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Senators urge criminal probe of Wells Fargo execs

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Mortgage Professional America | 06 Oct 2016, 08:15 AM Agree 0
Fourteen senators – including Elizabeth Warren and Bernie Sanders – are urging the Justice Department to investigate whether executives at Wells Fargo are criminally culpable for the bank’s wrongdoing
  • Anonymous | | 06 Oct 2016, 11:38 AM Agree 0
    They absolutely should be charged and indicted, AND made examples of. If any of the rest of us in the lending community did something like this, the regulators would throw the book at us. We'd be gone for years. These clean shaven, well bespoken thugs deserve no better treatment than the rest of us. Wells Fargo has tried for years to force us little guys out of business with bullying tactics. Now that it is revealed that they were committing outrageous acts of fraud against their own customers for years, there is no excuse for the DOJ not going after them with the full might of the US Govt behind them.
  • Anonymous | | 06 Oct 2016, 12:11 PM Agree 0
    Wouldn't that be a prize to see? It sickens me to watch discrimination of financial stature against the hard working American public. There is no penalty for committing a fraudulent act of such magnitude for those who commit it. And if these yoyos know that, heck why not do it. There’s no consequence other that a harsh reprimand and a simple statement of “you should know better than that.” So sad !!
  • No sympathy here | | 06 Oct 2016, 12:48 PM Agree 0
    This has been the Wells Fargo culture ever since Norwest Bank "merged" with Wells Fargo and Norwest wrested control under Dick Kovacevich. I worked for Norwest for years and they were pushing unwanted/unnecessary products (at outrageous costs) on customers way back in the 1990s -- while demanding employee goals that were realistic and legitimately unattainable. Norwest simply imported and expanded this unscrupulous culture with Wells Fargo.
  • frustrated consumer | | 06 Oct 2016, 01:36 PM Agree 0
    The reason we have the CFPB and the reason lending practices have changed is to STOP things similar to this from Happening. The CFPB needs to come down on them hard as they were created to do !
  • Mary Savarese | | 06 Oct 2016, 02:04 PM Agree 0
    I absolutely agree that the Wells Fargo executives that promoted and perpetuated the fraudulent practice of opening accounts without customers permission and then charged them fees, should be prosecuted to the full extent of the you would prosecute a common thief.
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