Old Wells Fargo Contract Allows Bank To Basically Do Whatever It Wants At Any Time

Old Wells Fargo Contract Allows Bank To Basically Do Whatever It Wants At Any Time

A California couple is finding out the hard way that the contract for the home equity line of credit they’ve had for decades with Wells Fargo isn’t really what most people would consider a binding contract so much as an agreement that allows the bank to change the terms however it wants to and whenever it chooses to do so. [More]

Banks Working On Linking Up Their Payment Systems To Make Person-To-Person Mobile Transfers Easier

Banks Working On Linking Up Their Payment Systems To Make Person-To-Person Mobile Transfers Easier

The way younger generations are glued to their smartphones, there’s almost nothing they can’t do with the swipe of a touch screen. Old-fashioned things like writing checks or even paying a roommate with cash is such a bother to some, but yet transferring money to other people with apps hasn’t really caught on like the banking industry figured it would. That’s why the nation’s big four are discussing how they can link up their payment systems to make it easier for consumers to send money via mobile devices or even emails. [More]

Study Says 800K Homeowners Should've Avoided Foreclosure But Big Banks Messed It All Up

Study Says 800K Homeowners Should've Avoided Foreclosure But Big Banks Messed It All Up

Getting a mortgage modification has been hard enough for homeowners, what with disorganized big banks not having enough well-trained people on staff to deal with the necessary ins and outs of the process. But a new study says that things should’ve been easier under the Home Affordable Modification Program and resulted in 800,000 fewer foreclosures than we ended up with. [More]

Wells Fargo Working With Daughter To Make Her An Authorized Party On Late Mother's Loan

Wells Fargo Working With Daughter To Make Her An Authorized Party On Late Mother's Loan

We’ve been closely following the case of a woman who was trying to save the home she inherited from her late mother, only to be confounded when Wells Fargo refused to deal with anyone but the dead woman. Earlier this week, Wells Fargo announced that they’d placed the foreclosure on hold and had reached out to the woman. In the latest update, both the woman and Wells Fargo have confirmed that negotiations are underway. [More]

Wells Fargo Fires Customer Service Rep For Using Cardboard Dime At Laundromat 50 Years Ago

Wells Fargo Fires Customer Service Rep For Using Cardboard Dime At Laundromat 50 Years Ago

Big banks are under a lot of pressure these days not to mess anything up — but in the case of firing employees for crimes they committed decades ago, are they overreacting? A Wells Fargo customer service worker says his recent termination stemming from an incident in 1963 is totally unnecessary. His crime? Using a cardboard cutout of a dime in a Laundromat washing machine. [More]

Wells Fargo Pushes Pause On Foreclosure As Petition Nears 150,000 Signatures

Wells Fargo Pushes Pause On Foreclosure As Petition Nears 150,000 Signatures

Yesterday, we told you about the California woman who was trying to save the house she’d inherited when her mother passed away, but who claims she is facing foreclosure because the bank refuses to deal with anyone other than her late mom. Since then, more than 120,000 additional people have signed the daughter’s petition and the attention has moved Wells Fargo to put things on hold for a moment. [More]

Wells Fargo Won't Talk To Me Because I'm Not My Dead Mother

Wells Fargo Won't Talk To Me Because I'm Not My Dead Mother

A woman in California says she she just wants to take over the mortgage for the family house she inherited when her mom passed away, but instead she’s facing eviction because the folks at Wells Fargo will only speak to her dead mother. [More]

Wells Fargo Receives $175 Million Slap On Wrist Over Discriminatory Loan Allegations

Wells Fargo Receives $175 Million Slap On Wrist Over Discriminatory Loan Allegations

Three years after it began looking into allegations that Wells Fargo had systematically discriminated against minority loan applicants by pushing them into risky, high-cost subprime loans — regardless of their qualifications — the U.S. Dept. of Justice has come to a $175 million settlement with the bank. [More]

Can I Survive The Wells Fargo Takeover Of Wachovia With My Account Terms Intact?

Can I Survive The Wells Fargo Takeover Of Wachovia With My Account Terms Intact?

Keith has had the same bank account for eight years, but during that time “his” bank has been four different banks thanks to mergers. Ameribank became First Union, which became Wachovia, which in turn was gobbled by Wells Fargo. That’s just how the history of American banking has worked: what’s the big deal? For the first time in all of these mergers, additional fees will be imposed on Keith’s account. He wants to keep things the way they’ve been for the last eight years, and Wells Fargo wants to move on. Well, it wants to move on to taking more money out of Keith’s wallet. [More]