Two years after Charles Scharf said that Wells Fargo was focused on restoring its brand with clients, regulators and lawmakers, the bank is still working on it and public relations specialists say there remains a long road ahead.
https://financialadvisoriq.com/c/3529124/449724/what_next_wells_fargo_rebuilds_reputation
@1mxq+1fFgX9br
Cards are physical security for digital currency - do you mean crypto? Because when you buy something with a bank card or credit card, you are doing a digital transaction. The card is to verify you are who you say you are, so they can approve the transaction. On top of this, you can save your card into wallet apps and use them in a lot of places as well - that would be a digital transaction as well.
@1mxq+1fFgX9br
Crypto is about to be heavily regulated. Some reports of the US Govt introducing their own as well.
they need to get into digital currency
i stopped with checks dont really like cards either, digital has more security. While the banks do a great job identifying fraud when it happens in these accounts, the thing is it is after the fact. Then you have to get new cards/checking, good thing is they can get your losses back.
Wells Fargo will never have a good reputaion. What this company has done is to well known. The only way forward for this bank is to re-brand.
@cnk awfully bold of you to assume they can function in jobs above that.
Thankful I closed my WF accounts when I did. I don't know why any customer would trust this bank until top leadership is cleared out
Love the Wachovia sour grapes. You garbage institution failed, get over it.
Need to rebrand as Wachovia and be done with it. If you were around when WF bought Wachovia you will be laid off. Everything solved. Well, not RTO but hey, you can't have everything.
And I thought that dropping the stagecoach and changing colors would fix things. Banks just can do or undo what Wells Fargo has done. Not making harmed customer whole doesn't help either. It's terrible that the bank has not been given a stop business order by the regulators.
The most telling line in the story is:
“The innovations she tried to implement didn’t sit well with some of the firm’s staff, the Wall Street Journal reported last week, citing sources familiar with the matter.”
I like how the source said “staff” rather than “leadership”. Since when does “the staff” have anything to say in what innovations the bank implements? Let’s call a spade a spade: she tried to get Charlie to place our customers’ needs and his employees’ engagement above his own. We just can’t get the concept of putting our customers first. We will never repair the bank’s reputation until we put the correct person at the helm.
Secondarily, I have empathy for any woman who has to try to go up against The Boys Club around here. They can preach diversity in all the meetings, make us take classes, set hiring goals, etc. But true change starts with the actions (not the words) at the top. The Boys Club today is no less entrenched than it was 30 years ago.