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>"In their appeals to Wells Fargo, Mr. Faunce and Ms. Gibson cited the consumer bureau’s rules about fraudulent losses, but the bank repeatedly rebuffed them."
by bogomipz 5y ago
>"In their appeals to Wells Fargo, Mr. Faunce and Ms. Gibson cited the consumer bureau’s rules about fraudulent losses, but the bank repeatedly rebuffed them."
I don't understand why Well Fargo is still able to operate as a bank or why consumers would ever even consider maintaining an account with them. It has been shown that they have literally operated as a criminal enterprise, conspiring against their own "customers." While I really feel for these folks I wouldn't expect anything less from this toxic shit hole of a company. Please vote with your feet.
From the Department of Justice, 2 years ago:
"Wells Fargo & Company and its subsidiary, Wells Fargo Bank, N.A., have agreed to pay $3 billion to resolve their potential criminal and civil liability stemming from a practice between 2002 and 2016 of pressuring employees to meet unrealistic sales goals that led thousands of employees to provide millions of accounts or products to customers under false pretenses or without consent, often by creating false records or misusing customers’ identities, the Department of Justice announced today." [1]
From the Texas Attorney General:
"Between 2009 and 2016, Wells Fargo opened as many as 3.5 million bank accounts, transferred funds, filed credit card applications and issued debit cards without customers’ knowledge or consent. The bank disclosed that it found 528,000 unauthorized enrollments of customers in its online bill payment service.
In addition, Wells Fargo improperly referred customers for enrollment in third-party renters and life insurance policies; charged auto loan customers for insurance they did not need; failed to ensure that customers received refunds of unearned premiums on certain optional auto finance products; and incorrectly charged customers for mortgage rate-lock extension fees."[2]
[1] https://www.justice.gov/opa/pr/wells-fargo-agrees-pay-3-billion-resolve-criminal-and-civil-investigations-sales-practices https://www.justice.gov/opa/pr/wells-fargo-agrees-pay-3-bill...
[2] https://www.texasattorneygeneral.gov/news/releases/ag-paxton-announces-575-million-settlement-wells-fargo-violating-consumer-protection-laws https://www.texasattorneygeneral.gov/news/releases/ag-paxton...