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Surprise! Wells Fargo Employees Committed Fraud for Bonuses

Discussion in 'BlackHat Lounge' started by Reaver, Sep 10, 2016.

  1. Reaver

    Reaver Jr. VIP Jr. VIP

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  2. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Stop sneering at me!

    Wells is one of the worst financial institutions with which to do business and has been for years.

    I'm not happy to see that but I'm not surprised as they have always been a HUGE Pia.
     
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  3. tasburrfoot

    tasburrfoot Regular Member

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    I prefer my mattress, accrues more interest.

    And they say gangsters don't wear suits anymore..
     
  4. IBuildStuff

    IBuildStuff BANNED BANNED

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    Yea, and they were the only bank to not require a financial bail out because they washed so much cartel's money that they didn't need any extra money.
     
  5. Reaver

    Reaver Jr. VIP Jr. VIP

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    I actually don't blame people for not having bank accounts. Stories like this make me wish I didn't need one.

    I do think that this practice was encouraged by management. 5300 employees getting fired over a few years is really fishy.

     
  6. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    When I dealt with Wells on the wholesale side they were the worst.

    The absolute worst actually.

    I'm not surprised at the 5300 # because you could present them with a perfectly good offer, one that fit well inside their guidelines and they would find something they didn't like and kick it back.

    That kind of behaviour always made us comment that Wells did not manage their people on any level that would be considered acceptable to a depositor or one that used them as a pass through lender.

    Still, you don't like to see this as it hurts many more than the 5300 or so mentioned.
     
  7. Reaver

    Reaver Jr. VIP Jr. VIP

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    I didn't even know they had a wholesale side.

    I guess you never really learn these things unless you deal with them directly or knows someone who did.

    Or they get busted, like in this case.

    I'm not shocked either. I think those 5300 employees were probably just scapegoats. But the article said Wells Fargo claims to be transparent about everything, and when they make a mistake, they own up to it.

    :rolleyes: Right.

     
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  8. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    And I'm the King of England.
     
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  9. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Banks are pretty good, its so much easier than having to deal with cash all the time.
     
  10. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Banks suck.

    And I'm being nice.
     
  11. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Are you even including credit unions?
     
  12. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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  13. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Credit Unions are actually pretty awesome, you can make deposits and withdrawals at any shared branch. I used to think that it was only worth it to join BoA or Chase because they are national banks with branches all over the country. But with a credit union I can also go to other credit unions for most services.
     
  14. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Which is why I did not include CUs.

    BOA blows chunks too BTW.
     
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