California
Related: About this forumWells Fargo booted from S.F. program
http://www.sfgate.com/bayarea/article/Wells-Fargo-booted-from-S-F-program-9240688.phpThe program, which launched in 2006, pairs tens of thousands of people annually with 13 financial institutions like Chase and Citibank. Wells Fargo will be scrubbed from San Franciscos list of participating banks immediately.
Customers walked into Wells Fargo looking for a bank account to keep their money safe, Cisneros said Thursday. Thats not what they got. Staff exploited their personal information without their consent. That is a practice that is truly deceptive, wrong and predatory.
Cisneros is encouraging the 13 other cities with Bank On programs, including Seattle, Houston, Nashville, Los Angeles and Miami, to also drop Wells Fargo from their list of participating banks.
Wellstone ruled
(34,661 posts)serious. Watch the National Narrative against Wall Street amp up. Bloomberg Business Channel already is trying to give cover for Wells,so someone is worried.
dixiegrrrrl
(60,010 posts)I am always happy to see reactions like this.
Wellstone ruled
(34,661 posts)and appears that the State of California's Consumer Banking Laws were the only ones to take these Guys to task. Looks like Wells was able to hide behind their Arbitrator Boiler Plate Rules for quite some time. Just for the ha-ha's,check our Amex Card today,same boiler plate,then checked our Visa,and yes there it is,wow,talk about not paying attention. Tell you what,these suckers are going to be used only in a emergency from on. Both have zero balance as of 5 pm today.
tazkcmo
(7,300 posts)This is supposed to be a program to help people, yet they pair them with the very banks that crashed our economy and continue to engage in predatory practices ranging from immoral to illegal. They would be better served by putting their money in a coffee can than letting BoA, Citi, Chase or WF have access to their money. It's like hiring a child predator to mentor at risk youth.
KamaAina
(78,249 posts)Of which there are many in California.
tazkcmo
(7,300 posts)It just seems counter productive to continue to do business with these Too Big To Jail institutions. CU's seem to be a preferable option as you suggest or even banks with a proven track record of integrity.