Wells Fargo are thieves who steal from their customers. If you use them, you’re about 15 years delayed in getting out. Security issue.
I had a teller LITERALLY try to steal money from me.
A number of years back I was depositing cash from doing some side-hustle party entertainment work, I counted the cash, handed the cash to the teller and he counted it off, and it was short $100.
The thing was, I was doing magic tricks at parties, I had taught myself a bunch of very basic card tricks and slight-of-hand, not amazing but well enough to impress grade-schoolers, so I caught when the teller did a thing with his hands as he counted, he seemed to palm a bill and I felt immediate unease and wasn’t sure what to do, so I called the manager over and my partner and got the attention of another teller, I figured if I got enough people around he couldn’t pull any further tricks. I said we were “missing” a 100-dollar bill, and the teller acted really confused, pretended to look everywhere, then suddenly the missing bill “appeared” in his drawer. I let it go because I just wanted to go home.
I can even forgive that, that’s one person, not an entire institution. I wouldn’t have a gripe with Wells Fargo if that was all that ever happened. But they did things later on in my life like when I rented a car, they sent me on an overdraft-fee spiral that made my account -$5000 by the time I called the bank. They undid the erroneous charges after lots of shouting.
Later on, I had no choice but to finance a vehicle through WF, I will save the whole, long, horrible story and the shouting matches, but to give an idea how bad-faith they are, they fucking REFUNDED ME THE ENTIRE CAR with a series of “apology checks” over a period of three years after they repossessed it wrongly.
The only reason I didn’t lose tens of thousands of dollars to Wells Fargo is because I learned to fight, fight and scream and yell when they tried to scam me. This shouldn’t be on the customer to be aggressive and angry just to guarantee normal business.
Who more qualified than a company that is banned from doing business in some parts of the US due to being caught defrauding customers?
We should do an uno reverse and nationalize wells fargo.
They should have been nationalized in 2009 instead of receiving $25 billion bailout loan.
“Loan”
They did pay it back.
cool, at what interest rate? is it as bad as they charged us? with their regular bankruptcies, why did they get it at all? why did the american taxpayer take that level of risk for what I assume is no reward?
Why don’t you go find out for yourself. I already said they should have been privatized, I’m not here to do everyone’s research for them.
point is they didn’t pay back shit.
How much of that was subsidized by the US government bailing out AIG?
Musk would just learn from them and open a bunch of bank accounts for everyone in the USA and have him control them all.
This is literally what he wants Twitter to be.
we all know that’s gonna happen anyway.
Reminder that Wells Fargo was caught opening millions of accounts without permission. This company should not be trusted with anything.
One of the rare cases where a company actually paid a huge $3 billion settlement.
And was banned from doing business in California
I was one of those millions. Cost me way more than I got back in the settlement. Wells Fargo is a criminal organization.
Fuck, I’m sorry that happened to you. It’s ridiculous that every victim of their fraud wasn’t at least made whole, but in addition to the people who should have gone to prison, you and all their victims honestly should have been given a modest fortune as proper restitution for these crimes.
for justice? yes. for law? lolno.
It hardly made a dent, though.
Totally. It wasn’t close to being enough. The entire board should have been arrested for fraud, at the very least. At least it wasn’t some laughably low amount like we’re used to, I’m surprised it was even this high.
I really wish we’d start prosecuting and imprisoning leadership boards for really anything the company does wrong. It’s really amazing the way we let companies just get away with every single thing, I mean how much more predictable could the slide to shittiness be?
Damn straight.
This is exactly why fees would be revenue based. A flat 1% of annual revenue per offense would very quickly get that shit to stop.
Talked to the board and my state senator and they are good with this, so long as at every 100 offenses it rolls over back to 0 like an odometer.
I was looking for this comment. ALL fines should run as a percentage of annual income or profits. This includes traffic tickets and other fines.
Didn’t a country do speeding tickets as a percent of income?
Just an operating cost.
