Liberals are always for more regulations when the market can take care of issues like this. If more people would pull their money out of banks and use member owned credit unions, it would drive the banks to improve service, offer competitive rates and fees, as well as being more transparent or they would go out of business. They would have to become like the credit unions to compete with them. Nobody is forcing anyone to use the banks.
The market has a long rebound effect where the banks can cause long term damage before the free market has a time to adjust. Why not have a federal protection device that investigates harmful bank practices before the damage is done? Lack of tax revenue? Well, I'm sure the massive military budget has room to scale down and we don't need to give massive tax cuts to .1% of thenpipulathe which currently hold the most accumlated wealth in mankind history.
I worked in banking as a teller. I worked in lending also. If you're a business owner, you want to work with a smaller bank. The Wells Fargo scsndal is screwed up and I thought they were above stuff like that because they're lending business I thought was strong. Chase is good for deposit customers because they are strong and don't need to steal your money
Wells Fargo also botched a fraud investigation, leading the arrest of an innocent pastor Rev. Jeff Edwards, pastor of Parsippany United Methodist Church, is suing Wells Fargo Bank of negligently identifying him as the suspect in a check-fraud scheme perpetrated April 16, 2018 at an ATM located at a Wells Fargo Bank branch in Parsippany. According to the lawsuit, on April 16, when Wells Fargo notified state police that four fraudulent checks (from the account of the Turnpike authority) had been deposited through an ATM in its Parsippany branch at Troy Hills Plaza. Around the same time as those checks were deposited, Edwards used the same ATM to deposit personal checks in his own account at the branch.e State police investigators then magnified the mistake July 9 by posting a public Facebook alert about the crime, including surveillance photos of Edwards that identified him as the suspect. The pastor was arrested, booked, fingerprinted and charged with a third-degree felony, punishable by three to five years in prison and a fine of up to $15,000. https://www.dailyrecord.com/story/n...j-state-police-wells-fargo-arrest/3221406002/
I've been getting Wells Fargo solicitations every week for the last six months. Screw these a-holes. They think they can change their marketing and we'll all of a sudden forget what a bunch of crooks they are.
Been a customer for nearly 20 years. We weren't affected by any of their shenanigans. That, the effort it takes to make the change of our primary bank, and I'm surrounded by branches and atm's has made me slow to change...but it's time.
