Stumpf Prepared Remarks: ‘I am deeply sorry’ But Won’t Resign

Stumpf Prepared Remarks: ‘I am deeply sorry’ But Won’t Resign “I am deeply sorry that we failed to fulfill our responsibility to our customers, to our team members and to the American public. I accept full responsibility for all unethical sales practices in our retail banking business. I am fully committed to doing everything possible … Read more

Wells Fargo’s Chief Risk Officer in Charge of Phony Accounts Dept Takes Leave of Absence Day Before Stumpf Testimony

“The leave takes effect a day before Chief Executive Officer John Stumpf is scheduled to testify before the Senate Banking Committee.” ~ Wells Fargo’s Chief Risk Officer for Retail Bank Takes Leave Wells Fargo & Co.’s top risk manager in the division where bank employees are suspected of falsifying more than 2 million customer accounts … Read more

Mitchell v. Wells Fargo Bank NA: Wells Fargo Faces Class Action Over Bogus Accounts

Mitchell v. Wells Fargo Bank NA: Wells Fargo Faces Class Action Over Bogus Accounts Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank of fraud and recklessness for its behavior. The lawsuit was filed in the U.S. District Court in … Read more

Watch: Working the Lobby at Wells Fargo

Working the Lobby at Wells Fargo A series of cutting animated videos blasting Wells Fargo’s sales incentives are getting a new life online in the wake of the bank settling federal regulatory probes that found its employees created more than 2 million bogus accounts — slamming customers with $2.6 million in fees — in order … Read more

Watch: Wells Fargo Jump Into January 2011 Customer Interaction

Wells Fargo Jump Into January 2011 Customer Interaction A series of cutting animated videos blasting Wells Fargo’s sales incentives are getting a new life online in the wake of the bank settling federal regulatory probes that found its employees created more than 2 million bogus accounts — slamming customers with $2.6 million in fees — … Read more

Watch: Wells Fargo Jump Into January 2011 Morning Huddle

Wells Fargo Jump Into January 2011 Morning Huddle “If tellers and bakers make those sales numbers at the end of the month everybody in the branch will get a $5 gift card to McDonalds,” the manager says in the video. “The district manager will get a $10,000 cash bonus, and the community banking president executive … Read more

Animated Videos Might Doom Wells Fargo

Animated Videos Might Doom Wells Fargo These short videos won’t win an Oscar, but they might get Wells Fargo CEO John Stumpf nominated for some sort of acting award. A series of cutting animated videos blasting Wells Fargo’s sales incentives are getting a new life online in the wake of the bank settling federal regulatory … Read more

Americans are flipping homes like they haven’t done since before the housing crash

Americans are flipping homes like they haven’t done since before the housing crash Home flipping in the US has hit levels not seen since the peak of the housing bubble. According to Attom Data Solutions, homeowners in the second quarter flipped 51,434 houses, meaning they resold them shortly after purchasing. Attom based its analysis on … Read more