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

Jump to content

Toggle shoutbox NYJETSFAN BANTER

New York Jets owner, Woody Johnson, named US ambassador to the UK
MikeGangGree... Icon : (01 January 2017 - 01:41 PM) Hack should be playing
MikeGangGree... Icon : (01 January 2017 - 03:39 PM) wooooo5-11
MikeGangGree... Icon : (01 January 2017 - 04:00 PM) J-E-T-S JETS JETS JETS!
MikeGangGree... Icon : (01 January 2017 - 05:56 PM) OK so Bill O brien and Sean Payton might get fired according to Fox this morning
MikeGangGree... Icon : (01 January 2017 - 05:56 PM) I would do anything to get one of them as OC
santana Icon : (02 January 2017 - 02:19 PM) texans coach? i doubt he gets fired
santana Icon : (02 January 2017 - 02:19 PM) but he would be ideal if the jets were to flush bowles out
santana Icon : (02 January 2017 - 04:36 PM) http://www.nj.com/je...trol_of_je.html
azjetfan Icon : (05 January 2017 - 09:54 PM) Sean Payton will get another HC gig. Obrien would be good.
azjetfan Icon : (09 January 2017 - 11:18 PM) Howard from Alabama seems legit. #88 TE
azjetfan Icon : (09 January 2017 - 11:20 PM) Williams the WR from Clemson looks like they are out to get him. He has taken some huge hits
vjdbbq Icon : (10 January 2017 - 07:12 AM) We'll take Williams in the first round .
Chadforpresi... Icon : (10 January 2017 - 10:48 AM) I'd love Howard in the 2nd round if he's still there. I like Williams a lot as well, but I just don't see WR being big enough of a need, and there should be better talent on the board at 6
Jetsfan115 Icon : (10 January 2017 - 07:21 PM) Raiders OC Musgrave not expected to return to OAK. what do you think about getting him? he did wonders with the oakland offense this year
Chadforpresi... Icon : (10 January 2017 - 07:39 PM) Definitely an appealing choice given with his history of progressing Carr. We need someone with a track record of grooming young QBs
MikeGangGree... Icon : (12 January 2017 - 12:36 PM) I want Watson now! after what he did Monday night I'm sold on him at QB. He moved the ball all night on Alabama and after hurts scored that TD he just told his team "Lets end this"
Jetsfan115 Icon : (12 January 2017 - 06:31 PM) An Ohio prosecutor says he wants to know what punishment Cincinnati Bengals player Adam "Pacman" Jones faces from the NFL before deciding how to proceed over Jones' latest arrest, Dan Sewell of the Associated Press reports..

Hamilton County Prosecutor Joe Deters tells WKRC-TV he's asking "what is the normal" for a player with multiple offenses and who's been suspended before.

An NFL spokesman said on Thursday that Jones' case is "under review" and declined to comment further.

Jones was jailed Jan. 3 on charges he head-butted police and spit on a nurse after his arrest for assault. Authorities say he was so combative he had to be placed in a restraint chair.

Jones says he anticipates the charges will be dismissed.
Jetsfan115 Icon : (12 January 2017 - 06:32 PM) we wont get watson. he's going 1st overall to the browns
azjetfan Icon : (12 January 2017 - 09:06 PM) Is Watson a product of Clemson's staff and supporting cast? Taj Boyd also put up some decent numbers if I remember correctly but he couldn't even make a scout team in the NFL.
azjetfan Icon : (12 January 2017 - 09:11 PM) From what I have read (although limited) he is not the highest ranked QB in the draft.
azjetfan Icon : (12 January 2017 - 09:11 PM) "No quarterback in this draft -- not Mitch Trubisky, not Watson, not DeShone Kizer -- is considered a sure thing. The folks at Scouts Inc. rank Trubisky, Watson and Kizer as the 21st, 38th and 46th prospects on their big board, respectively." ESPN
azjetfan Icon : (12 January 2017 - 09:12 PM) If we can get a decent return for Richardson we may be able to make a move into the mid teens to early 20s if the Brass really likes Watson.
azjetfan Icon : (12 January 2017 - 09:13 PM) Personally I don't think the jets have a clue on who they will take. We still have to hit FA and manage our roster
azjetfan Icon : (12 January 2017 - 11:46 PM) Jets to interview Broncos assistant Studesville for OC
Jetsfan115 Icon : (13 January 2017 - 01:28 PM) Why? seems like a weird choice
Jetsfan115 Icon : (13 January 2017 - 01:29 PM) Leonard Williams replacing Khalil Mack in Pro Bowl
Chadforpresi... Icon : (13 January 2017 - 09:49 PM) I'm not buying Watson, even after that championship game. Dude threw too many picks in his day
Chadforpresi... Icon : (13 January 2017 - 09:49 PM) I'm really curious to see what we get for Richardson, but I have a bad feeling his value is at an all time low between his crap season and bad attitude
azjetfan Icon : (14 January 2017 - 12:16 AM) I agree. He is a first round talent but a fourth round headache. We will be lucky to get a 2nd
Chadforpresi... Icon : (14 January 2017 - 08:41 AM) Yeah precisely. 2nd rounder would be a huge stretch. 3rd or 4th is more likely
vjdbbq Icon : (14 January 2017 - 02:18 PM) Send Sheldon someplace he will never see the playoffs ; like Jacksonville ; then he will have time to find da ho's .
azjetfan Icon : (14 January 2017 - 07:25 PM) R Sherman is getting torched by the Falcons.
vjdbbq Icon : (16 January 2017 - 09:37 AM) Pats vs Pitt - root for injuries
Jetsfan115 Icon : (16 January 2017 - 12:36 PM) GB-ATL game is gonna be a hell of a shootout. that throw rodgers made on 3rd and 20 with 12 seconds left in a tied game was ridiculous. 35 yards rolling out to his left a perfect placed ball on the sideline.
azjetfan Icon : (16 January 2017 - 10:50 PM) Winters resigned to 4 year deal. $7 million per year
Chadforpresi... Icon : (16 January 2017 - 10:51 PM) Seems like a slightly steep price but overall cool with it, he's turned into a good player and is still young. Just needs to stay healthy.
Jetsfan115 Icon : (17 January 2017 - 04:12 PM) seems like a good deal. they were saying he could have earned over 8 million in the open market
vjdbbq Icon : (18 January 2017 - 08:12 AM) Where's Rob ?
vjdbbq Icon : (18 January 2017 - 08:12 AM) Is he looking for a new ass ?
vjdbbq Icon : (18 January 2017 - 08:12 AM) :saythat:
vjdbbq Icon : (18 January 2017 - 08:13 AM) :trink39:
Jetsfan115 Icon : (18 January 2017 - 01:32 PM) 4 years 29 mil 15 mil guarenteed. so 7.25mil a year for winters. a nice bargain. he took a hometown discount. seems like a good guy. well done winters and mac
Jetsfan115 Icon : (18 January 2017 - 04:33 PM) Jets hire Dennard Wilson as defensive backs coach
Jetsfan115 Icon : (Yesterday, 04:01 PM) Trump to name Jets' owner Woody Johnson U.K. ambassador
vjdbbq Icon : (Yesterday, 06:04 PM) Maybe Woody will take the Jets with him to London . PLEASE PLEASE PLEASE
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: 3,203
  • 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: 3,203
  • 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: 7,493
  • 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: 3,203
  • 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: 8,004
  • 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: 3,203
  • 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