California Cuts Away $2 Trillion From Wells Fargo For Fleecing Their Customers

  • metta

    Posts: 39078

    Sep 29, 2016 4:21 AM GMT
    California Cuts Away $2 Trillion From Wells Fargo For Fleecing Their Customers

    http://usuncut.news/2016/09/29/california-cuts-away-2-trillion-from-wells-fargo-for-fleecing-their-customers/
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    Sep 29, 2016 4:33 AM GMT
    Do I understand correctly that the Wells Fargo CEO who oversaw all this gets to depart Scott-free with a $41M golden parachute?
  • metta

    Posts: 39078

    Sep 29, 2016 5:08 AM GMT
    Art_Deco saidDo I understand correctly that the Wells Fargo CEO who oversaw all this gets to depart Scott-free with a $41M golden parachute?


    Behind-the-scenes strife led to CEO Stumpf forfeiting $41 million

    http://www.cnbc.com/2016/09/28/why-wells-fargo-ceo-stumpf-is-forfeiting-41-million.html
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    Sep 29, 2016 5:37 AM GMT
    metta said
    Art_Deco saidDo I understand correctly that the Wells Fargo CEO who oversaw all this gets to depart Scott-free with a $41M golden parachute?


    Behind-the-scenes strife led to CEO Stumpf forfeiting $41 million

    http://www.cnbc.com/2016/09/28/why-wells-fargo-ceo-stumpf-is-forfeiting-41-million.html

    OIC, thanks. I read these online news blurbs, and they're always not clear. Or else you can blame my own comprehension.

    In any case he's LOSING $41M. Well that's kinda good. And I think I now read from your link that the former head of WF community banking is also losing $19M in equity, and not getting any severance.

    These are good signs. Because Wells Fargo is our own bank, and locally we experience very good service from them. We know some of their local execs who are gay, see them at gay functions. They are instrumental in arranging Wells Fargo donations to our gay charities, and the bank maintaining a positive LGBT profile here.

    We left Bank of America because of both poor local service, and bad corporate behavior. I don't want us to face that situation again. Changing banks is very disruptive, and we have such good rapport with the staff at our nearest branch.

    Where else would we go? Almost all national US banks have become dirty dealers. Yet we prefer the convenience of a major bank with a large presence wherever we travel, versus a mostly regional bank, whose services disappear when we travel. And one that openly supports our LGBT community. We need all the corporate allies, and money, we can get.

    A dilemma, and some difficult choices. We feel we need a large national bank for their services, but are losing confidence in all of them. We won't bank with thieves. So what do we do? icon_question.gif
  • metta

    Posts: 39078

    Oct 04, 2016 4:16 AM GMT
    Illinois suspends $30B in Wells Fargo activity; bank 'sorry'

    http://www.msn.com/en-us/money/companies/illinois-suspends-dollar30b-in-wells-fargo-activity-bank-sorry/ar-BBwWIun?ocid=iehp