#sec

I left this company a long time ago for a tech company, and remained a customer of this bank.

After a very lengthy, confusing, and almost incoherent call with a Wells Fargo employee recently regarding my investment accounts. I was left with more questions than I have answers. Not only could the individuals not assist me, It felt like they were following a script. No answers were provided, and My buy order was never placed. Just left a very sour taste in my mouth and led me to some other questions.

I hope this was a one off experience, But doubt that based on the employees I spoke with coinciding with the banks reputation Of being a habitual offender. It made me wonder who is looking at My personal information, specifically account activity, and info?

It was very difficult to understand these employees which makes me think they are not located in the states. it seemed each employee I spoke with had a different answer, even though I was asking the same question. Furthermore, if in fact, these employees I speak with are not located in the states I don’t feel comfortable with them reviewing my personal information, along with my investment account information.

It bothered me enough to where I had to do a little research and came across this site. let’s just say I am appalled, and conflicted at this company’s business practices or lack there of. Once I hung up, I could not help but wonder who is reading this information and how are they able to provide support if they are offshore?

It seems as if there is no risk or control framework in place that protects stateside customers. I felt very uncomfortable having to verify my information to someone from a Third World country where fraud is rampant, and supporters of Russia.

After reading the comments on this site. I am convinced that customers data is visible too all employees outside of the USA? After reviewing the comments on this site. It sure seems that way. I mean, how else would the employees I spoke with verify my information? Does this company not have any sort of information barriers or data governance policies in place? Another big concern of mine is, why am I speaking with someone located out of the states, supports Russia, and barely speaks English yet has a name like chuck.

I find it shocking, unethical, and risking customers information here in the states To save on labor costs when those savings will be paid to regulatory violations, if this bank is truly not protecting their customer data.

The sentiment alone on this site paints a picture of how risky it is. It really seems like there are disgruntled, employees, offshore, and stateside, and nobody knows what they are talking about.

I have been banking with this company for years But after my most recent call with this company, I find it too risky to continue doing business with them. I was never provided an answer to any questions, my buy order was never placed, and now it seems Offshore employees who support Russia’s war effort had full access to my information.

This is completely unacceptable! As a customer, and stakeholder, I am appalled! This has to be the most riskiest operating model I have ever Come across. I am not comfortable with my information, going offshore, especially information related to my investment and retirement accounts.

This experience coinciding with the recent report of the stress test, I Will be moving my money to a more secure institution. It has been many years since I had worked at this company But this is just risky, unethical, and morally wrong. When I hang up the phone with someone who has my sensitive information and access to my accounts, it made me lose sleep.

My next phone call will be me instructing them to move my money to another account at another company.

It’s a shame that this company has sacrificed talent for cheap labor. Let’s not forget they are also supporting an economy that is not the United States. It’s easy enough for me to take my business elsewhere. For a company that is trying to rebuild its reputation yet continues to be a habitual offender on regulatory matters, I guess my risk appetite is not as big as theirs. or they are just stupid! Spread the word, I know I will. Where the heck are the regulators?

#SEC
#WFC
#Ethics
#FutureEnron
#2025
#2024
#REGULATORS!
#Loopholes
#Anti-American
#Investing
#Banking
#CFPB
#OCC
#WellsFargoBank

How much more talent will Wells Fargo lose with their bullying tactics, offshoring US Domestic jobs, while they lack efficient risk management & controls at the same time? How can a CEO talk about being more efficient when his strategy has been proven to be unsustainable and fails (offshoring).

When will the BOD or Shareholders wakeup! You should be pi---d. The CEO is only positioning the company for “short term gains”, if any. Offshoring jobs for cheap labor is a way to make the balance sheet look good over the short term. Meanwhile the cracks have begun to appear. The CEO will leave this company worse than it ever was.

His offer letter provides him a golden parachute after 5 years in his role. Do you think it is a coincidence that the “assets cap not being removed until maybe 2025” was leaked? Clearly, This leak is to drive a narrative for the CEO who will leave next year per the terms of his offer letter, and the asset cap will remain over the company.

The guy has accomplished nothing but more fines and lying to shareholders and customers. Someone with that authority do something! He is creating more risk, the cracks are beginning to appear and affect our customers. The stock price has been the worst under this CEO.

