With its 2018 tax cut, Wells Fargo could pay its $1 billion fine 3 times and still have cash to spare. This civil penalty will not hobble or even slow down the bank.
The tax cut is expected to boost the company’s profits by $3.7 billion this year alone. With $2.7 billion left in profit from the cut, shouldn't Wells Fargo pay all of its workers a $20 base wage? #BetterBanks buff.ly/2qQggH8...
Major news! Wells Fargo has been fined a record breaking $1 billion for insurance and mortgage abuses.
Two federal regulators are fining the bank $500 million each for forcing customers into car insurance they didn't need, leading to thousands of car repossessions. They are also being fined for charging mortgage borrowers unfair fees. What are you thoughts? ...
I work for Wells Fargo at an actual branch that has nothing to do with this issue. We had nothing to do with this, so “shutting them down already” would mean me losing my job when I do what I should within my job. Wells Fargo is a huge company. Don’t group us all into one.
Where does the fine money go?
It's a start. Now hold the executives accountable. They must pay their dues and do time in their own privately owned prisons !!! Tolstedt and Stumpf to start with.
Their profits are about $20 billion per year. It’s a drop in the bucket for them.
Still waiting for the class action suit settlement 😪
The CFPB has not taken a single enforcement action since Acting Director Mick Mulvaney took the helm, and it's not ok. We need stronger enforcement to prevent financial abuses like the Wells Fargo fake accounts scandal and workplace abuses against workers.
"Strong enforcement is required to protect American communities from financial trickery in the name of profit." - Ruth Landaverde, CBB member. ...