Why would anyone continue to do business with Wells Fargo? They have a LONG history of abusing consumers! The highest level of management has repeatedly forced their employees to take advantage of consumers resulting in appalling situations... repeatedly... time and time again.
If you are a Wells Fargo customer, the #1 item on your to-do list is to find a financial institution that will treat you as a valued customer rather than a schmuck to take advantage of. Most consumers can join a Credit Union which is consumer owned rather than a bank that is beholden to stockholders.
"The Consumer Financial Protection Bureau (CFPB) is ordering Wells Fargo Bank to pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty for legal violations across several of its largest product lines. The bank’s illegal conduct led to billions of dollars in financial harm to its customers and, for thousands of customers, the loss of their vehicles and homes."
"Consumers were illegally assessed fees and interest charges on auto and mortgage loans, had their cars wrongly repossessed, and had payments to auto and mortgage loans misapplied by the bank. Wells Fargo also charged consumers unlawful surprise overdraft fees and applied other incorrect charges to checking and savings accounts. Under the terms of the order, Wells Fargo will pay redress to the over 16 million affected consumer accounts, and pay a $1.7 billion fine, which will go to the CFPB's Civil Penalty Fund, where it will be used to provide relief to victims of consumer financial law violations."
Pay attention to the REAL news, not Tik Tok or Facebook or YouTube. Check out this story from NPR: https://www.npr.org/2022/12/20/1144495984/wells-fargo-to-pay-3-7-billion-over-mistreatment-of-its-customers
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