Originally published at: https://boingboing.net/2018/08/21/wells-fargo-closes-account-of.html
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How is Wells Fargo still a thing?
They seem to be leading the charge, even ahead of Google, to be as cartoonishly evil as possible.
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I’ll say it again: if I had a million dollars I would open a bank that serves the legal marijuana industry. I’d make money hand over fist.
Hand. Over. Fist.
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Translation: We rely heavily on government bailouts when our illegal acts tank the economy, so we’re not going to look that gift horse in the mouth.
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You mean this Wells Fargo?
Nah, not hypocritical at all.
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I’m with you. If we can find 8 other people, I bet we could do it.
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Better make it 9, unless you think we can get a place that will let me use Boba Fetts for collateral.
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Campaign contributions account with Wells Fargo?
IRL competences check fail.
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Maybe they were getting too much pressure from their clients in the illegal drug industry?
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I find it weird that a company headquartered in San Francisco would be so anti-weed.
I also find it weird that such a greedy company, obsessed with making money regardless of the law, all of sudden draws the line at money from marijuana.
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Oh No no no. You must mean the Wells Fargo that disregarded the blanant cartel drug trafficking money laundry and bought Wachovia’s and said, “Let’s do business with them and their drug gangs!”
You mean that one.
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Just in case there was any doubt that Wells Fargo is “not cool”.
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It’s okay, because they then opened three new accounts for her. They just didn’t tell her.
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The justice department has threatened to go after any bank that deals with the legal marijuana business.
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I’m glad Nikki Fried isn’t on the ballot where I live, because I’d have to take a long pause before voting for someone who still had their account with Wells Fargo. That said, good luck to her!
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Wells Fargo acting like assholes?
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Skirting federal banking regulations worked so well for Wells Fargo the last time, I’m sure all right-thinking people expect them to just go ahead and do it again! I’m all for massive federal drug reform, but I doubt any bank would do any differently under the current rules.
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She should use a credit union. Since they aren’t FDIC insured, the ones in Colorado, at least, have decided that MJ money is okay.
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Yeah, but it seems like they really went out of their way here. Banks aren’t usually that proactive about probing the details of their customers’ business, even for loan customers. Because, why spend time and money to go looking for reasons to turn customers away? Plus, next time a Wells Fargo customer is found doing a crime, they’re going to have a harder time explaining why they didn’t notice anything fishy about his $20million/month pet grooming business.
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Blame the government here. They have taken to attempting to cut off any business they don’t like from the financial system, never mind what that pesky piece of paper aka Constitution says. It’s not worth the risk to Wells Fargo to knowingly deal with drug money.
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