Sept 12 (Reuters) - The U.S. Office of the Comptroller of the Currency said on Thursday it had issued an enforcement action against Wells Fargo
Shares of the bank fell 4% in afternoon trading.
22 replies (most recent on top)
Hahahahahahahaha
So many sc-mbags, deadwoods and bi--hes in Wells Fargo nothing never ever changes. There has been a magnet for frauds, embezzlements, fakes and scams by the bank employees. Wells Fargo has gone down the toilet as a result.
I worked in fin crimes for a few years before moving to another role. All of the same execs, save for a few, are still here and have been for years, some going as far back as the 2015 consent order. None of these incompetent people ever get fired. It’s almost like working for the government.
DF will be gone by end of the year. The memo was a weak attempt to save face.
So they should rethink watering down the P&P to make it easier for India lol because that’s what they are doing.
I think you have to start at the top. Charlie has had 5 years, he can't keep blaming Carrie Tolstedt or the 2k employees in fin crimes. Just like he brags about efficiency by sending jobs to India and closing branches/locations - he needs to be held accountable for this garbage.
We have something like 2000 people devoted to fin crimes and we can’t figure it out. OCC nailed us in 2015 for similar issues and that consent order was only lifted in 2023! Is it not time to fire all these losers?
Perhaps the 3 non employee board members required to oversee this will be a catalyst for new management. Not that it's a guarantee we'll be better off; most companies are trying to rob their employees it seems.
I know a lot of people hate Charlie for different reasons BUT I am beginning to have serious doubts about him as a leader. He is a grossly ineffective.
Hopefully they let them know India is doing the triage related to AML/Fraud cases.
Notice how the announcement wasn't even from the CEO? Charlie was like, "don't put my name on this. Scott...you're my hatchet man, you send it." hahaha what a toad.
Wf can’t even manage a century old risk. lol.
September 19, 2019 - the date chainsaw was hired. You would think he would be fired by now, instead we pay him $26 million.
You think the new Starbucks CEO hired to fix the company would be around five years later if he didn't?
Bag him already.
This will be fixed faster than you can take a sip of your coffee.
Branch employees receive too much coaching around filing service complaints around wait time comments when they should be more focused on filing UARs. Blame middle mgt.
Flowers should retire.
Internal memo is exactly the spin and the evidence of corruption on full display.
Billions spent on RCSA and thousands of risk people yet still finding deficiencies. Anti money laundering is hardly a new risk. Nor is it even that complicated. So, what's the excuse for WF to still be unable to conduct basic risk practices?
lol, another W for Charles and his friends. More $ to the OC
Wow… the communication sent to employees makes it sound like we reached some type of resolution on an outstanding issue when in fact this “agreement” relates to a new issue just announced today. That is some next level PR spin!
Chase cronies.
How does Shart and his handpicked leadership team still have jobs after five years of this?