https://newsroom.wf.com/English/news-releases/news-release-details/2023/Wells-Fargo-Announces-Strategic-Direction-for-Home-Lending-A-Smaller-Less-Complex-Business-Focused-on-Bank-Customers-and-Minority-Communities/default.aspx
Thoughts?
7 replies (most recent on top)
Why should I continue to work hard just so Wells can keep making horrible investments?
This has never turned out to be a positive.
The fat lady is bellowing. Time to pack it up, folks!
Focusing on underserved communities makes perfect sense. People with lower credit scores can be charged higher interest rates. And of course those late fees are another income stream. Until they default and the bank ends up with the property. This would be a good time to look into the REO group (Real Estate Owned). Bet they won’t be laying off.
These loans will make no money and be deemed targeted racism. Watch.
GTFO of here with that union BS. It's downright laughable if you think a union helps customers somehow. It's borderline to even think it helps the employees.
Wells Fargo employees, join the effort to unionize across Wells Fargo. The Committee For Better Banks and workers at Wells Fargo are organizing Wells Fargo Workers United. Wells Fargo does not treat its employees any better than it historically treats its customers and the only way to fix Wells Fargo's abuse of its customers and employees is for workers to organize and demand a voice in how the company is operated.
https://www.theguardian.com/business/2022/jun/02/wells-fargo-workers-union
How many billions do we have to give to realize these minorities are a bad business practice to loan to?
Decades of bad loans given to ‘underserved’ communities should be enough proof.
And why are they underserved, because they don’t know how to do anything on their own?