Search Results for: wells fargo

Wells Fargo north: Canadian banks cross-selling customers into financial hell

Further to the revelations last fall that US bank Wells Fargo was driving its employees to cross-sell customers debt and risk products to their financial ruin, we noted that Wells was not unique in its predatory business plan. It is … Continue reading

Posted in Main Page | Comments Off on Wells Fargo north: Canadian banks cross-selling customers into financial hell

Bloomberg report: Wells Fargo executives knew about Fraud

Wells Fargo & Co. is in the process of a board investigation of the scandal involving employees opening unauthorized customer accounts. Bloomberg’s Laura Keller reports on management accountability at the bank. Here is a direct video link. Also see the … Continue reading

Posted in Main Page | Comments Off on Bloomberg report: Wells Fargo executives knew about Fraud

Wells Fargo CEO change: but business as usual

Investigations into business practices at the giant US bank Wells Fargo are continuing today despite the resignation of its CEO John G Stumpf earlier in the week. His departure was prompted by continuing allegations of mis-selling by the bank including … Continue reading

Posted in Main Page | Comments Off on Wells Fargo CEO change: but business as usual

Ten things the Senate must ask Wells Fargo CEO today

Today Wells Fargo CEO John Stompf is appearing before the Senate Banking Committee to answer questions on widespread fraud at many of the bank’s branches where over 5000 employees have now been fired for opening fake accounts and credit applications … Continue reading

Posted in Main Page | Comments Off on Ten things the Senate must ask Wells Fargo CEO today

Warren to Wells Fargo execs: “either you knew or you should have known”

Bankers have developed a habit of taking credit and cash for apparent upside while avoiding responsibility and any liability when things go bad. This one-sided bet is not available to the rest of us and it has to end for … Continue reading

Posted in Main Page | Comments Off on Warren to Wells Fargo execs: “either you knew or you should have known”

Wells employee describes bank ‘lions hunting’ customer ‘zebras’

More excellent evidence on why banks must be run as deposit taking utilities and not allowed to cross-sell financial products to their customers.  These institutions are presently criminal, predatory and socially destructive franchises that are gutting the financial strength of … Continue reading

Posted in Main Page | Comments Off on Wells employee describes bank ‘lions hunting’ customer ‘zebras’