Worst Company In America Round 1: Chase Vs. Wells Fargo

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The tournament’s first banking battle gets Day Three of WCIA competition off with a bang!

Representing East Coast bankers is that New York City streetfighter with the trash-talking CEO… JPMorgan Chase, or just “Chase” to his friends.

Of course, like lots of big banks, Chase doesn’t have many friends right now. Along with the now-standard mortgage mess-ups, Chase has been caught enriching itself on credit card fees and investigated for its collections practices.

Let’s not forget that whole losing billions in just a few weeks, followed by Chase execs admittedly “acting like children” in the wake of the huge goof.

Speaking of executives, maybe Chase should not have hired the former Countrywide exec accused of looking the other way while that lender approved bad mortgage after bad mortgage — and then put her in charge of the Chase foreclosure-review department.

Bringing its West Coast cool into this WCIA cage match is Wells Fargo, the San Fran Slugger, who has apparently made it his mission to continue to screw up all the questionable loans it inherited when it acquired Wachovia. From wrongfully foreclosing on servicemembers, to multiple lawsuits and settlements over Wachovia’s Pick-A-Pay loans, to screwing foreclosed-upon homeowners out of equity at auction.

But it’s not just the sins of Wachovia that have landed Wells in the WCIA brackets again this year. There are debit card scandals, accusations of payday lending, and allegations of halting loan modifications following Hurricane Sandy.

It all adds up to what is sure to be one heck of an exciting bout. So let’s do it to it and vote!

VOTING FOR THIS POLL IS NOW CLOSED. CONGRATULATIONS TO CHASE FOR MOVING ON TO THE NEXT ROUND!

This is a post in our Worst Company In America 2013 series. The companies competing for this honor were chosen by you, the readers. See the entire WCIA 2013 bracket HERE.