Just a mere $300 million:
Again? Dang there are just to many rats in that boat. Those people have been sending me letters trying to move my money into Wells Fargo. But when I moved my account 20 years ago from them for excessive fees I said never again.
Andy
Me too. I had a free checking account because the branch was just across the street, had lots of drive-thru lanes, multiple ATMs (inside and outside), and was generally overall convenient. Then they followed another bank that also āwent stupidā and started requiring minimum balances, etc, etc, etc. I donāt pay fees for services I donāt need/use. So, I closed the account and went elsewhere. The branch is gone (2020āGeorge Floyd riotsāthe burned-out Wells Fargo on TV) and they do not have any convenient locations other than the ATM that was at the end of the block (physically separate from the bank branch but connected to the ATM network). The ATM seen being destroyed was in one of the drive-thru lanes. I think there were 3-4+ ATMs at that bank (one inside, 2-3 outside).
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Ironically, the Wells Fargo economics group provides some very good research. They must shudder when they read about their bank management.
Wendy
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I am friends with an ex Wells stockbroker. He drinks to sell. And sells to drink. He is with RBC America now. He has to tell people it is not a Canadian firm. All his drinking buddies want to know why put your money with a Canadian brokerage firm.
Giving drunks something to talk about RBC.
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We left WF after they opened up additional accounts without us knowing. Super shady. As long as banks can pay fines instead of facing criminal consequences, banks will continue to do what they do.
Now Iām a credit union guy.
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