Is it true that we are exiting this business? A friend of mine said it had been poorly managed for many years and we are now putting the final nail in the coffin.
9 replies (most recent on top)
Saul had an ask me anything today. Wouldn’t you want to hear it from him?
they no longer do helocs and haven't diner personal LOCs in years. it's a dying product especially with all the alternatives out there like buy now pay later. heck, even on my credit cards I can turn a large transaction into a fixed term loan.
They had long history of being poorly managed. Every time they tried to grow it, the losses went off the chart.
What I find interesting is Wells Fargo is no longer doing HELOC’s.
Wells Fargo would rather you refinance your mortgage and take out your equity. A big Susie Orman no-no
i never understood why people would apply for these. I will occasionally get personal loan offers in the mail and am always flabbergasted by the terms
Emerging online banks have better terms and you don't have to visit a empty bank in person where one remains open simply as this
Currently Personal loan representatives still welcome calls for Personal loans, must be $3k or more. Currently customers still respond to flex loan invitations sent to them by Wells Fargo. Currently is the keyword, who knows what the future holds.
This is strange that it’s being brought up on here because I heard this the other day. Maybe it’s true…
Is there a business we're not exiting?