Sounds like some good news for us today and the outlook for removing the asset cap?
If you like this, upvote. If you don’t like this, downvote. Always funny to see how many people do t want to see their company do well.
16 replies (most recent on top)
not my company anymore... fu-k em
@2nry+1uHXlSMV
You assume too much. I don't want any bank or institution to get away with crooked moves. But they should not cause an entire hiring process on the fed end which will then never dismantle. Yes, I will say it again, vote for the party that dislikes big government. You don't like the choices, well, I never said I did. But if you don't like big government, you have only one choice.
@1zpe That’s just pathetic. All the things that occurred and you take issue with regulators having a dedicated resource to oversee this once awesome company that devolved into THIS?? The second bank of India with data breaches and (I’ll say it) auto-enrollment into Paze without EXPRESSED consent, the Bilt card debacle where we are hemorrhaging money and outsourcing our risk and audit roles to a 3rd world cntry that borders on being defined as a criminal organization??? You think your post is going to make me consider voting for a criminal blow hard? 🤣 Just so we can have less oversight?!? You must have stock options that don’t vest until the cap is lifted because you do not care about the average hard working american that IS honest and never deserved having accts opened without consent to boost reports, to strengthen stock prices, to reap obscene bonuses while workers were collateral damage. Tsk, tsk.
OCC just said we’re in even more trouble. Where are you getting this optimism
This is certainly interesting news.
I am optimistic!
Cheers!
Haven't they done this before and been rejected?
the bureaucracies are so large that there are those HIRED just to stay on top of Wells. Do you think they are willing to lose their job? When you vote, please vote in favor of the party that dislikes big government.
Please fed here is all we have done to strengthen our bank. We promise we will be good. We have a strong audit department and a really big policy book. We won't bully our clients any longer and create fake accounts for them. We are good to our clients and our employees.
So it’s an ask to remove one (the biggest) of several enforcement shackles. I suspect it wouldn’t have been submitted just to get rejected, though I could see the thing getting a few follow-ups kicked back. Eventually the cap has to get removed. Then we… learn how to lend again?
Who is the third party and how much are they being compensated? If you ask me, it’s a shallow attempt by management to cover up.
We received an enforcement action recently and there are other consent orders that need to be addressed.
https://www.occ.treas.gov/news-issuances/news-releases/2024/nr-occ-2024-99.html
https://seekingalpha.com/news/4153746-wells-fargo-submits-vital-review-in-process-to-end-asset-cap-report
https://stocks.apple.com/AiX68RuMiSJaODdio_Syj6Q
Is this, folks, is why our economy is struggling. Stop blaming republicans and democrats and realize we only have ourselves to blame for being lazy and not team players.
OP, why the F should we care about the company when we haven't been incentivized through stock-based compensation like the c-suite has?
We are just wage slaves. Should we cheer charlie when he reaches billionaire status when are meager salaries haven't even kept up with inflation? Stop being a f'ing pleb. Just STFU
Maybe you could share the actual news, because I have no idea what you're talking about.