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
washingtonpost.com
The bank reported Friday that although the fine drove down its first-quarter profits by $800 million, it still netted $4.7 billion.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?
Wells Fargo fined $1 billion for insurance and mortgage abuses
money.cnn.com
Two federal regulators are fining Wells Fargo $1 billion for forcing customers into car insurance and charging mortgage borrowers unfair fees.
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 😪
Wow
Shut them down already
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.
Banking group slams Mulvaney, demands stronger CFPB
mpamag.com
The acting director's determination to keep a light regulatory hand has angered some bank workersLet's protect bank workers and our jobs! #BetterBanks
Banks send thousands of call center jobs overseas each year! Call 888-659-4149 and tell your member of Congress to support the U.S. Call Center Worker and Consumer Protection Act,HR.1300.
After several years of a yo-yo employment situation at the BB&T call-center in Allentown, Pennsylvania, the bank announced it will be closing the location for good.
Wells Fargo isn't the only bank closing call-centers. What are your thoughts? Do you think these closures are a result of the off-shoring of call-center jobs? #BetterBanks
While cutting 50 jobs, BB&T says it remains committed to Allentown
mcall.com
Jobs have come and gone at BB&T's Allentown regional hub. The latest: The bank said Thursday it is closing an Allentown call center and cutting 50 positions.