Wells Fargo has disclosed in a recent SEC filing that they are under investigation by the CFPB for checking account practices. Specifically the investigation is over how Wells Fargo disclosed how often a debit card needed to be used to receive a monthly fee waiver. Wells Fargo has previously agreed to a $142 million class action settlement over the practice of unauthorized account opening and have also previously disclosed that they are under investigation by the CFPB over whether customers were unduly harmed over the practice of freezing or closing accounts due to suspected fraud.
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BB&T is even worse.
Total screwups.
No more guilt (if there ever was) for churning WF bonuses & a potential settlement check!
WF still stuck in this PR mess. Sheesh when will they learn.
WF should just disclose every thing they’ve ever done now. Rip the bandaid off.
I’d like to investigate where the next round of free $400 bonuses is.
(Saw $200 being offered recently, hopefully that means BAU about to get going again)
WF finally realize that the only way to get people to sign up their checking accounts is to offer them $200-400 cash bonus
As a Portfolio customer, I’m actually content with my banking relationship, but I what I actually mean to say is
FUCK BANKS FUCK WELLS FUCK CFPB AND FUCK ALL ACRONYMS!!!
So in other words, FBFWFCFAA?
FUCK YOU WF!!!
All of em is scam. Look at Scott tucker, Valeant, HSBC and Chase, RH/CItadel Big money just plays with dumb money. In BTC we trust.
Isn’t this disclosure just in preparation for Biden’s nominee for next CFPB director?
Might also want to cite the actual SEC filing for this so that your readers aren’t digging around on random websites like forbes for details: https://www08.wellsfargomedia.com/assets/pdf/about/investor-relations/sec-filings/2021/first-quarter-10q.pdf
The CFPB is also concurrently investigating “whether customers were unduly harmed by the Company’s historical practices associated with the freezing (and, in many cases, closing) of consumer deposit accounts after the Company detected suspected fraudulent activity (by third parties or account holders) that affected those accounts.” (Lots of banks do this.)
Ah CFPB, the most useless toothless organization.
You say that but everyone is up and arms when someone proposes to actually give them power to do something.
CFBP got FISERV to return 6 figures in less than 2 weeks that wf refunded while trying to fuck me out of billpays they decided to return months and years after processing. CFBP is not useless or toothless.