Wells Fargo Earnings Still Hampered By Banking Litigation

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    Wells Fargo fell 9 percent Monday after the Fed said Friday it is restricting the bank’s size in response to “widespread consumer abuses.”

    Wells Fargo & Co NYSE: WFC · February 5, 3:49 PM EST 57.99 ▼ 6.01 (9.39%)


    BANKS have a fiduciary responsibility … and this will improve going forward — but some damage was done & need to focus on best practices going forward


    and still Buffetts largest holding in 3Q17


    Where would Buffett be if AIG wasn’t bailed out in 2008? Have to say I am not a big fan of him.


    Behavioral economist and 2017 Nobel Prize winner in economics Richard Thaler called Wells Fargo $WFC “slimy” in a tweet Thursday “Oh, this is slimy indeed. Thick #sludge. We need a #sludge hall of shame. Please send nominees and copy,” he wrote.”

    Wells Fargo forcing people to opt in to being paid money they’re owed is “thick sludge,” Thaler said on Twitter.

    “We are focused on making things right for our customers and ensuring this large-scale remediation happens correctly and as quickly as possible,” Wells Fargo said in a statement. “Communications to date have been intentionally focused on accounts with smaller refunds and requests for customers to send us additional information.”
    It expects the process to be complete by the second quarter of 2018.


    the slimy countries are a threat to national security
    taking money out of peoples hands is a hindrance to the sound economic system (hard to say that without laughing, but I think you get the point)


    Slimy has been the domain of the bankers since Jesus tipped over the money changers tables ……..maybe before ….

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