the acquisition of profit means you can steal from anyone....right? Selling your house for market value isn't stealing, dolt. Share this post Link to post Share on other sites
IGotWorms 3,302 Posted September 11, 2016 Well lets not forget that they were simply seeking profit and around these parts the acquisition of profit means you can steal from anyone....right? If by "around these parts" you mean in the United States since the days of Reagan and the coronation of greed, yes. Share this post Link to post Share on other sites
TheNewGirl 1,020 Posted October 12, 2016 CEO of WF is retiring effective immediately. http://www.cnbc.com/2016/10/12/wells-fargo-ceo-stumpf-to-depart-dj-citing-source.html Share this post Link to post Share on other sites
TimmySmith 2,782 Posted October 12, 2016 As Stumpf’s bible puts it: “There are only three ways a company can grow. First, earn more business from your current customers. Second, attract customers from your competitors. Or third, buy another company. If you can’t do the first, what makes you think you can earn more business from your competitors’ customers or from customers you buy through acquisition?” This was from 2012. Strumpf should be in jail. Share this post Link to post Share on other sites
TheNewGirl 1,020 Posted October 12, 2016 This was from 2012. Strumpf should be in jail. Isn't every business out there to earn more business from it's customers, to look more attractive, and to buy each other out if one is failing? Right now....IPhones are more attractive than Samsung Galaxies. iPhones are getting more expensive, so Apple is earning more from it's customers. Competitors have phones that are exploding (literally). Now, if Samsung fails...why shouldn't Apple buy them out? Share this post Link to post Share on other sites
wiffleball 4,631 Posted October 12, 2016 This was from 2012. Strumpf should be in jail. Nothing illegal in that. Just Business 101. Share this post Link to post Share on other sites
Hardcore troubadour 12,593 Posted October 12, 2016 Nothing illegal in that. Just Business 101. Lol. Share this post Link to post Share on other sites
RLLD 3,455 Posted October 12, 2016 If by "around these parts" you mean in the United States since the days of Reagan and the coronation of greed, yes. Sure, this forearm is just a window into the wider view of America where stealing is OK so long as there is profit involved. Share this post Link to post Share on other sites
TimmySmith 2,782 Posted October 12, 2016 Nothing illegal in that. Just Business 101. I must have missed "mining existing customer data to create fraudulent accounts" as a way of "getting more business from your existing customers" in business school. Share this post Link to post Share on other sites
Hardcore troubadour 12,593 Posted October 12, 2016 I must have missed "mining existing customer data to create fraudulent accounts" as a way of "getting more business from your existing customers" in business school. He worked for Enron. Nuff said Share this post Link to post Share on other sites
wiffleball 4,631 Posted October 12, 2016 I must have missed "mining existing customer data to create fraudulent accounts" as a way of "getting more business from your existing customers" in business school. I was responding to what you quoted dill weed. Share this post Link to post Share on other sites
TimmySmith 2,782 Posted October 12, 2016 I was responding to what you quoted dill weed. And what I quoted was as much as an admission of intent dill weed. He was not a bystander. Share this post Link to post Share on other sites
wiffleball 4,631 Posted October 13, 2016 And what I quoted was as much as an admission of intent dill weed. He was not a bystander. No, it wasn't. It was business 101. Those three options are how virtually any company expands. There's NOTHING criminal in any of those 3 options. Do you think McDonalds had criminal intent in 1 1) Developing new products? 2) Attracting competitors business? 3) Purchasing Chipotle? I'm guessing you didn't go to college. Because there's nothing in what you quoted that indicates any kind of 'admission of criminal intent'. No Wonder Trump Still has Voters... Share this post Link to post Share on other sites
