gray breidenabach
September 8 Wells Fargo got smacked with a 190 million dollar fine for pushing customer intoa fee generating account that they did not request. Wells Fargo is one of the largest banks in america, and they are the ones stealing from the customers.
I dont really understand why a bank needs to be stealing money from people that are giving them money, it just doesn't make sense to me, quite foolish actually. when you're one of the largest banks in america handling peoples money all day, it doesnt represent a sense of professionalism, nor does it bode well for the companies name. The stealing isnt what strikes me, its the foolishness of the company that really dumbfounds me.
http://www.infoplease.com/news/2016/current-events/us-september-wells-fargo-fined.html
I agree that it is not professional. However, it is far from new for a large business to take advantage of its customers. Sometimes schemes that drain pockets by creating new demands or expenses are called entrepreneurial (such as the spread of the manufactured toothpick by Charles Forster in the 1800s. He convinced businesses to carry toothpicks by hiring people to request them at small shops and fancy restaurants. These establishments were then willing to purchase toothpicks from him. Restaurants offered them to customers for free, which made them widely used. Chewing a toothpick became a symbol of contentment and class after eating a fine meal, and some who could not afford such meals would stand outside of restaurants chewing toothpicks to appear of higher status. Prior to Forster, however, toothpicks were whittled when needed and essentially free - here's a link if you want to read up http://www.slate.com/articles/business_and_tech/design/2007/10/stick_figure.html ). Exploitation of average consumers is everywhere, from subtle false advertising to scenarios such as this. It's good that they were caught, though.
ReplyDelete-Cal Thompson