Thread regarding TIAA (TIAA-CREF) layoffs

Do you all work at the same company I do? Where is this costly annuity? And when have we ever made the choice to push them over index funds? We cannot provide advice.

The fine will come at expense of participants whose assets are being used to pay the fines not from compensation pool of executive management.

TIAA is going to get crushed by regulators since this will be our 3rd strike. I could see a fine in the billions especially knowing the profile of the customers that we serve.

I could also see regulators following a similar approach to what was pursued at Wells Fargo where they put a cap on the products that TIAA offers or make the advice offering process so restrictive that we are forced to sell a business like Wealth.

“Learners” is a very generous term.

when you rob Peter to pay Paul it eventually catches up to you. They’re not slow learners. They’re desperate to keep parts of the company afloat by taking from others and they got caught.