NYJetsFan.com Forums: Wells Fargo (Wachovia) Fines $85M - NYJetsFan.com Forums

Jump to content

Toggle shoutbox NYJETSFAN BANTER

Lets go cotchery
vjdbbq Icon : (27 January 2016 - 08:24 AM) We need Cro and Brick but for less salary .
S-Dubb Icon : (29 January 2016 - 10:18 AM) what up home dawgs?
S-Dubb Icon : (29 January 2016 - 10:22 AM) long time no chat, Ya boy has returned from the depths. Good to see everyone alive and well. Another season down the drain... what else is new? Fitz coming back next yr means we wont be going to the superbowl. We seriously need to land a QB. I hope Petty is the future and Im still quietly waiting for Geno to show up. IF they retain him it would speak volumes
Mr_Jet Icon : (29 January 2016 - 11:23 AM) I'm done with Geno. Never really expected much from him from the beginning. So I'm also looking for Petty to be the future.
vjdbbq Icon : (29 January 2016 - 04:33 PM) GENO SUCKS MONKEY DICK
MikeGangGree... Icon : (29 January 2016 - 07:16 PM) S-Dubb??.Who's that guy?
MikeGangGree... Icon : (29 January 2016 - 07:17 PM) FIRE S-DUBB
HarlemHxC814 Icon : (30 January 2016 - 09:10 AM) Dubb and Amen? Did I take a wrong turn and land back in 2007?
HarlemHxC814 Icon : (30 January 2016 - 09:10 AM) Haha good to see both of you
Jetsfan0099 Icon : (30 January 2016 - 03:28 PM) I don't care if Cro comes back, I think Marcus Williams can start opposite Revis. Hes a ball hawk and has performed well everytime hes called on.
Jetsfan0099 Icon : (30 January 2016 - 03:41 PM) I want Fitz back as starter, he lacks arm talent but he is scrappy
Jetsfan0099 Icon : (30 January 2016 - 03:41 PM) The team loves him as a leader and he is a good bridge QB as we groom a QB of the future.
Jetsfan0099 Icon : (30 January 2016 - 03:42 PM) He also has top notch pocket awareness.
Jetsfan0099 Icon : (30 January 2016 - 03:42 PM) He allows our playmakers to make plays. After years of terrible QB play, I'll take 31 TD 15 INTs almost 4,000 yards
MikeGangGree... Icon : (01 February 2016 - 12:41 AM) I can't stop thinking about the off season...... what the hell are we gonna do!!
Jetsfan0099 Icon : (02 February 2016 - 09:59 AM) Maccagnan is going to have to show his worth
Jetsfan0099 Icon : (02 February 2016 - 10:00 AM) They can't have Wilkerson on that franchise tag, they have to sign him long term with a small cap hit or trade him. Otherwise we are in trouble with other FAs.
Jetsfan0099 Icon : (02 February 2016 - 10:00 AM) We need Harrison back, you can't run a effective 3-4 without a stud NT.
Jetsfan0099 Icon : (02 February 2016 - 10:01 AM) I hope we get Harrison back on a 4 yr contract.
MikeGangGree... Icon : (02 February 2016 - 12:55 PM) I really think we are going to have to tag and trade Wilkerson
MikeGangGree... Icon : (02 February 2016 - 12:56 PM) If we keep wilk we lose Harrison or Fitzpatrick maybe both
MikeGangGree... Icon : (02 February 2016 - 12:56 PM) And ivory
Jetsfan0099 Icon : (02 February 2016 - 07:23 PM) We can't keep Wilkerson, Richardson, and Williams. A move has to be made
Jetsfan0099 Icon : (02 February 2016 - 07:25 PM) If the Jets want to go cheaper, they can try to trade Wilkerson and have Richardson/Williams for cheap
Jetsfan0099 Icon : (02 February 2016 - 07:25 PM) Then they can re-sign Harrison, FItzpatrick, Ivory, and maybe Powell.
Jetsfan0099 Icon : (03 February 2016 - 09:59 AM) Kaepernick apparently wants out of SF and wants to join the Jets
Jetsfan0099 Icon : (03 February 2016 - 09:59 AM) Guess he sees the Jets as a team with a great WR tandem and a quality OC who builds a offense around the players
MikeGangGree... Icon : (03 February 2016 - 10:29 AM) No thanks
MikeGangGree... Icon : (03 February 2016 - 10:29 AM) Unless he's dirt cheap
MikeGangGree... Icon : (03 February 2016 - 10:30 AM) The jets would be fools to take on that contract
Jetsfan115 Icon : (03 February 2016 - 02:09 PM) keep powell, snakcs, wilkerson, and fitz. let ivory walk, trade richardson, cut cromartie, restructure brick
Jetsfan0099 Icon : (03 February 2016 - 04:18 PM) Marshall said no to Kaepnerick, he wants FItzpatrick as his QB
vjdbbq Icon : (04 February 2016 - 12:07 PM) Where's Rob ? I need some ass shots !!!!!
MikeGangGree... Icon : (Yesterday, 04:16 PM) its crazy how dead this site is
MikeGangGree... Icon : (Yesterday, 04:16 PM) its super bowl Sunday!!
vjdbbq Icon : (Yesterday, 04:47 PM) Everybody is at Rob's house ; checking out the asses !!!!!
Smedsthejet Icon : (Yesterday, 05:17 PM) Hope Cotchery gets a ring tonight
santana Icon : (Yesterday, 07:04 PM) Yeah I would rather see a panther win
santana Icon : (Yesterday, 07:25 PM) Zzzz
Jetsfan0099 Icon : (Yesterday, 09:03 PM) I want to see Manning go out on top
vjdbbq Icon : (Yesterday, 11:03 PM) Jerricho got screwed on the call in the first quarter but he dropped a few later on .
vjdbbq Icon : (Yesterday, 11:04 PM) Screw Manning and his chicken parm .
MikeGangGree... Icon : (Yesterday, 11:29 PM) We need a pass rushing LB!! Look at Denver.
MikeGangGree... Icon : (Yesterday, 11:30 PM) Nothing against manning but he wasn't good at all this year and gives me hope that we can reach a super bowl with Fitzpatrick
Jetsfan0099 Icon : (Today, 06:42 AM) Denver has two future HOF edge rushers with Miller and Ware.
Resize Shouts Area

