Wells Fargo Fined
Wells Fargo was fined $190 million because the forced customers to have fee-generating accounts they didn't wish for. As Wells Fargo is the biggest bank in the US based on market capitalization, other banks leaped at this chance.
This goes to show how our current economy and society is very dog eat dog, and everyone for themselves. they want to make the most money they can, by almost any means, to maximize profit. This atmosphere is terrible, but there's not much we can do about it without going broke or worse.
http://www.infoplease.com/news/2016/current-events/us-september-wells-fargo-fined.html
I find this interesting that this sort of event would happen at a bank. It's ironic because they're supposed to help you protect and save your money when just the opposite is occurring.
ReplyDeleteThe most upsetting part of this situation is that the women who was in charge of this whole thing is retiring with MILLIONS OF DOLLARS.I just can't comprehend how she gets away filthy rich ,when hundreds of those who worked under her lost their jobs. Someone should go to jail for this scandal, but I feel like legal system is just letting this one slide.
ReplyDelete