Wells Fargo: We can't be sued for lying to shareholders because it was obvious we were lying


#21

We can’t be punished for dragging the C-level execs from their beds and executing them on their gated lawns because it was obvious that’s what they wanted us to do.


#22

Man, I wish statements like, “I promise to pay back my student loans,” were extremely vague, too. “I can’t be sued for defaulting on my loans, because it was obvious I was going to default on my student loans.”


#23

Wells Fargo should be busted up and the board of Directors and Upper Management sued for ever cent and put in prison. People trusted them and they lost home, cars and went bankrupt. They tried to open a credit card in my name when I went to them for help and advice. I canceled the card immediately. After 20 years with them I still have to have my paycheck approve by a supervisor and then it two days later before my money is in the bank.


#24

“If anyone reading still banks with a commercial financial institution…”

FTFY.


#25

Beautiful. This is exactly how I refer to them with my kids. And now, when we’re in the local supermarket (Safeway) where the criminal enterprise has a branch, the kids look upon them with disdain, asking how come those guys behind the counter in the suits aren’t in jail. How should I reply? “Cops will be here any minute!” Or, “Go ask 'em.” Or, “I heard their court date is next week.” Or… What else you mutants got?


#26

“Those are just the street thugs. The police are going after the bigger fish.”

Or,

“Forget it Jake, it’s the Chinese food aisle!”


#27

Well, it works for Trump and the Republicans.


#28

i’m sorry, but isn’t “kleptocracy” the word that goes there?


#29

Thank you, I learned a new word, and I must say that is fitting as well.


#30

Too big to fail I suppose…


#31

Explain that those people working for them for low wages are as much slaves to the twisted corporate demonic entity and its higher-level human familiars as the customers. That would be the truth after all.


#32

Is there no other banking option where you reside?


#33

This is puffery:
https://goo.gl/images/tWCXuh

A CEO lying about his knowledge of fraudulent behavior by the company is not that.


#34

Wells Fargo has been lying about my 76 yr old mother not making her March and April 2008 payments for 9 yrs . Year 10 found them . Wells Fargo attorney while case was in Appeals stole Sherriff Deed confirmed to JPMorgan went to local police and @remax agent who stole the property , emptied the house for 12 hours while JPMorgan was on the phone telling them to stop stealing our stuff. Came back 10 days later and threw away everything outside .
Police handed @remax cash under the table and has our home .
WellsFargo didn’t do anything according to them , including turning over a stone .


#35

I have been with them for a couple of decades. Only reason is that they have more free ATMs in my area than anyone else; otherwise I would drop them in a heartbeat. I knew they were crooks right from the start when they wouldn’t open up my checking and savings accounts without also opening a line of credit that everyone involved agreed I didn’t need. It just blew my mind that they were held up as a shining example of integrity during the financial crisis. At least they are getting better at appearing reputable; I no longer have to listen to an upsell pitch every time I go into the branch to ask a question.


#36

They are buying your business with a small amount of convenience while engaging in outrageously criminal behavior elsewhere. So long as they can get away with that, they will continue to be profitable which keeps them as a functional entity. I agree with th poster upthread who suggested moving to a local credit union. We did so years ago and have been thrilled with the service and better interest rates even if they do have fewer ATMs in our area. In fairness, we rarely use ATMs, so not a big factor any way.


#37

True, and I’ll even let them wave off “we’ll leave no stone unturned” (though it would be much funnier to imagine Wells execs turning over actual stones).

However, the below statement, made to shareholders to whom they owe a fiduciary responsibility is quite another matter!


#38

Right? “Since my declared major at acceptance was English literature you had no grounds to think I’d ever be able to pay off that loan!”


#39

Exactly this.

If the number of ATMs is the issue, please know that in this day and age, many/most credit unions will reimburse you the fees that other machines charge. Further, you can use your debit card at the grocery store or warehouse club and get cash back in the same transaction. There is no reason to a) allow availability of cash machines or b) any other perceived conveniences deter you from ending your business with a criminal enterprise.


#40

Ah. So now, the opposite of puffery.

Deflatory!