The embattled Wells Fargo Bank, famously accused of signing up its customers to multiple accounts without their knowledge, was discovered last week to be doing the same thing with a life insurance product sold in their branches by Prudential. This could prove even more damaging than the original fake account scandal, as bankers are not allowed to sell insurance, much less secretly sign people up for it.
Then on Tuesday, the bank was suspended from doing any work for the city of San Francisco, its home town. Plus, Wells was the only U.S. bank to have their “living will” — a government-mandated roadmap for how to dismantle the firm in the event of a failure — rejected by federal regulators. This is the third time since 2014 Wells Fargo had its living will denied as not credible, and for the first time, that will lead to sanctions: The Federal Deposit Insurance Corporation and the Federal Reserve announced they will prohibit Wells Fargo from establishing any international subsidiaries or purchasing any nonbank companies.
The company has until […]
Remote Viewing the Year 2060
The fact that Wells Fargo is still in business is an indicator that we live in a full blown corpratocracy. It is a criminal enterprise at best, at the forefront of financing DAPL. If you haven’t cancelled all business dealings with this company, please consider doing so immediately!
I know someone who was billed for mortgage insurance by Wells even though he had it already. I’m not rich but I had a nice chunk of change in there which has been moved out.
Bravo! Interesting to hear about the mortgage insurance. Thomas Jefferson was prescient in his observations about the threat of banks being worse than armies!