As portions of New York and New Jersey begin to rebuild following the path of destruction cut by Hurricane Sandy, there are a number of area homeowners whose loan modifications have become collateral damage, with Wells Fargo suspending decisions on these requests until further notice. [More]
wells fargo
How I Stopped Rationalizing And Left Wells Fargo Behind For A Local Bank
By 11.12.12
Chris happened to live in Minnesota when he opened his first bank account at age 18, and went with Wells Fargo. They were everywhere, convenient, and the rest of his family were all signing up with them too. Shrug – why not? He stuck with them for more than a decade. He moved around the continent and a lot of things changed through his twenties, but his Wells Fargo account was a constant. Sometimes it was a little inconvenient, but he stuck with them out of habit. Until his balance fell low enough that they began charging him fees for the privilege of being their customer. It took him less than an hour to switch everything over to a local bank that isn’t fee-happy. Why, he wonders, did he stick with Big Stagecoach for so long? [More]
Cancer Patient Says Wells Fargo Evicted Her In Spite Of Court Order; Wells Fargo Says It’s Not To Blame
By 11.1.12
According to a petition that now has more than 114,000 signatures, a breast cancer patient in California claims that Wells Fargo and the sheriff evicted her from her home of 20 years at gunpoint. Meanwhile, the bank says it wasn’t involved in the [More]
Feds Sue Bank Of America Over $1 Billion In Bad Loans Sold To Fannie Mae, Freddie Mac
By 10.24.12
Bank of America continues to crawl through the legal spanking machine because of its ill-fated, idiotic, utterly stupid decision to buy Countrywide Financial and its mountain of toxic mortgages in 2008. This time, it’s the U.S. government that has sued the bank over all the rotten loans it sold to Freddie Mac and Fannie Mae, both of which were bailed out by the feds in 2008. [More]
Data Shows Bank Of America Is Also Bad At Dealing With Credit Card Complaints
By 10.12.12
Earlier this year, the Consumer Financial Protection Bureau launched a complaint portal for people with credit card-related issues. Banks and card companies are not obliged to provide a happy ending to the complainant, but they are obliged to reply in a timely manner. And even with the bar lowered that much, Bank of America still manages to disappoint. [More]
U.S. Sues Wells Fargo, Accuses It Of Being A Loan Factory Pumping Out Deficient Mortgages
By 10.10.12
United States prosecutors leveled charges against Wells Fargo yesterday, claiming the bank lied about the quality of mortgages it was working with under a federal housing program. Prosecutors say Wells Fargo defrauded the government for more than a decade, issued mortgages willy nilly and then lied about their condition to the Federal Housing Administration. [More]
Banks Working On Linking Up Their Payment Systems To Make Person-To-Person Mobile Transfers Easier
By 9.12.12 — Updated: 9.8.16
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]
Wells Fargo Sends Crew To Foreclose On Home That Doesn’t Even Have A Mortgage, Shrugs
By 9.7.12 — Updated: 2.22.13
There isn’t really a great way to make it up to homeowners that don’t even hold a mortgage when you’ve sent a crew to break into their house and take everything out of it, but we suppose “sorry” is an okay, if lackluster, start. A California couple says Wells Fargo made a huge mistake by trying to take their home and now they’re not being very helpful in getting the family’s belongings back to them. [More]
HSBC Joins List Of Banks Warning It Will Probably Get Fined For Improper Foreclosure Practices
By 2.28.11 — Updated: 11.7.12
HSBC is the latest in a string of banks who warned investors via their SEC filing that they expect to get fined after getting a letter from regulators chastising their improper foreclosure practices. On Friday, Wells Fargo, Ally Financial (formerly GMAC) and SunTrust banks made similar announcements. [More]
Wells Fargo Keeps Hanging Up On Your Deaf Grandmother
By 6.16.09 — Updated: 2.24.14
Rachel’s 86-year-old grandmother was a loyal Wells Fargo customer for more than thirty years. She’s been forced to take her business to a new bank because Wells Fargo representatives refuse to talk to her.
