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AFT Pulls Mortgage Business from Wells Fargo

Here is what I see Teachers across the country want pay raises that they in turn give more money to the unions who in turn give more campaign contributions to one Political party in particular, and that particular party really wants to stifle our second amendment rights. so no darn raises I don't feel its right to let my tax dollars go to lobbing groups that I don't agree with, and good for Well Fargo
 
people said:
Keep thinking that. Remember last time they got a huge fine. They quickly stopped accepting coins, and every fee they had went up. Do not kid your self the customers will pay this one yet again.
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customers (us) will definately pay for it like they always do and i hope the shareholders do to but i dont know. Wells is probably getting enough extra income in one year from the tax cut to pay the whole fine so it wont affect them at all except they wont be able to buy back as much stock so share price may not go up as much as it would otherwise.
 
people said:
Keep thinking that. Remember last time they got a huge fine. They quickly stopped accepting coins, and every fee they had went up. Do not kid your self the customers will pay this one yet again.
Click to expand...
Maybe you have only one bank(Wells Fargo) in your town, but where I live I have 20 or more financial institutions that are competing for my business.

As a shareholder in several international banks headquartered in the US, I can personally assure you we paid for all the fines levied during the last 10 years!!!!
 
JimT said:
Maybe you have only one bank(Wells Fargo) in your town, but where I live I have 20 or more financial institutions that are competing for my business.

As a shareholder in several international banks headquartered in the US, I can personally assure you we paid for all the fines levied during the last 10 years!!!!
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What we have both said brings up a few questions.
!. Who on paper is really paying for what?
2. Why is it every time they get a fine all of the fees go up?
3. Why is it when they get a fine services they offer go away or the fees associated with them go up?


To me it sounds like they are robbing Peater to Pay Paul. Pretty shady to me.
 
I've left many banks in my life because they did things I found unacceptable. I have a very low tolerance for being mistreated. Wells fargo has managed to keep my business for decades now. The local branch knows me by name, takes good care of me, and offers me lots of free services because I have multiple accounts. On occasions where I got busy, forgot to pay something and got a late fee, the local branch has reversed it. I would know if they were charging me fees I shouldn't be. This fine is not consistent with my experience. I'll stay with WF.

--Jerry
 
I had issues with Wells Fargo. Got tired of being the "little guy" and having Wells Fargo crap all over me as their normal practice.
Been dealing with them for the last 3+ years. DPoA to take care of sisters finances. Every time, "we need just one more paper signed and certified".:mad:
The last straw was when I called the "advisors" and was told, "we arn't servicing that account anymore". ??? WTF???
Had enough. Stopped at MY local bank and in less than a week, had ALL of sisters funds (to the tune of $250K+) transferred and cash in my hand to take care of sisters needs. And trust me, I will NEVER look back. No more letting the BIG BOYS crap on this little guy.
Did the same with B of A but only to the tune of about $20K. They won't miss me or my chump change.;)
 
I looked at Wells Fargo as a bank to use about 21 years ago when I was trying to get a load to build my house. I got no where with them and after a couple of weeks, I went to get all my paperwork, plans, income statements, tax returns etc... At first they claimed they did not have any of it, then they said I would have to come back later. I guess they did not like a disgruntled person hanging out waiting in their lobby, and returned my property.
A couple of years ago I was in the firewood business. I got lots of small checks and often would stop at the bank the check was drawn on to cash it. At the local branch, the same branch where the account holder was based, refused to cash the check because I did not have an account. I asked for a manager, and then the manager's manager, and eventually got the $125 or so.

No Wells Fargo for me.
 
The article states dropping WF as a recommended source for mortages. Only 1600 AFT families got a mortage from WF in 2017, not over a million. So what will be the drop in business for WF in 2018? Not a big deal if you ask me.
 
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