Back in 1982, a man purchased $11,800 in cashier’s checks from Central Fidelity Bank in Virginia and put them into a safe deposit box. The idea was that this would be his rainy-day/emergency fund. Apparently, he didn’t need this money for three decades, as he only recently attempted to deposit the checks into his account. Problem is, Wells Fargo — which now owns Wachovia, which had previously acquired Central Fidelity — claimed it had no record of these checks and refused to honor them, even after a court ordered it to. [More]
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.