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188: Do you think the penalties were big enough for Wells Fargo fraud scandal?
- Autor: Vários
- Narrador: Vários
- Editor: Podcast
- Duración: 0:10:27
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Sinopsis
Learn why the scandal at Wells Fargo is even worse than you’re hearing. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It’s full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you’ll like that one too. http://bit.ly/wealthpod It’s listener question Friday and one of our listeners asked: Do you think the penalties were big enough for Wells Fargo? The media reports the Wells Fargo fraud as “you received an extra account.” Ah no, that’s not what happened. Money was taken out of accounts without customer permission to create bogus accounts. Fees were charged in the new accounts. Loans were generated without asking, effecting credit scores negatively. Senate Banking Committee hearing last week into the bank’s sales tactics, which earlier resulted in a $185 million fine and regulatory action. During his appearance before that panel, Mr. Stumpf and the bank were roundly criticized for firing 5,300 employees over five years, yet taking no