Wells Fargo GUILTY of Defrauding Customers!!

wells-fargo

HAS HELL FINALLY FROZEN OVER IN THE US BANKING LAND???

Well’s Fargo Bank today fired 5300 employees across the nation and the bank has been fined $190 million to settle a consumer fraud case!  Of the $190 million, $5 million will go to bank customers.  Regulators say Well’s Fargo Bank employees pushed customers into fee-generating accounts that they never requested and/or did not want.  The bank settlement was with Federal Banking Regulators and California prosecutors.

The suit was filed against Well’s Fargo in May 2015 in which California prosecutors alleged that the bank pushed customers into costly financial products that they didn’t need nor request.  These products included savings accounts, credit card, and online accounts that all generate fees.

Well’s Fargo told their employees that the average customer uses about 6 financial tools and the bank encouraged their employees to jack that up to EIGHT!  As a result more than 2 million deposit and credit cards were opened and some may have NOT been authorized by customers!  Well’s Fargo officials said today,  “We regret and take responsibility for any instances where customers may have received a product that they did not request.”  That’s all fine and well BUTtttttttttttttt…………………

The bank encouraged their employees to get customers to use 8 financial tools and now that the bank has been found guilty of FRAUD they’ve fired those very employees that the BANK encouraged anyway!  If you need any more proof that the American banking system is CRIMINAL look no further!!  Let us not forget the banks SACKING OF THE US TREASURY (aka:  Bailouts).  You remember, that’s when Paulson the Bush 2’s Treasury Secretary told Congress in the midst of the night (literally) that if Congress didn’t approve the bailout there would be Marshal Law in the streets of America the next day!  So Congress approved the bailouts without even knowing what was in the legislation.  Of course, MOST CONGRESSMEN do NOT real ANY BILLS prior to voting on them so MOST CONGRESSMEN AND SENATORS have no clue as to what is actually in those bills.  Incompetent?  BINGO and ought to be FIRED all 535 of the RATS!!

I knew when the bailouts were made that our Banks were criminal and now Well’s Fargo has proved it to me beyond any doubt.  If you ask me some of the upper crust of the bank should be criminally prosecuted and set in a Federal Prison somewhere!  Why do these banks keep getting away with their CRIMES????  And here’s something else.  Well’s Fargo was caught DEFRAUDING CUSTOMERS but HOW MANY BANKS DOING THE SAME THING HAVE NOT YET BEEN CAUGHT?  Plenty I’d bet!!

For more see:

http://www.aol.com/article/finance/2016/09/08/wells-fargo-fined-190m-to-settle-customer-fraud-case/21468423/

 

Consumers SHUT UP or Else!!

Corporate America has a better gig going than the Mafia ever thought of.  Companies are increasingly worried about bad reviews consumers post online on such sites as Yelp and, basically, the message from Corporate America is “Shut up or else!”.  If that’s not intimidation what is?

Most people don’t read the Terms of Service when they go to a website or sign a document.  Most just check the box saying they agree without even knowing what the Terms of Service are or say.  What you need to be aware of is that in many of those TOS there is a Non-Disparagement Clause and if you agree to the TOS then you give up your right to criticize the business publicly!  If you violate this TOS and criticize a company publicly then you could be hit with thousands of dollars in penalties for bad mouthing the company online or anywhere else.  It’s the old “muzzle approach” of INTIMIDATION designed to SHUT YOU UP when you are unhappy with a company’s service or product.  It comes from the same mold as the Mafia sending around their hitman to intimidate you a bit so you SHUT UP. You shouldn’t be surprised, however, as Corporate America and its Corporatist THUGS operate this way routinely.  Screw you rights!  All they want is your MONEY and if you bad mouth them they put the screws to you just like the Mafia!

The watchdog group called Public Citizen says companies use these “unjust terms to bully dissatisfied customers into silence.”  Intimidation…bullying….SAME means used by THUGS!!  Enters now that WORTHLESS and INCOMPETENT body known as the US Congress……………………

A bipartisan group in that not-so-august body is proposing a federal law that will end this Corporatist intimidation and THUGGERY and restore the right to free speech to consumers.  The proposed law is called the CONSUMER REVIEW FREEDOM ACT and it spawns from a similar law passed and signed in California last year.  If approved by Congress the new law would make it illegal for companies to threaten consumers or seek enforcement of the TOS or to penalize consumers for badmouthing companies.

Hold your breath America until that WORTHLESS body of Corporatist LACKEY’S known as Congress passes this law.  I’m sure that Corporate America will threaten and intimidate our elected public servants into making sure this Act never sees the light of day on the floor as Congress no longer represents the American people but only their Corporate overlords and owners!

Frankly, I think it’s time American consumers start biting back at these Corporatist DOGS!  One of the easiest things to do is to STOP BUYING THEIR PRODUCTS OR SERVICES!  That will Corporations up quickly and if not then they’ll soon be OUT OF BUSINESS!  American consumers have POWER so USE IT!  Enough of the Corporate Mafia already!  Fact is MOST OF THEIR products are SHIT and most of their services are sub-standard.  Why?  Because these THUGS think the American consumer (YOU) are IDIOTS and they laugh behind our backs like you wouldn’t believe!

For more see:

http://www.latimes.com/business/la-fi-lazarus-20150508-column.html