Page 1 of 1
  • You cannot start a new topic
  • You cannot reply to this topic

Wells Fargo (Wachovia) Fines $85M If you own WFC stock sell NOW.

#1 User is offline   azjetfan Icon

  • D Coordinator
  • Icon
  • Group: Members
  • Posts: 3,185
  • Joined: 30-March 05
  • Gender:Male
  • Location:Cheese Land Baby
  • Interests:Football, golf, banking and home improvements

  • NFL Team:

Posted 21 July 2011 - 08:48 PM

Wells Fargo’s $85 Million Fine

Posted on21 July 2011. Tags: $85 million, 12000 individuals, 85 million dollars, banking, banking industry, Board of Governors, Board of Governors of the Federal Reserve, borrowers, employee contracts, Fed Reserve, Federal Reserve, high priced loans, John Stumpf, loan applications, loans, The Federal Reserve, Wells Fargo, Wells Fargo & Co., Wells Fargo Financial Inc., Wells Fargo mortgage


Wells Fargo & Co., in an official statement, announced that it had reached an agreement with the Board of Governors of the Federal Reserve on the subject of accusations that company’s financial unit (Wells Fargo Financial Inc.) maliciously lured borrowers into getting significantly high-priced loans while also being lax (or deliberate) in regulating loan applications that were fraudulent or had falsified information.

As a result, Wells Fargo has been fined 85 million U.S dollars in civil penalties, the largest fine that the Federal Reserve has ever dished out to a company in history.

The Federal Reserve has even barred 16 individuals involved from ever working in the industry again.

Wells Fargo’s Chairman and CEO John Stumpf stated,


http://inewp.com/?p=8160

“The alleged actions commited by a relatively small group of team members are not what we stand for at Wells Fargo . . . Fair and responsible lending practices have been at the core of our culture, and they will continue to guide us as we work closely with the Federal Reserve to provide restitution to customers who may have been harmed, and to reinforce our internal controls so they further reflect Well Fargo’s commitment to helping customers succeed financially.”

Despite the consent of Wells Fargo in paying the $85 million, the company does not need to admit to ever doing what the allegations accused the company’s financial unit of.

Before and during the investigation, Wells Fargo terminated its employee contracts with those involved and provided some forms of financial compensation to those negatively affected.