3B is peanuts to them. I want to see fines that cripple a company’s yearly profits so that, in lieu of criminal investigations and repercussions, the execs at the very least get punished by their board of directors and shareholders. There’s only one language they understand. Another poster called it “operating costs”. That’s what we need to get rid of; punitive fines need to regain their punitive nature in order to be anywhere close to effective.
Needs executive jail time of 1 year per million dollars too.
If a corporation is effectively a ‘person’ under the law, any corp that has caused death should receive the death penalty, and their executives executed by firing squad.
Also, as a legal entity as that of personhood, are corps even allowed to identify as anything under new anti dei ‘laws’?
I don’t know Wells Fargo’s gender. That’s illegal now.
To add on to what you said, the way I’ve always described my stance on the corporations are people argument is that I will believe they are people when Texas gives one the death penalty.
No doubt. If fines and settlements are all we can muster, then there needs to be real personal consequences for those responsible as well as the corporation taking responsibility. Until we fully decouple money and politics, I have a hard time imagining that kind of proportionate punishment ever being doled out.
This is true. At the time it sounded so serious. Hand slaps and finger wags. It’s totally ok to cheat steal and lie if you are rich. Rules don’t apply to you. It’s completely mad.
yeah. laws are pretty wild.
but there are better ways to organize and run society, that don’t rely on excuses and victim blaming to keep the poor from having solidarity with each other.
Hold on, what victim was being blamed in the comment you replied to?
Are you suggesting that Wells Fargo was a victim? That’s literally the only way I can figure out to interpret this.
Yep if there was any justice in the world this would have put Wells Fargo deep in the ground but fucking no
Seriously. There’s no reasonable argument that they should have been allowed to continue to exist after that.
They don’t need to privatize the USPS, they just need to lobby for the government’s monopoly on post, established by act of Congress in the 1800s, to be removed. Then they can create a competing postal system, like Lysander Spooner did with the American Letter Mail Company. If they really think they can make a profitable service that competes with the USPS, let them try.
They don’t want to compete. That’s not the point of any of this. They want to strip it for parts because Trump has rang the dinner bell for the vultures to feast on everything we have built in this country.
Yeah and you think that the current federal government would allow the USPS to compete fairly with the private corporation that their buddy owns?
It’s not a monopoly, everyone collectively agrees USPS is shit compared to their competitors FedEx and UPS
everyone collectively agrees
Evidence of this?
USPS is shit compared to their competitors FedEx and UPS
At what? Packages or letters? Bulk shipping? International? Domestic?
Define, refine, and support your terms and arguments.
Then again you decided on @RoosterBoy@lemm.ee as a handle, so I suppose we should all expect nothing but “cock-a-doodle-doos” out of you.
How can you simultaneously ask for a source like a normal adult and resort to attacking the username of an account on the internet like a kindergartener? It detracts from your point regardless of validity.
also:
Sooo… is that your answer? You’re just going to imply that your claim is self-evident and leave it at that?
Because you’re blatantly wrong. If Fedex or UPS had to operate at the scale the USPS does they wouldn’t last a week and you probably wouldn’t receive your mail on time if you ever did.
And even if they absorbed the USPS that means shipping costs would skyrocket because they’re not operating with tax money
Fair; poking fun at your lemmy handle was admittedly unnecessary, but I thought it was a decent ribbing, given the name and what you claimed.
However, none of that absolves you from providing where you get the information that “everyone collectively agrees that the USPS is shit” compared to FedEx and UPS and what it’s specifically “worse” at. You’re not claiming something axiomatic like “2+2=4”, you’re making broad generalizations about “everyone”.
Of course, you can make claims without evidence and post wojak memes all day, but then “everyone would collectively know” you’re full of shit.
Just post ‘‘precum can get you pregnant’’ and watch the levees break.
It can; is that hotly debated?
That’s not really true. USPS isn’t a monopoly—it’s a public service with a legal obligation to deliver to every address in the U.S., no matter how remote or unprofitable. FedEx and UPS can cherry-pick the routes that make money and skip the rest. In fact, they often rely on USPS for the final leg of rural deliveries because it’s cheaper for them than doing it themselves.
