December 13, 2016

More reason to ditch Wells Fargo bank

Today (12/13/16) The Wall Street Journal reported that "U.S. regulators slapped Wells Fargo with new regulatory sanctions, saying the firm failed to address alleged 'deficiencies' in a plan to manage its own bankruptcy without a taxpayer bailout." It appears that the executives running the bank are pretty clueless as reporters Tracy and Glazer wrote: the rebuke was "another black eye for a bank that is still reeling from a scandal over its creation of bogus customer accounts. Even more stinging: the news was akin to failing a make-up test as the San Francisco bank had failed an initial test in April."
Consumers have so many choices for where to get banking services; why would anyone stick with Wells Fargo after the way it has mistreated its customers AND low-paid employees who were forced to implement the egregious policies. Further, the bank has fired many of those employees when the top decision makers should be the ones losing their jobs, pensions, and termination perks.
Consumers: check out a credit union near you!

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