Wells Fargo are thieves who steal from their customers. If you use them, you're about 15 years delayed in getting out. Security issue.
this post was submitted on 22 Mar 2025
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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.
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.
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.
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.
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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.
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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.
Yeah and you think that the current federal government would allow the USPS to compete fairly with the private corporation that their buddy owns?
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.
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People, shall we plot to eliminate Wells Fargo as a banking entity? Sign up for a local credit union instead, perchance?
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Seriously FUCK these guys who think everything should be run like a business
For anyone thinking it. I can confirm it feels great to close your wf account.
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