2 ms·
it is interesting that even with all these scandals that account holders haven't punished wf. The accounts fraud was in sept 2016, and looking at their annual r
by rgbrenner 8y ago
it is interesting that even with all these scandals that account holders haven't punished wf. The accounts fraud was in sept 2016, and looking at their annual report for last year, they increased revenue, increased total deposits, and increased consumer and small business deposits.
Maybe that's less growth than they would have gotten.. but it's definitely not a penalty. Just a complete failure by consumers to hold the bank accountable.
https://www08.wellsfargomedia.com/assets/pdf/about/investor-relations/annual-reports/2017-annual-report.pdf https://www08.wellsfargomedia.com/assets/pdf/about/investor-...
But at least the fed is putting a cap on their growth now:
https://www.reuters.com/article/us-usa-wells-fargo-fed/fed-orders-wells-fargo-to-halt-growth-over-compliance-issues-idUSKBN1FM2V9 https://www.reuters.com/article/us-usa-wells-fargo-fed/fed-o...
- cannonedhamster 8y agoHSBC was literally knowingly laundering cartel money and funding mass murder and got a wrist slap for it. Banks literally drove the global economy into a tailspin with greed and the US taxpayer got the privilege of bailing them out and paying bonuses to the executives. Some minimal protections were put in, but even those were too much for them so they're having the Republicans roll them back for them. America is a country that has ceased being a functioning democracy or society based on actual capitalism. It sure is nice to think about the good ol' days though right?