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Wells Fargo, at it again

Two senators demand answers from Wells Fargo following NBC News reports:

“The senators, Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii, both Democrats and members of the Senate Banking Committee, wrote a letter on July 29 requesting information and documents about Wells Fargo’s policy of placing customers in so-called forbearance programs they did not request.“

The conduct can harm borrowers’ credit reports by showing that they are not making payments even when they are and can prevent them from refinancing their home loans to take advantage of rock-bottom interest rates.

The senators’ letter said the bank “appears to be incapable of self-governance,” and noted that reports of borrowers being placed in forbearance programs they did not want “raise even more questions about the inability of Wells Fargo and its leadership team to comply with the law and the needs of its customers.”

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by Anonymousreply 11Last Friday at 12:59 PM

If the banks aren't finally broken and beaten they'll destroy the economy. They must be crushed.

by Anonymousreply 1Last Friday at 8:11 AM

Nationalize the banks. Now.

by Anonymousreply 2Last Friday at 8:17 AM

Thank god for Liz Warren. The champion of the working man.

by Anonymousreply 3Last Friday at 8:20 AM

These bankers can’t help themselves. They want it all. Even your grandmas house.

by Anonymousreply 4Last Friday at 8:43 AM

Shameless crooks.

by Anonymousreply 5Last Friday at 8:49 AM

I inherited Wells Fargo when they took over Wachovia in 2009.

I have had both business and personal checking accounts with them, as well as my mortgage and a business loan. I've never had a problem with their services and no one has ever tried to get me to open up new accounts or anything else I didn't need or want.

Anecdotal evidence I know, but I have never had a problem with them.

by Anonymousreply 6Last Friday at 8:57 AM

Hell’s Cargo

by Anonymousreply 7Last Friday at 10:41 AM

The worst bank in the world. Why even risk it?

by Anonymousreply 8Last Friday at 11:16 AM

Fast and loose, goddam money grabbers all of them! Cut their balls off!

by Anonymousreply 9Last Friday at 11:59 AM

Wells Farrago

by Anonymousreply 10Last Friday at 12:00 PM

About 8 years ago, the local branch kept calling me everyday, telling me I had to open a new money market account. I already had a savings account and a checking account. I agreed to visit the branch, and they convinced me to open a third account. But they didn't link the new account with overdraft protection, and a few weeks later, my rent check bounced even though I had $85,000 in the account. They did something similar to my parents.

by Anonymousreply 11Last Friday at 12:59 PM
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