Update on Wells Fargo
Via Reuters Wells Fargo drags feet:
Wells Fargo last September settled with three regulators after revelations that branch staff set up as many as 2.1 million accounts without customer authorization in order to hit sales targets. Since then, the bank has replaced its CEO and other top executives have either resigned or been fired.
The bank has been hit with several regulatory inquiries and lawsuits.
“The extent of fraud at Wells Fargo was stunning,” Stringer said in a statement sent to Reuters on Thursday. “Executives have been held responsible — but now directors must answer for their part… This board needs to be refreshed — today.”
I don’t like Wells Fargo because I NEVER HAD an account there and yet they persist in sending me emails demanding I update my personal info or they will suspend my account.
are we now to suppose that Wells Fargo has reformed and we need to treat it with good will and respect?
hard to put a corporation in jail, but at least the people who had a choice in Wells behavior, from the CEO to the individual “sales” person should be required to pay back all the people they stole from.
As it turns out other banks are still engaging in practices that amount to fraud and I see no willingness on the part of my legislature or the state attorney to do anything about it.
“should” not “shoule”