The bank I referred to yesterday is Wells Fargo. I’m in the process of closing out all my accounts there. It’s really just to simplify my finances, but I could have justified it with the never-ending stream of scandals coming out of this bank.
Says Huffington Post: ‘To any reasonable person, Wells Fargo is a rolling disaster – a ripoff, wrapped in a swindle, inside a bank’. And: ‘Wells Fargo’s very existence, not to mention its continued profitability, is an indictment of two decades of embarrassing regulatory oversight from four separate administrations‘.
Among the scandals: millions of new accounts in customers’ names without their consent, wrongly repossessing 27,000 cars, and foreclosing the homes of 400 families for no reason.