Also worth noting: USPS doesn’t get taxpayer funding for operations and is saddled with ridiculous requirements, like pre-funding retiree benefits decades in advance—a rule no private company has to follow. Then people cut funding or impose restrictions and turn around to say, “See? Government doesn’t work.”
So yeah, it’s not perfect—but comparing it to FedEx or UPS without acknowledging the completely different rules they play by misses the point entirely.
The USPS has 2 legal monopolies, according to US code title 39:
-
Carrying letters, with an exception for “very urgent material” - which is why FedEx, UPS, DHL, etc are able to carry some letters, but can’t do regular ground letter delivery.
-
Use of mailboxes. It is a felony (IIRC) for non postal employees to put things inside mailboxes.
-
As someone who uses USPS to deliver mail or packages whenever I need to do that it definitely isn’t universally agreed on. It has reasonable prices compared to the other ones and I’ve never had issues with packages taking too long or getting lost.
thats only because USPS has been purposely crippled by dejoy and the gop, even fore pandemic bush forced USPS to fund pensions for 75 years in advance. thats what they are after.
You’re kidding, right?
Everybody?
I think you’re talking out your ass.
I have never had USPS leave a package half torn open, closer to the sidewalk than my gate. I know it showed up like that and in that position from camera footage.
Thanks FedEx ground, you fucking garbage collection of contractors.
I’ve had mutilated packages delivered by USPS, FedEx, and UPS. FedEx and UPS, I called, filed a complaint, got a case number, and received a replacement within a few days to a week. USPS, I called, spent hours trying to reach someone, and was told “nothing we can do, call the sender”.
FedEx contractors suck, but at least the company will make you whole when their contractors fuck up. USPS employees don’t give 2 shits, IME.
We have the exact opposite experience in our area, USPS doesn’t even deliver to the correct houses half the time even if they somehow manage to get stuff here intact.
Tell you what, let’s have a contest: we each mail 100 letters, me from USPS and you from FedEx, and we track which ones arrive first
If you are using FedEx ground, you might wait forever on a decent percentage of those letters.
I like my mail service. They did take the mailbox on the block during Trumps first term though, but people complained and we got it back.
I dislike my mail service, they deliver crumpled balls that used to be boxes to houses miles away with completely different numbers than the intended destination.
People, shall we plot to eliminate Wells Fargo as a banking entity? Sign up for a local credit union instead, perchance?
Wait, is it possible to plot for good, or is all plotting nefarious?
I consider plotting to be value neutral!
For anyone thinking it. I can confirm it feels great to close your wf account.
I closed mine when they were still called Wachovia 🤗
What? Wells Fargo was founded in 1852.
Wachovia was a smaller bank that got bought out by Wells Fargo, iirc it was during the 2008 recession
Whack off ova-ya.
Seriously FUCK these guys who think everything should be run like a business
This sounds like a scheme hatched in 1887.
Right? I thought this was a side plot in The Music Man
Democrats need to inject FUD into all privatization efforts, by saying they will investigate and reverse it if it happens.
I strongly support the notion that any federal assets sold off illegally by trump should be imminent domained.
Any entity that participated in privatization volunteers to be socialized.
They all volunteered to be socialized when they fucked up in 2008.
Why do you think the democrats are going to do anything?
They have been sitting on their hands the whole time time Trump is doing all of this shit just like they sat on their hands after Biden won.
Abandon democrats.
I’d like to privatize Wells Fargo, where I also mean “dismantle and leave behind an unrecognizable corpse”
Where’s a private equity firm when you need one??
Guess who’ll be affected the most?
Hint
It won’t be the (mostly) urban leftists.
I never even check the mail. I hope I didn’t miss jury duty.
Meanwhile, in developed countries, post offices offer banking services.
Decades of bilking the elderly with unneeded services, imagine the fees they could charge for a real need. Ching Ching Ching
It’s gone so well for us in the UK, I can’t imagine the entire organisation being asset stripped and then held for random at the taxpayer’s expense.
