Carrie Tolstedt and her managemnt directives cost me and my family so much - we paid in stress, lost health, and lost wages.
She should pay for that.
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Truthfully, I have loved every minute of watching Elizabeth Warren, Maxine Waters and others tear in to our former gutless execs. I wish they would do it more often and put a few more up there too. Would love to see Carrie Tolstedt get questioned publicly for a couple hours. The Senate revealed our former leaders to be the clueless entitled abusive narcissistic criminals that they were. John Stumpf with the bandaged 🖐 was worth a million bucks.
Warren was after the banks long before she ever ran for office.
She has been dogging the other banks, Citi and BofA, sure, we're all giant crime rings, but Wells created hundreds of thousands of fake accounts and blamed it on tellers.
That's the kind of banking scandal Joe Six Pack can understand, so of course she beats up on us.
I'm surprised that there are so many in denial here. We've been committing crimes against our own customers for years.
Stay safe and be more self aware.
@hpt The problem is that Warren is over the top when it comes to Wells Fargo. She gives the other big banks a pass. If you think they haven't done some shady sh– as well, you simply aren't paying attention. Yet Warren focuses her attention only to Wells Fargo. So yeah, she is causing some additional problems. However, WF executives should shoulder the bigger part of the blame.
I am hoping those who are blaming Elizabeth Warren are non- employee political trolls and not actual Wells Fargo employees. If these ignoranuses actually work here, we are in bigger trouble than I thought.
The anger toward Warren I think is some what justified. She’s pushed this idea of the evil rich banker cheating the working class for a presidential bid to a fever pitch. Most Wells Fargo employees are the salt of earth, the avg employee makes something like 65K a year. If they’ve fired every wrong doer at the company, and most 5-7 years ago and changed management 4 times over what more do they want? Regulators and industry for many years pointed to the bank as the best run in America. Then you get one of the top presidential candidates screaming and yelling and making a show of a sales scandel and regulators are running thru the bank lightening it up with excessive MRA and MIRA’s. Its horrible to thank that tens of thousands will be out of work in the middle of a pandemic that has a questionable end point, people could be out of work for years or worse. Her actions were excessive to say the least. And by the way Quest Labs s—s.
They're going to move as much to EGS as possible – a lot of tech. That's been the MO of many large companies while Wells has done some, nowhere nearly as much as other companies. What's hilarious is like many things the pendulum will swing way to the other side. How many high priced consultants do we have in the company charging a ton of money with often little to show for it? Deloitte, EY, Cap Gem, Accenture (?), etc. And that's the big guys– I've seen that there are plenty of smaller management consulting guys that make a boatload of money off the company.
Re: Sen. Warren comments. Are you people serious? The company has no room to be complaining about oversight b/c our (past) leadership screwed up so badly they've destroyed the brand. Scandal after scandal, MRA's and consent order stuff out the wazoo. All the while, most of us are hammered yearly to make sure we do our compliance training. lol – fat lot of good that did people in leadership that totally screwed the company. Stumpf and Tolstead should be in prison along with a bunch of other people.
Yeah, Warren found out about our crimes and now it's all her fault.
And if my wife never found out about my affair she wouldn't be so mad so it's really her fault.
And that cop is stupid for giving me that speeding ticket, I was just about to slow down but he didn't give me a chance.
Please stop. Wells looks bad enough without employees blaming the overseers for catching us criming.
Remember the thousands of employees we blamed for the hundreds of thousands of fake accounts we created because 8 is Great!
Stop stop stop.
BRAVO for your posts! Judging by the upvotes blaming Senator Warren and discussions with employees/managers who I USED to respect, the accountability problem at WF is still dissapointingly HUGE. Look at what M. Mack is about to claim in civil suit!
Aren't many of us taught about how attribution works? Makes me seriously question the judgement and critical thinking skills of these people.
Grow up and stop blaming others when the responsibility for this predictable train wreck rests solely at WF's feet. Misplaced anger is rampant at WF.
Being extremely upset is understandable.
Being irresponsible and dishonest about the source of the problem and your pain is NOT.
I hate to think what these delusional denialists are teaching their children.
Asset cap, doesn’t hurt the executives, it hurts many employees who had no control over many of these frauds. Lower level staffs are paying dearly with threat of layoffs, extra workload, uncertainty, zero growth opportunities, etc. basically, collateral damage.. caught in crossfire
India is offshoring. A different way of screwing people.
The job postings in India are being added constantly. Probably somewhat of an idea of what is being outsourced.
@ pwd+16zAVk4B. Blaming Senator Warren for this is the equivalent of blaming Lab Corp or Quest Laboratories for your diabetes diagnosis when your results are exposed. The asset cap is a consequence of choices that included promoting unqualified candidates to leadership roles, fiduciary negligence and massive consumer fraud (some of it still going on). Senator Warren’s letter is simply and rightfully exposing, not creating the facts. Wells Fargo created the asset cap.That includes every employee who saw wrongdoings, fraud and rampant corruption and stayed silent about it for years. If you don’t get it, you are part of the problem.
@pj, I doubt all those groups will be outsourced, maybe projects around these areas.
Look at the industry model and see the operating in other like companies, You will see what changes have been made over 2019 in like companies, thus here will likely follow suit. Also reduce employees and contractors (which they already started)
The asset cap was caused by a decade of unresolved consent orders, massive consumer fraud and a management team that perpetually lied to shareholders, employees, customers, and regulators.
Seriously, stop trying to pin this on a single senator. I will just keep following you and repost the truth. Your premise seems to be that she exposed the fraud instead of allowing it to continue, if you believe that reporting fraud is wrong, you are a very big part of the problem.
If it was up to Charlie it would be a couple hot admins, his friends under him, and 250,000 reports in India under that. Next week when your laid off though don't blame Charlie though. Blame Stumpf for being a fool, and most of all blame Elizabeth Warren. She caused endless pain to thousands of people who did no wrong. Her spiteful letters to the Fed and OCC caused the asset cap which was one of the only levers the company hate. She went way out of her way to harm you and your family.
Technology, accounting services, corporate jet if you have in house staff/pilots they will move it to an outside provider. Corporate real estate, they will hire a firm like CBRE to handle it. Anything that can be outsourced will, They specialize in “shock and awe” on the corporate level, these guys are ruthless.