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The Killing Season - Websleuths

Websleuths News


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  1. #1
    Join Date
    Dec 2008
    Location
    Rochester, New York
    Posts
    30,573

    Fed hits Wells Fargo with $85 million fine

    http://money.cnn.com/2011/07/20/news....htm?hpt=hp_t2

    Fed hits Wells Fargo with $85 million fine
    By Ben Rooney @CNNMoney July 20, 2011: 5:21 PM ET

    NEW YORK (CNNMoney) -- The Federal Reserve announced a record $85 million fine Wednesday against Wells Fargo for allegedly pushing borrowers with good credit into expensive mortgages and falsifying loan applications.

    The Fed accused the nation's fourth largest bank by assets of steering potential borrowers who could have qualified for prime rates into more expensive subprime loans....

  2. #2
    My parents were victims of this. Thank you for the article.

  3. #3
    Join Date
    Feb 2009
    Posts
    9,085
    Much better than a bail out.

  4. #4
    Join Date
    Jun 2011
    Location
    Behind the eight ball
    Posts
    2,928
    HA! Figures! My Wachovia was just bought by Wells Fargo! There goes my bank fees! Sigh. I'm so sick of Big Corporations especially the banking industry. Thanks for the article...
    It's just MOO. I could be wrong. Wouldn't be the first time and it surely won't be the last!

    Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity. ~ Martin Luther King, Jr.



  5. #5
    Join Date
    Apr 2005
    Posts
    30,910
    Quote Originally Posted by deelytful1 View Post
    HA! Figures! My Wachovia was just bought by Wells Fargo! There goes my bank fees! Sigh. I'm so sick of Big Corporations especially the banking industry. Thanks for the article...

    ditto! Now I have to watch my accounts like a hawk cause banks tend to change the rules without ever telling ya and sneaking in new fees & rules


    Nosy by Nature and a Websleuther by choice

  6. #6
    Join Date
    Nov 2008
    Posts
    4,970
    Hm, 85 million, 25 billion, wonder who won?

    http://www.cbsnews.com/stories/2009/...n4788018.shtml

    thanks congress
    "Crack up the music and dance!"



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