"Senator Sherrod Brown of Ohio, the chairman of the chamber’s banking committee, rebuked Charles W. Scharf for the bank’s continued problems."
https://www.nytimes.com/2022/05/31/business/a-senate-democrat-wants-wells-fargos-ceo-to-fix-its-problems-once-and-for-all.html
As business people, we need to be intellectually honest here. That exec who talked about reputational risk was right, even if you don't like it. There is a lot of freedom to do things that are "unsavory, but profitable" when you don't have to worry about protecting your reputation. Which company can move faster, one that has to take great effort to protect its reputation, or one that does not have to take that effort. Think about that.
Nothing more than a threat to keep the asset cap in place until we hire a bunch of unqualified people and make a bunch of cr-p loans to un credit worthy people. Politicians should stay out of banking before they crash the market.
This is what happens when DEI outweights everything else at WF.
As one senior executive told us, "Today, Reputational Risk is no longer the consideration that it was in years past".
Its hard to tarnish something that nobody expects to be clean in the first place.
Why is it a negative light that Wells Fargo always seems to be standing in? Other banks seem to have the gov happy. Just more WF shitshow for sure.
These peeps need to go to payday loan places and leave WF alone
Nonsense. These peoples financial situations carried too much risk for WF. Enough with the race baiting. Find a lousy lender to underwrite you McMansion
In other words..
give uncredit worthy loans based on skin color so we can have a repeat of 2008
give jobs based only on skin color so we can destroy the company inside out
the bank is very profitable, you haven't provided enough bribe money
He. Doesn't. Know. How.