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Bringing UP the REAR: Wells Fargo Bank, Part 2

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  • Francine | | 06 Aug 2012, 11:37 PM Agree 0
    I so look forward to your "Bringing Up The Rear" articles, Martin. So refreshing and honest... compared to the dribble you MIGHT read or hear about in the mainstream media. Most of the crap never gets mentioned -but there's no question about where you stand when you write your articles. Keep 'em coming!
  • Time4change | | 07 Aug 2012, 07:04 AM Agree 0
    2 many Americans are in such a state of dispair after losing jobs, companies they worked years to build, health problems, etc. No matter how creditworthy they were in the past it is ignored by banks who have gotten too big to fail. Add to that the fact many of their fellow Americans think they just made mistakes vs the bad economy happening to them it is understandable many give up. It is horrible to see stories like this I'm more disturbed by the selfish people who have no compassion.
  • Gena Wilson, LCSW | | 07 Aug 2012, 10:57 AM Agree 0
    Good article and glad you exposed them. I am also very concerned about the immorality of our country now. I would like to rise the boomer up like we did to protest the Vietman war and take our country back. Refuse to pay the health ins co. as they are also without morals. I just found out that Medicaid changed their rules again and that any elder in a nursing home who has to go to the hospital will be discharged from the nursing home unless they can pay the daily amt. to hold their bed which in many places now is over $200 per day. This is such disrespect to elders in our country who will now be moved to another facility after the hospital stay and the hospital Social workers will have to find a new place for them. This is unreal to me and once again the immoratlity of our country is brought to the surface. Who would pass such a horrible law. I am ready to pack up and move to Canada.
    Where has there humanity gone ? I say their's cause us middle class folks help each other as much as we can. How much money does anyone really need. Like the Wells Fargo bank - seriously - and then there is the health ins in our country that is for crap and someone is getting so rich on our premiums - this is insanity.
  • William Matz | | 08 Aug 2012, 03:28 PM Agree 0
    We could write volumes about Wells Fargo abuse. Another nice touch (covered in the recent attorney general settlement) is its abuse of military/veterans. Not only have the Big Banks been foreclosing illegally on active military (violating SCRA), they have also denied (or added charges for) VA borrowers seeking "streamline" refinances (that have no appraisal, credit, or income requirements) by imposing requirements not mandated by the VA. In one recent situation, Wells would not allow an active military VA borrower to refinance and greatly lower his rate because of a credit dispute, even though the VA does not even require a credit report for a refi.

    In another mind-boggler, Wells told an owner that it had advised the owner of reinstatment rights by a letter mailed two days AFTER the foreclosure took place.

    These, the examples cited by Martin, and legions of others prove that there will be no improvement until civil lawsuits start generating large punitive damages and/or there are criminal prosecutions of senior executives. Most of the gov't actions of the last four years have have had little, no, or even counterproductive effect. It is only publicity like Martin's and action by a small number of borrower attorneys that have achieved any compliance by servicers and lenders. This is so sad.
  • Enraged | | 05 Sep 2012, 12:44 PM Agree 0
    I've been monitoring Mandelman Matters for the complete interview he did of Neil Barofsky. It's been over two weeks (almost three) since he announced it and posted his prebiew and... nothing! Does anyone know what's going on? Was Mandelman threatened or otherwise intimidated into NOT running the interview (That wouldn't be unheard of)?

    Or... is he on vacation? Her doesn't even answer messages. Worrisome.
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