Why is CEO of Wells Fargo John Stumpf still there after the revelation of massive fraud?
A disturbing news of 5300 Wells Fargo employees being fired for creating fake customer accounts. A large fine was imposed on the company but no criminal indictments as yet. Why is the CEO of this company still there? And getting over $6 million salary?
The same way drug lords and mob bosses often evade prosecution, by having their middle management/subordinates arrested while saying "that's the person who did the wrong deed, I was busy with higher level things".
Yes, so true. What gets me is the fine goes to the government. What about the poor victims of this criminal activity? Shouldn't they get the refunds?
Tamara, you left out, the same way all the bank and brokerage CEOs who actually caused the crash of 2007 evade prosecution, the federal government hacks like Lerner and Koskinen. They all evade prosecution because they are the "ELITE!"
The one good thing is that Warren Buffet took a sizable hit to his fortune and so did his foundation. The DOE shuts down schools when they don't meet req. Why doesn't the DOJ, and the IRS shutdown Wells Fargo?
Welcome to unfettered capitalism. This is what happens when you don't have any regulations to prevent corruption and greed. Those that don't like regulations, say that capitalism is self-regulating. Tell that to those who got ripped off.
Mike, there is plenty of regulations on the banks. The problem is, the regulations does not prevent people from doing criminal acts. Especially when these white collar crimes are not prosecuted. Let's just apply the laws to these CEO's and see...
by Susan Reid6 years ago
Q: Why does it take 45 minutes and 3 phone calls to deposit a WELLS FARGO BANK CHECK at Wells Fargo?A: Because we're Wells Fargo -- and you're not!That's pretty much the answer I got when I went into my local Wells...
by Doc Wordinger13 months ago
Hey,Do any non-US citizens know how much Wells Fargo charges when a foreign bank sends a USD check back to them for collection?I live in UK and receive a couple of checks each year from the Amazon Affiliate program in...
by NatNatNC4 years ago
What are your opinions on banking with Wells Fargo and BOA?I am currently with BOA and thinking about going to Wells Fargo. Interested to hear some feedback. Thus far feedback for Wells Fargo has been negative.
by Leta S9 years ago
What do you suppose that means?
by Paperfly6 years ago
Wells Fargo is going to charge $3 a month for people using debit cards. Will you switch banks?They are rolling out a test prgoram in 4-5 states. Other banks may soon follow if this is successfull.
by platinumOwl46 years ago
Why is Wells Fargo Bank paying 85 Million in penalties to the Federal Reserve Board? This money should go to the African-American who were led to expensive sub-prime home purchase loans. This is a business tactic...
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