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  • wells fargo

    I have been a Wells Fargo customer for many years. With the recent issue with that bank, I was curious if anyone had any thoughts about staying with the bank or other decent banking options-recommendations. I have never had any issues with the bank but have concerns based on the recent negative press.

  • #2
    I have been a Wells Fargo customer all of my life and have no plans to switch.  Yes, it was disgraceful what they did, but it hasn't interrupted by banking relationship with them in any way.

    Plus there are two branches down the street and they always give my kids lollipops, that helps too!

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    • #3
      If you haven't left prior to this, don't.  They are digging out the skeletons in their most recent statement on more fake accounts dating back to 2009.  The aura of ethical superiority of WF is broken.  The management of WF looked the other way, incentivized and put this cross-sell culture pressure in place in the process ruining the professional opportunities of those who stood up to management.  IMO, most of the board of directors of this company needs to be fired.

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      • #4
        Negative press? Lol you make it sound like fake news....
        I dont have an account there and now never will.

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        • #5
          Using SS#s and personal info to open new accounts...........that's identity fraud on a massive scale.

          An old friend worked in WFC bond department for 30+ years.  She just resigned out of shame.

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          • #6
            When a metric (new accounts opened) becomes a target, it ceases to be a metric.

            It's disappointing because Well Fargo was one of the banks before the crisis that behaved well. They were forced to purchase Wachovia which was insolvent due to their mortgage practices and the purchase of CountryWide Mortgage.But yeah, if you didn't cancel before, no reason to now. Just b/c they found more skeletons doesn't mean it's a new crisis.

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            • #7
              If you leave every bank and sell securities of every business that has ever done something unethical, you are going to find yourself stuffing money under your mattress pretty fast.

              What WF did was bad.  The top-level management reaction was even worse (and ultimately cost many folks their jobs and a lot of money), but the damage to any consumer was pretty small (~$25 on average from what I have seen).  This is just another reason why you should check your accounts and credit reports frequently and maintain your records.  You really cannot absolutely trust any of these places.

               

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              • #8




                I have been a Wells Fargo customer all of my life and have no plans to switch.  Yes, it was disgraceful what they did, but it hasn’t interrupted by banking relationship with them in any way.

                Plus there are two branches down the street and they always give my kids lollipops, that helps too!
                Click to expand...


                They also have dog biscuits for the fur-babies!

                There are clearly people that need to be brought to trial, fined and imprisoned over this--although I won't hold my breath waiting.  While I can't be sure, I think the folks at my local branch are not criminals.

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