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

Jump to content

Toggle shoutbox NYJETSFAN BANTER

2014 NYJetsFan Fantasy League sign up: http://nyjetsfan.com...showtopic=38425
santana Icon : (16 August 2014 - 11:55 PM) http://gfycat.com/Mi...idHookersealion
santana Icon : (16 August 2014 - 11:55 PM) Gotta fix that
azjetfan Icon : (17 August 2014 - 01:35 PM) Is anyone else as concerned as I am about the secondary?
azjetfan Icon : (17 August 2014 - 01:36 PM) I know it's preseason and all but even with Milliner in on the first game we gave up a TD on the first drive to the Colts
azjetfan Icon : (17 August 2014 - 01:37 PM) Patterson looked like me out there and Wilson got torched last night
Smedsthejet Icon : (17 August 2014 - 02:26 PM) Concerned about the right side of the OLine too - too many penalties and Giacomini wasn't that much better than against the Colts when he was poor
SackExchange71 Icon : (17 August 2014 - 02:31 PM) Imo i still think howard is better then giacomini..Wish they never let him walk.Giacomini had alot of flags in seattle also
azjetfan Icon : (18 August 2014 - 09:33 AM) Howard recieved a huge contract in Oakland. Way over his actual value.
azjetfan Icon : (18 August 2014 - 10:08 AM) So did we make a trade for a CB yet?
Jetsfan0099 Icon : (18 August 2014 - 03:51 PM) Milliner did suffer a high ankle sprain, that sucks. could linger all year
Jetsfan0099 Icon : (18 August 2014 - 03:52 PM) I think Patterson sucked vs the Colts because he was injured, which he always is.
Mr_Jet Icon : (18 August 2014 - 06:49 PM) As much as people criticized Tannanbaum for spending too much. It's starting to look like Idzik is going to be too cheap.
Mr_Jet Icon : (18 August 2014 - 06:52 PM) You get what you pay for and when you let quality players go because you don't want to pay them, this is what happens. You're left with scrub players.
azjetfan Icon : (18 August 2014 - 07:55 PM) I'm still on board with the Idzik plan. Even with Revis and Revis we still are not going to the SB this year. But the down time sucks. If Milliner comes back healthy by week 3 or so we should be fine.
Mr_Jet Icon : (18 August 2014 - 08:18 PM) Regardless of our SB chances this year or next year. If Idzik keeps acting like a cheapskate and continues to let quality players go, we won't have to worry about winning much of anything this decade.
azjetfan Icon : (18 August 2014 - 09:36 PM) He wants to build through the draft. Not blow the bank on FA. I get what your saying but there is a balance and right now we are not one or two pieces away.
Mr_Jet Icon : (18 August 2014 - 11:00 PM) It's not about being one or two pieces away. It's about keeping the good pieces you have and building upon that.
Mr_Jet Icon : (18 August 2014 - 11:04 PM) But there is no sense in trying to build through the draft if he's only going to end up letting the good players he picks up go in FA after a few years. All because he wants to do things on the cheap.
Jetsfan0099 Icon : (19 August 2014 - 07:02 AM) FIRE IDZIK
azjetfan Icon : (19 August 2014 - 08:33 AM) out side of Revis who left we should have kept?
azjetfan Icon : (19 August 2014 - 08:34 AM) The Revis deal sucks but $16 million was too much for a CB and once he was gone he was not coming back.
Mr_Jet Icon : (19 August 2014 - 11:00 AM) Matt Slauson
azjetfan Icon : (19 August 2014 - 01:00 PM) Eh. I think with our current cap situation we will be able to retain guys like Wilkerson and whomever we want to keep. We are in a good position right now.
Mr_Jet Icon : (19 August 2014 - 01:49 PM) Time will tell.
Jetsfan115 Icon : (19 August 2014 - 02:00 PM) landed revis abck. got DRC, nope we take patterson who got owned and always hurt. milner always hurt. 3rd round CB done for season. were gonna get passed on all day
azjetfan Icon : (19 August 2014 - 02:44 PM) Yea the DRC bit makes me iffy
Jetsfan115 Icon : (19 August 2014 - 03:35 PM) better then patterson
azjetfan Icon : (19 August 2014 - 05:45 PM) No I mean the fact that he whiffed on him.
azjetfan Icon : (19 August 2014 - 05:46 PM) I'm not saying Idzik is perfect. I just like the direction we are heading. It's going to take some patience.
RetireChrebet Icon : (19 August 2014 - 06:27 PM) I like how our lack of secondary is the hot topic right now. The bigger issue is we still will not be able to throw the ball. We are not going to do much of anything regardless until we get a QB. Sorry for being so negative just my honest opinion.
RetireChrebet Icon : (19 August 2014 - 06:29 PM) With that said I think our running game with CJ and Powell will be top 10 or somewhere around there
Jetsfan115 Icon : (19 August 2014 - 06:35 PM) i have faith that if geno messes up that vick can come in and do well. but i have 0 faith in our secondary right now which has been our strong point for the past 4 years or so
MikeGangGree... Icon : (19 August 2014 - 07:35 PM) I agree 115. but the one thing is Rex has done some good things in the past with shitty DBs and still had a solid D going back to his years in BAL
MikeGangGree... Icon : (19 August 2014 - 07:37 PM) Corey Ivy CB
36 Jim Leonhard SS/PR
43 Haruki Nakamura FS
25 Evan Oglesby CB
20 Ed Reed FS
22 Samari Rolle CB
39 Daren Stone FS
41 Frank Walker CB
31 Fabian Washington in 2008
MikeGangGree... Icon : (19 August 2014 - 07:39 PM) Reed is a HOF but Rolle was way past his prime
MikeGangGree... Icon : (19 August 2014 - 07:41 PM) SNOOPY BOWL FRIDAY!!!
MikeGangGree... Icon : (19 August 2014 - 07:41 PM) WOOOOOOOOOOOOO
azjetfan Icon : (19 August 2014 - 08:26 PM) I assume we will pick up a guy after the cuts happen.
Jetsfan0099 Icon : (19 August 2014 - 10:14 PM) we'll see but I think we see better QB play than we have in a while.
518-JeTS-FaN Icon : (Yesterday, 08:54 AM) disgusted with my local programming, instead of jets and giants they are airing the raiders vs packers..wtf
HarlemHxC814 Icon : (Yesterday, 09:23 AM) Glad I don't live up there anymore haha
ganggreen2003 Icon : (Yesterday, 06:59 PM) The JETS are #6 in the Forbes List for most franchise value
ganggreen2003 Icon : (Yesterday, 06:59 PM) The Buffalo Jills are #31 and the Miami Dolphags are #16 respectively
ganggreen2003 Icon : (Yesterday, 07:00 PM) The JETS are worth $1.8 billion
jet-man Icon : (Yesterday, 10:03 PM) that's less than the clippers
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: 2,893
  • 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: 2,893
  • 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: 7,488
  • 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: 2,893
  • 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: 7,764
  • 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: 2,893
  • 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