Now that the investigation and agreement is over, Wells Fargo must continue compensating those harmed which is estimated to exceed a total of 12,000 individuals.
Posted Image
0

#2 User is offline   azjetfan Icon

  • D Coordinator
  • Icon
  • Group: Members
  • Posts: 3,185
  • Joined: 30-March 05
  • Gender:Male
  • Location:Cheese Land Baby
  • Interests:Football, golf, banking and home improvements

  • NFL Team:

Posted 21 July 2011 - 08:51 PM

When I worked at Wells I saw this happing first hand. I just shook my head. The sad thing is the people who did it really did not get any real incentive. There sales culture is so heavy that you just wanted to show numbers so you didnt have to listen to your manager.
Posted Image
0

#3 User is offline   SecondHandJets Icon

  • Assistant Head Coach
  • Icon
  • Group: Members
  • Posts: 7,492
  • Joined: 28-November 05
  • Gender:Male

  • NFL Team:

  • MLB:

Posted 21 July 2011 - 09:05 PM

f***! I'm closing on two deals next week and both buyers are bieng financed by Wells! I hope this doesn't affect them.
0

#4 User is offline   azjetfan Icon

  • D Coordinator
  • Icon
  • Group: Members
  • Posts: 3,185
  • Joined: 30-March 05
  • Gender:Male
  • Location:Cheese Land Baby
  • Interests:Football, golf, banking and home improvements

  • NFL Team:

Posted 21 July 2011 - 10:11 PM

View PostSecondHandJets, on 21 July 2011 - 09:05 PM, said:

f***! I'm closing on two deals next week and both buyers are bieng financed by Wells! I hope this doesn't affect them.


Probably not. This issue is not new just now being resolved.
Posted Image
0

#5 User is offline   santana Icon

  • I'm batman
  • Icon
  • Group: Admin
  • Posts: 7,976
  • Joined: 03-June 05
  • Gender:Male
  • Location:Washington DC
  • Interests:Keeping this place from breaking... and titties.

  • NFL Team:

  • MLB:

Posted 22 July 2011 - 09:01 AM

Wells fargo sales people = douchebags

i serviced a couple offices last year in the dc area and got to know a few


DOUCHEBAGS
Nyjetsfan.com Jets Fan Forum and Chat
0

#6 User is offline   azjetfan Icon

  • D Coordinator
  • Icon
  • Group: Members
  • Posts: 3,185
  • Joined: 30-March 05
  • Gender:Male
  • Location:Cheese Land Baby
  • Interests:Football, golf, banking and home improvements

  • NFL Team:

Posted 22 July 2011 - 12:43 PM

I was there for 5 years. Here is a typical day for a store manager

7:45 Sales teleconference with DM (distict Manager). You would report how many appointments you had set for the day and what you were doing to hit plan. Usually if you did not have at least 3 per banker set you would get greif.

8:30 Sit with your PBs and Service manager to see what there plan is to hit there goal. If they did not have a plan you would have to either give them greif or help. PBs needed 10 sales a day and the Service Manager had to make sure each teller had 2 sales.


11:30 Follow up with Bankers and SM to see where you stand for the day.

12:00 Teleconference with distict Manager to say where you are. Hopefully you have #s to report otherwise you will get grief and have to be on the 2:00 harrasment call.

1:00 you might get a lunch break but dont plan on it.

2:00 On teleconference if you did not have your numbers @11:00 this was a call you did not want to be on. It got ugly.

6:00 Nightly call with DM. You would report your numbers for the day. If you did not hit your goal you had to share your plan on how to hit your plan the next day. If you were not on track for the month you would be required to stay and make sales calls (cold calls) until you set appointments.

Also If you were not at your X-sell target or any particular metric you would have a weekly harrasment call with your Regional VP and DM. This was a call that sucked. Basicly you had to explain why you suck and why you did not sell that college kid 2 checking accounts or 2 savings accounts or any other product they did not need.

Wells Fargo B of A Citi all suck. Stay away from the big banks. They are after nothing but your money. I am fortunate to work for a smaller regional bank now that trusts there people and treats there customers right. The day I gave notice at Wells a branch about an hour north fired there whole staff for sales integrity.
Posted Image
0

Page 1 of 1
  • You cannot start a new topic
  • You cannot reply to this topic

1 User(s) are reading this topic
0 members, 1 guests, 0 anonymous users