WAKE UP PEAOPLE!! Hiring offshore does not make the company more efficient! It does the opposite, and creates risk! Offshoring also does nothing for the US economy. All those shops and restaurants that want employees to fully return to office don’t understand that it will not happen. Just look at all the building consolidations. That shows that the Strategy is not about collaboration, or better together, or any of that. IT IS ABOUT REDUCING COSTS BY FIRIBG US EMPLOYEES AND HIRING CHEAP, UNQUALIFIED LABOR TO DRIVE THE NARRATIVE THAT “THE FIRM” IS MORE EFFICIENT.

All the Shartman is really doing is making sure it looks like he cut costs, and reduced headcount while he approaches the end of his 5 year agreement stated in the CEO’s offer letter. He will then leave, and the conpany will continue to crumble from the severe harm and toxic workplace created by this chump. Someone standup! All the red flags are there. Wells Fargo is now the company to pay the highest amount of fines ever. BILLIONS OF MONIES that could have gone to investments, employees, and shareholders because of CURRENT LEADERSHIPS FAILURES.

Here is an inside look at how offshore is working out at “THE FIRM”.

https://www.cnbc.com/2023/08/14/employees-in-asia-are-spending-the-most-time-looking-busy-at-work.html

WE NEEE A BOARD AND LEASDERSHIP THAT UNDERSTAND THE BENEFITS AND EFFICIENCIES BY UTILIZING TECHNOLOGY WITH QUALIFIED EMPLOYEES. THAT IS HOW YOU TRULEY “DO MORE WITH LESS”.

MAYBE SOMEONE SHOULD FORCE THE CURRENT CEO, SENIOR LEADERSHIP, AND THE BOARD OF DIRECTORS TO DO “MORE WITH LESS”.

#WellsFargo
#WFC
#REGULATORY
#HABITUALOFFENDER
#2023
#2024
#2022
#2021
#2020
#2019
#Markets
#Banking
#RISKMANAGEMENT
#Offshore
#Failing
#Liars
#Outofpocket
#getsteppin
#powercorrupts
#corporategreed
#CEO
#Leadership
#SEC
#WSJ
#CFPB
#Inequality
#greed
#CSuiteSalaryReductions
#BOD
#Downgrade
#WellsFargoBank
#Technology
#AntiAmerican
#SmokenMirrors
#redflags
#stopthemadness
#Schart
#Sharted

This is for the haters, trolls and non believers. So, Read it and weep Trolls. Just the facts!!! The are outsourcing risk and compliance rolls! Lots if UGLY TRUTHS. Any other employee would have been fired. Keep driving this FAKE NARRATIVE of making progress.

Here is PROOF!?? Link to pdf:
https://pdfserver.amlaw.com/legalradar/pm-50684461_complaint.pdf

Below is a blip of what is contained in the filing.

“87. The March 2020 Congressional report also faulted the Board of Directors for allowing management to "repeatedly submit materially deficient plans in response to the Consent Orders." Report at p. 36. It noted that Wells Fargo submitted multiple deficient plans that required board review and with regards to plans required by the
OCC, board approval) in response to the 2016 Sales Practices Consent Orders. The Committee staffs investigation revealed that the CFPB and OCC repeatedly rejected the Bank's compliance and redress plans required under the 2016 Sales Practices Consent Orders as incomplete or otherwise deficient. The Report noted that Wells Fargo's Board was directly involved in the process and was specifically told what needed to be done to comply with the consent orders. 27

88. The Federal Reserve's staff even held one-on-one sessions with several of Wells Fargo's directors. 28 Still, the Board of Directors failed to ensure compliance with the consent decrees. For example, on April 3, 2018, Wells Fargo made its first submission of plans for board effectiveness and risk management under the 2018 Federal Reserve Consent Order. "Despite receiving consistent direction from Federal Reserve staff on what sufficiently detailed plans should include, Wells Fargo's first submission of plans for board effectiveness and risk management, made on April 3, 2018, fell woefully short of the Federal Reserve's expectations."29 In a May 7, 2018 response letter, Federal Reserve staff informed Wells Fargo that its submission was so "materially incomplete" that the plans, "cannot be evaluated by [Federal Reserve] staff.”

Brrr, BBrrrr….. oh wait, I think someone is Scharting their pants right now.

Everything posted here is public information.

#WFC
#SEC
#WELLSFARGO
#layoffs
#Banking
#2023
#Fargo
#WELLSFARGOBANK
#FINANCE
#DIVERSITY
#Technology
#Bank
#Assetcap
#Brokers
#Investing
#FACTS
#WELLSFARGOPROBLEMS
#BOD
#CEO
#HIRING
#ETHICS
#Risk
#DE&I
#Compliance
#News
#2023
#2024
#Shareholders
#stakeholders
#Awareness
#Banks