What the ??? Wells Fargo!

Wells Fargo has been in the media quite a bit recently for terrible things the bank has done to their consumer clients and employees. It will be interesting to see how this all plays out…this is another example of how a powerful large bank has taken total advantage of consumers.

I’m writing this after watching a television commercial…which recaps this (from Wells Fargo’s website):

wells-fargo
So this giant big bank thinks that they can simply apologize for their terrible culture of taking advantage of consumers and firing employees who had ethics by doing some prime time commercials and now doing what they should have always been doing?

From Fortune.com regarding Carrie Tolstedt who apparently headed the division of Wells Fargo who took advantage of their client’s trust and who seems to be receiving a sweet payout (reward) in her retirement from Wells:

“Tolstedt, however, is walking away from Wells Fargo with a very full bank account—and praise. In the July announcement of her exit, which made no mention of the soon-to-be-settled case, Wells Fargo’s CEO John Stumpf said Tolstedt had been one of the bank’s most important leaders and “a standard-bearer of our culture” and “a champion for our customers.”

I’m dumping my Wells Fargo account. In my opinion, they don’t deserve a second chance with their wrong doings and rewarding this culture.  It’s too late to “make things right” when they reward what they did wrong.

Read more here from the LA Times.

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