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Wells Fargo hit with $1 Billion fine

1,729 Views | 7 Replies | Last: 6 yr ago by AgBank
SouthTex99
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AG
Duncan Idaho
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There should have been jail time. Lots and lots of jail time.
JSKolache
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AG
Jail maybe. Or hit them where it really hurts, e.g. 20,000+ cars repossessed cuz the bank screwed up should = 20 years they are barred from writing auto loans.
O'Doyle Rules
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AG
Yeah we are all shocked a well connected CEO didn't get jail time /s

But heaven forbid you smoke a joint in an illegal state. More of the same crap.
John Francis Donaghy
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Why anyone is even willing to do business with WF at this point is beyond me. Everyone who does anything with them should expect to be ripped off at some point in the course of business.
bmks270
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AG
John Francis Donaghy said:

Why anyone is even willing to do business with WF at this point is beyond me. Everyone who does anything with them should expect to be ripped off at some point in the course of business.


Ignorance.
a07nathanb
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AG
I had a great aunt who had no children. Her husband had left her a several million dollar trust held by Wells Fargo when he died. She lived in luxury senior apartments for twenty years and had run it down to about $900k in 2007. By this time she was in her 90s. After her death in 2010 we went over some of her statements. The friendly Wells Fargo trustee had taken a well diversified portfolio in 2007 and sold it all in early 2008 and put 100 percent of this elderly womans funds in Wells Fargo Stock. In 2008. She died with less than 50k left. If she wouldn't of passed she would of been kicked out of her apartment for being broke. This should of been criminal. Elder abuse or something. I wouldn't recommend WF for anything
BO297
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Nathan, this is about the 5th story I have heard like that this year.

If anyone is leaving someone to be takek care of like that, please don't leave it all with one person/entity.

Diversify advisors as well as portfolios.
AgBank
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AG
I have two mortgages with WF. I have never had a problem.

I recommended to some family that they move their money out of WF private wealth management, but that had more to do with the specific advisers.

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