The numbers behind Wells Fargo’s $3.7 billion settlement on charges that it wronged consumers by charging illegal interest and fees. ABC News Live Prime, Monday through Friday at 7EST and 9EST WATCH ABC News live here: https://www.youtube.com/watch?v=w_Ma8oQLmSM SUBSCRIBE to ABC NEWS: https://bit. ly/2vZb6yP See more at http://abcnews.go.com/ LIKE ABC News on FACEBOOK https://www.facebook.com/abcnews FOLLOW ABC News on TWITTER: https://twitter.com/abc #ByTheNumbers #WellsFargo #Settlement #ABCNLPrime
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What sort of penalty is a cash fine to a bank that is legally allowed to create cash…
Bank of America and Wells are the worse banks. Good finally somebody did something about this bank
Wells Fargo told FTX to hold my beer.
ABC these are the kind of stories you need to be covering. Use your connection to interview the CEO of Wells Fargo and grill him. That bank needs to be held somewhat accountable.
Sounds like FTX SBF learned from the best
HEAVEN OR HELL, YOU CHOOSE!
Whoever repents of all his sins (turns from sins) and calls on the Name of the LORD, will be saved! He who died on a cross for the sins of the world, rose from the dead on the third day, and by His blood, whoever repents and believes, has full redemption of sins and eternal life!
Today is the day of your salvation, repent and confess Jesus the Christ now as your Lord and be saved, because you broke the law but He paid your fine with His life's blood!
For those with understanding: Matthew 24:40-41 will take place very soon, this is the sixth seal. This is the generation of the harpazo, rapture, and behold you will witness the trumpet blast that will make the sky recede as a scroll being rolled up! Therefore, be ready and be the five wise virgins, do not be the five foolish virgins! (Parable of the Ten Virgins…)
What singular person, who has attained more than what is in his company, that is a bank. That company would bankruptcy, or say it is fair for them to pay back every cent that has been stolen. And damages to all individuals.
No, it has to be the exact amount stolen, and why should they skip each and every criminal charge. 11 million counts of grand theft auto, etc.
I had accounts at Wells Fargo with my wife for decades. I got divorced from my wife and Wells Fargo. My wife was a financial basket case and Wells Fargo was a garbage company. Glad to have all that nonsense in the rearview mirror.
Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.
If you want to find the real professional thieves just look at the banksters.
So bank rips off consumers, instead of the people responsible facing consequences, seems just to be a fine for the bank, which I doubt will hurt much. If I were the bank, I'd just raise rates on customers to foot the bill for the fine, and since there were no real consequences, just cheat smarter next time.
I got an idea let monitor someone tv and watch them go through the channels that way when they switch channels it will b like nope not here we play advertisments to keep strolling on and when u land on the next channel nope not here either we play nothing but advertisments to
Now go after chime
Amazing they had to break the law when banks get away with practices to legally screw their customers. Like having payments to credit card be due at processing centers as far away from their customer as possible. If the mail is delayed people are charged late fees and interest (not as big a deal with online payment). Like putting a hold on funds going into an account which should have covered expenditures, but processing those expenditures immediately. Processing charges out of order (from highest dollar value to lowest instead of in the order charges came in) to maximize overdraft penalties (something that I think as finally been made illegal). Charging more in fees than they pay in interest. And many others I am sure I don't even know about.
Bank of America previously charged me maintenance fees when I met the minimum requirements on account balance.
Still crooked….
Any execs going to prison? I'm willing to bet Wells Fargo made more than $3.7 billion they are paying out and are still coming out ahead. This is the problem with "consumer protections: in this country. Our "capitalism" in America is not capitalism at all, but a perverted reverse socialism where they wealthy are allowed to exploit the middle class with few consequences. A business can declare bankruptcy and not have to pay back its creditors, but it's owner, executives and/or board of directors can take money out of the company before declaring bankruptcy and keep it.
I know people who have accounts in Wells Fargo bank, and have had overdraft charges from the bank making mistakes, and overcharged account fees, yet still stay at the bank. I try to tell them of the benefits of credit unions, especially the bigger ones that have multiple ATMs around town, and how most CUs have no account fees at all, and no ATM fees either.
I'm not rich enough to waste money at Wells Fargo bank.
How the F#%K is this company still in the financial business after opening all those accounts not that many years ago. They should have been barred from working with others money after that first rip off. Are these guys the Donald Trump of the financial industry? Just blatantly breaking laws over and over in the open and not paying consequences? And being supported by the dumbest people in the country? You can't be very bright to give them your money after all they've done to steal from their customers.
Your explanation is realistic and straight to the point. On the other hand there are many ways of manipulating the market, I was able to grasp the knowledge of trading crypto assets early enough, but i was still limited due to my lack of technical understanding of how to analyze the digital market , all that changed when i encountered (coachwong) strategy. more emphasis should be put into day trading as it Is less affected by the unpredictable nature of the market.
I'd take all my money out of Wells Fargo
WHAT'S WITH THE MUSIC?
So am I getting all my fees back? When they would charge me $10 a month for not having money?
Tried to close out my Wells Fargo account online but couldn't because there was still $0.98 cents in it. I wrote it off. No big deal.
Then got a email saying I owed them $10.00
Bunch Of Crooks.
rhanks for the tiny new report.
We all know that wells Fargo and bank of America had all been cons and thieves. What's everyone gonna get back $5.00
Wells Fargo just needs to be shut down and no longer allowed to do business.
Good They need to pay.
It makes you wonder like how many other banks are doing this and we just not picking up on it
Wow
Has always confused me why we don’t do something about Wells Fargo for good.