Thread regarding Wells Fargo & Co. layoffs

That’s like the career criminal complaining that the cops are watching them. WF put the spotlight on them by what they allowed to happen in the past. Apparently their controls aren’t controlling. I might be an employee but I won’t be a hypocrite like a right winger.

"Please that's ancient news. Kind of crazy as well. The bank was trying to do the right thing for customers who filed for bankruptcy in a difficult time and got called out for it.. "

Right like how they tried to do the right thing by opening accounts for customers who didnt know they needed new accounts.

C'mon what a horrible defense. Clearly the same thirsty shady mindset at play here. At this point Wells needs to be completely above board in their decision making.

Time to get some fresh blood and talent in consumer lending control. The control exec MS is in way over his head. The home lending control leader just moved to CSBB (yikes for them). When is the investment in all of these “control” people going to pay off?

Since these releases are in last 6 months, not sure they are improving anything with the Feds; this Senator even post in their news releases

@1omu+19pnmjj4 has it right. People who were not delinquent and had not asked to be put into forbearance were put into forbearance. And then, even if it's undone - some credit scoring algorithms treat this unfavorably even though the loan is still non-delinquent... thus, impacting credit standing, pricing for credit, ability to refinance, etc.

In addition to that, the public facing statements about forbearance (e.g. on the public website) said that if a customer was current on their loan and went into forbearance, there would be no negative impact to the customer's credit... which it most certainly did. So even for those who asked for forbearance, they did so under incorrect understanding of impact.

Yeah, but how many is that in the past five years? Maybe we ought to try playing it straight for a while.

All very clear now.
Peoples makes mistake.

The bank paused their mortgage payments without their consent. In some cases they had been making the payments on time. In some cases they clicked a link for more information about COVID programs and automatically were entered into the program without their consent or knowledge, which then made it impossible to refinance when rates went down. And in many cases they hadn’t declared bankruptcy. The bank screwed this up and even Scharf admits it.

I'm thankful my only job with Wells Fargo was as a security guard.
Uniform, badge, rusty old .32.
At a CinemaPlex in Atlanta, say '78 or so.

WF knew what it was doing then...

look the tech secretary is among us –> @ihj+19pnmjj4

Guys....

Your vs you’re (you are).

@yim+19pnmjj4
When you tell creditors you can't pay back your debts and file bankruptcy, and tell the court its connected with getting Covid, H E L L O your not in "good standing." You need to educate yourself and learn what expression's like call a spade a spade mean. The bank didn't damage their credit, they did it themselves when they filed for bankruptcy. If your an employee here you shouldn't be.

Two Things

1. Putting people in forbearance without telling them
2. Not able to hire black people as they have not been able to find more yet that match

So we're being accused of what exactly? temporarily pausing mortgage repayments for a customer that's in bankruptcy proceedings and it was noted in their court filing that they suffered from COVID... Sorry that's about as dumb as complaining about a donut shop that put one to many sprinkles on your donut. If we didn't do it you would no doubt see her saying the company was trying to kick people out of their homes when they came down with COVID.

@yim+19pnmjj4, your right, everything she called out are junior mistakes and all made with new management/Execs. Maybe they an do some training to learn how to run a bank or something.

Oh, call a spade a spade. Mortgage holders in good standing were put into forbearance when they never requested to be, and it damaged their credit. I’m an employee and I consider it less maliciousness than incompetence, but it made us look like we couldn’t take care of business. We really should be better at this. Being annoyed at Warren for pointing out that we can’t manage the most basic functions of a bank does not make a whole lot of sense.

Look she loves wells fargo, she puts a lot of time into it

https://www.msn.com/en-us/money/companies/elizabeth-warren-aoc-blast-wells-fargo-ceo-for-blaming-very-limited-pool-of-black-talent-for-the-bank-s-trouble-hitting-its-diverse-hiring-goals/ar-BB19lQ4D

all in 2020

Please that's ancient news. Kind of crazy as well. The bank was trying to do the right thing for customers who filed for bankruptcy in a difficult time and got called out for it.. can't win or lose some critics. Warren would be more productive if she spent her time looking into real criminals like the big tech spy shops we have in this country.