https://www.cnbc.com/2018/07/19/wells-fargo-reportedly-refunding-hundreds-of-thousands-customers-for.html Wells Fargo first disclosed issues with add-on products, like identity theft and debt protection services, in its second-quarter regulatory... — read more
Be proactive
A warning to anyone involved in the FX scandals. If you were involved in any transactions that overcharged customers, you will be found out. You could go to federal prison. Don’t rely on the ethics line to save you. Hire your own attorney and save... — read more
More layoffs
More layoffs coming to Frederick this week. They laid off the employees in the mail room, maybe this month they will layoff security and the cleaning crew?! Where is the info about even more Frederick layoffs coming from? I thought all of the people... — read more
Wells Fargo finds even more customers that it overcharged
https://money.cnn.com/2018/07/13/news/companies/wells-fargo-scandal-refunds/index.html Wells Fargo keeps finding new parts of its vast banking empire that overcharged innocent customers. On Friday, Wells Fargo (WFC) disclosed it's setting aside... — read more
Federal watchdog says DoL likely blocked protections for Wells Fargo fraudulent accounts whistleblowers
https://www.financial-planning.com/news/labor-department-wells-fargo-fake-account-whistleblowers There's a "substantial likelihood" the Department of Labor colluded with large corporate defendants in failing to protect whistleblowers, including some... — read more
The number of positions being off-shored is astonishing
I’ve sat through so many presentations about off shoring positions to Manila and India. Executive leaders have been coached to tell people WF must do this because there are no qualified people in the US. But all the presentations I’ve seen show this... — read more
MD Senator questioning WF layoffs
https://www.fredericknewspost.com/news/economy_and_business/van-hollen-questions-wells-fargo-on-frederick-layoffs/article_64e0e0b8-8b9c-59e9-9dd5-ac1676c9bd23.html
WF Advisors Class Action Lawsuit Settlement for Wrongful Termination
A friend and former coworker who worked at Wells Fargo Advisors was recently awarded a settlement a few months ago as part of a class action lawsuit by former brokers who were fired for not participating in criminal fraud that was rampant within the... — read more
More news on Frederick, MD layoffs
https://www.fredericknewspost.com/news/economy_and_business/wells-fargo-to-eliminate-jobs-from-frederick-office/article_1c930d44-c60e-5437-9756-daa256b6c588.html
Lawsuit targets 'hidden fees' in Wells Fargo finance programs
credit: https://www.reuters.com/article/us-wellsfargo-retailers-lawsuit/lawsuit-targets-hidden-fees-in-wells-fargo-finance-programs-idUSKBN1JP28Q NEW YORK (Reuters) - Wells Fargo Editing by Dan Grebler and Steve Orlofsky
Wells Fargo fined by SEC over investment sales misconduct
credit: https://www.reuters.com/article/us-wells-fargo-sec/wells-fargo-fined-by-sec-over-investment-sales-misconduct-idUSKBN1JL2OK (Reuters) - Wells Fargo Editing by Bill Trott and Richard Chang
John Stumpf's Words Haunt Him Into The Afterlife
John Stumpf's words are immortalized forever on the Internet, he bragged how he "dreams of checking accounts in his sleep" so to push workers to cross-sell extra financial products to unsusptecting customers because it made the bank a lot of money... — read more
Maryland mortgage layoffs
https://www.housingwire.com/articles/43795-wells-fargo-lays-off-63-mortgage-employees-in-maryland
Frederick mortgage office layoffs
Seems to be layoff season... Wells Fargo is laying off 63 employees in its Frederick office, part of a nationwide trend of job cuts in the mortgage lending industry... — read more
More news on Fort Mill layoffs
There is more news on Wells Fargo layoffs in Charlotte region. Around 100 people will be laid off at Fort Mill mortgage office in August. More info here:... — read more
Naive WF Employees Calling Whistblower Hotline Again
credit: http://money.cnn.com/2018/06/19/news/companies/wells-fargo-ethics-hotline/index.html Wells Fargo's quest to clean up its act requires workers to shine a light on shady activity when they see it. A top Wells Fargo (WFC) executive said on... — read more
Another 200 gone
Announced today another 200 let go in CAM. Good news according to Brad M it wasn’t anyone in his area. Maybe if we didn’t have so many of us managed resources they could keep some of the FTE that will be let go. Managed Resources are treated just... — read more
Wells Fargo sheds almost 100 jobs in pricey San Francisco
credit: https://www.bizjournals.com/sanfrancisco/news/2018/06/18/wells-fargo-bank-san-francisco-jobs-wfc-housing.html Wells Fargo said it’s moving almost 100 jobs in its commercial treasury business out of San Francisco, where rising housing costs... — read more
Wells Fargo to Restructure Wealth Management Business Wells Fargo to merge wealth brokerage services, private client group, sources say
credit: https://www.wsj.com/articles/wells-fargo-to-restructure-wealth-management-business-1529357145 Wells Fargo & Co. is expected to announce a restructuring of its wealth management business, according to people familiar with the matter, as it... — read more
Wells Fargo goes from stealing from customers and wage theft of employees to now stealing technlogy for online banking from USAA Bank.
