Author Topic: Wells Fargo to be slapped with $1 billion penalty by regulators, report says  (Read 493 times)

Online walkstall

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Federal regulators are set to slap Wells Fargo with a $1 billion penalty for abuses such as charging unwitting customers for auto insurance and bogus mortgage fees.

The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency plan to announce the penalty as part of a settlement on Friday, according to the New York Times. Wells spokesman Oscar Suris declined comment.


more @
https://www.usatoday.com/story/money/2018/04/19/wells-fargo-hit-1-b-penalty-report/534327002/
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Offline supsalemgr

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snip~
Federal regulators are set to slap Wells Fargo with a $1 billion penalty for abuses such as charging unwitting customers for auto insurance and bogus mortgage fees.

The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency plan to announce the penalty as part of a settlement on Friday, according to the New York Times. Wells spokesman Oscar Suris declined comment.


more @
https://www.usatoday.com/story/money/2018/04/19/wells-fargo-hit-1-b-penalty-report/534327002/

I bank with Wells Fargo because they bought Wachovia. When the change first occurred it was a challenge going to the bank and being hit with sales pitches by untrained sales people at the branches. It was clear these folks were told just to "sell" without proper training. This was easily recognizable since my career was in sales management. These tactics have come back to cost them as it should have.
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I bank with Wells Fargo because they bought Wachovia. When the change first occurred it was a challenge going to the bank and being hit with sales pitches by untrained sales people at the branches. It was clear these folks were told just to "sell" without proper training. This was easily recognizable since my career was in sales management. These tactics have come back to cost them as it should have.

That is exactly why i dropped them a few years back. I could not go in their without serveral people trying to sell me something i didnt need, like an extra savings account or whatever. Ruined the whole experiance, so i dropped them.

 

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