Wells Fargo goes from stealing from customers and wage theft of employees to now stealing technlogy for online banking from USAA Bank. credit: https://finance.yahoo.com/news/wells-fargo-trouble-usaa-accuses-132401609.html Already grappling with legal... — read more
Wells Fargo closing Reno call center at Vassar & Terminal
credit: http://www.kolotv.com/content/news/Wells-Fargo-closing-Reno-call-center-at-Vassar-St--Terminal-Way-484771741.html RENO, Nev. (KOLO)-- Wells Fargo is closing its Reno phone bank at Terminal Way and Vassar Street, and those who work there can... — read more
Is this in addition to previously announced layoffs?
Just found this: The company announcing plans to layoff 46 employees at their wealth management unit in Menomonee Falls. Those layoffs will begin in October. Is this referring to those layoffs announced last week or is this something new? I'm asking... — read more
New Head of HR
Announced today that the new head of HR was head of HR at WALMART. I guess Sloan and company have given up all pretense of looking like they give a cr*p about "team members". So glad to be retiring soon. This is not the company I joined. All they... — read more
Wells Fargo layoffs in Pittsford
I heard there was one of the smaller rounds of layoffs notifications sent out earlier this week, this time in Pittsford in Retail Fulfillment Unit. Not more than 30 people were shown the door (or will be shown the door in a few months). Granted, for... — read more
Layoffs in sold branches?
Any chance somebody here knows what happens to (former) Wells Fargo employees at the branches that are sold? What are the chances that the new owner wants to keep all of the employees? And if not, what are the positions that are usually most affected... — read more
WF closing and selling all branches in Michigan, Indiana, and Ohio
Credit: http://money.cnn.com/2018/06/05/news/companies/wells-fargo-sells-branches-indiana-michigan/index.html
Wholesale consolidation
Wholesale banking will start consolidating RCBO and BBg offices similar to what happened in Dealer Services with consolidation into two big hub offices. Associate and analyst functions will be centralized or sent to India leaving banker functions in... — read more
Embarrassed to say where you work?
With all the bad news around multiple scandals and recent layoff notices, I’ve been looking at other positions with other banks. However, I’ve had recruiters, other banks, etc ask about myinvolvement in the scandals? I haven’t been involved in any of... — read more
WFAM Layoffs
Wells Fargo Asset Management team members working in the contact centers in Boston and Menomonee Falls, WI all got their jobs outsourced this week. Approx. 50 people affected.
Massive is a relative term
Massive is relative. If you have a team of 50 and 25 are laid off that may be considered massive in the context of the 50 but in the context of the entire organization it is insignificant. Using descriptors like 'massive' is misleading and designed... — read more
WF Risk Management Responsible For Criminal Fraud Slacking Off Drunk
There was a guy who worked in criminal fraud investigations at WF but is now retired. I would see him at the local bar in San Francisco drinking alcohol in the late afternoon for over the last 12 years. During all that time while criminal acts were... — read more
Wells Fargo fined over futures-trading violation
credit: https://www.foxbusiness.com/markets/wells-fargo-fined-over-futures-trading-violation.amp Wells Fargo will pay a $187,000 fine for violating futures-trading rules at the Chicago Mercantile Exchange (CME), the exchange announced on Friday. The... — read more
Someone is going to speak up, at some point... I guess...
Rise up Wells Fargo employees send all info to Elizabeth warren or your lawyer it is time to rise up and sue wells for everything the little people get beat up every day while Tim Sloan gets a 7 million dollar bonus while we get 1 percent hr dept is... — read more
Learning Layoffs Coming
In the next few weeks massive layoffs in the learning world will occur! They made all the low level managers reapply for their jobs in the first week in May!!!!
WF HR BIGGEST CULPRITS OF EMPLOYEE MISCONDUCT
The fraud and internal investigations unit only targets the low level employees, but never investigate the executives. Keep in mind they report under the CFO John Shrewsberry responsible for corporate security and fraud investigations. That's why no... — read more
Wells Fargo reportedly altered business clients' documents without their knowledge
Credit: http://www.latimes.com/business/la-fi-wells-fargo-altered-documents-20180517-story.html Some Wells Fargo & Co. employees reportedly altered information improperly on documents related to certain business customers, adding another layer to the... — read more
Wells Fargo internal investigation watch out
These people are the German police they violate all labor laws they call or email without warning and ask you not to tell anyone or record the conversation they also tell you not to talk to anyone then blindside side you with two people when they... — read more
Wells Fargo is an evil company
Wells has been stealing from its employees especially minimum wage ones by not paying overtime for a long time. The private bankers and tellers and branch staff were pushed to open fake accounts, by working overtime to do so, and they separate from... — read more
Trump Administration Shuts CFPB Student Loan Arm
"The interim head of the Consumer Financial Protection Bureau announced a reorganization Wednesday that will eliminate the separate arm that focused on the interests of students and other young Americans."... — read more
Wells Fargo Must Pay $97 million for Wage Theft of Employees
From stealing from their customers to their own employees. https://www.marketwatch.com/story/wells-fargo-must-pay-97-million-for-wage-and-labor-violations-2018-05-10