Richard Eggers knows what we’re talking about.

The former farm boy speaks deliberately, can’t remember the last time he got a speeding ticket, and favors suspenders, horn-rimmed glasses and plaid shirts. But the 68-year-old Vietnam veteran is still too risky for Wells Fargo Home Mortgage, which fired him on July 12 from his $29,795-a-year job as a customer service representative. Egger’s crime? Putting a cardboard cutout of a dime in a washing machine in Carlisle on Feb. 2, 1963. “It was a stupid stunt and I’m not real proud of it, but to fire somebody for something like this after seven good years of employment is a dirty trick when you come right down to it,” said Eggers of Des Moines. “And they’re doing this kind of thing all across the country.”

Big banks have been firing low-level employees like Eggers since the issuance of new federal banking employment guidelines in May 2011 and new mortgage employment guidelines in February. The tougher standards are meant to weed out executives and mid-level bank employees guilty of transactional crimes, like identity fraud or mortgage fraud, but they are being applied across-the-board thanks to $1-million-a day fines for noncompliance…Bank of America has embarked on a similar firing binge to shed any employee convicted of a criminal offense involving dishonesty, breach of trust or money laundering, employment attorneys say.

Wells Fargo fires Des Moines worker for laundromat incident 49 years ago [DMR]

10 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (10)

  1. Posted by Dick Head | August 29, 2012 at 3:49 PM

    Vietnam was hell.

    -Guy That Sleeps On 143 Cardboard Cutout Dimes

  2. Posted by Sean | August 29, 2012 at 3:49 PM

    Customer Service Reps are a cardboard dime a dozen.

  3. Posted by whack a mole | August 29, 2012 at 4:37 PM

    Show of hands……how many of you in dis room knew we was fixin' LIBOR? Let's see that's ….um….carry the one…..that's….um……fifty gazillion dollars per fortnight……your pay will be clawed back form 2008. Have a nice day…..

    Guy who thinks that whacking vets in DesMoines is probably what made some Mayan dude think its over in December

  4. Posted by GM-Laid-Me-Off | August 29, 2012 at 4:38 PM

    Another fine example of middle management shit'n their tighty-whities. This tugs at the heart.

  5. Posted by VonSloneker | August 29, 2012 at 5:13 PM

    It'll always be "too soon."

  6. Posted by Sobchek Capital | August 29, 2012 at 5:13 PM

    Am I the only one around here who gives a shit about the rules?


  7. Posted by 25thHourTrader | August 29, 2012 at 6:42 PM

    "Bank of America has embarked on a similar firing binge to shed any employee convicted of a criminal offense involving dishonesty, breach of trust or money laundering, employment attorneys say."

    Good afternoon and welcome to the 3Q12 conference call. I want to give you all an update on Project BAC. We are upwardly revising our estimated savings from the recently announced layoffs to $400 million due to the fact that we will no longer have to pay severance to the terminated employees since they were fired for cause. The cause was a combination of dishonesty and breach of trust when they were caught red handed with their hand literally in the cookie jar when they were 7 years old. I'll now open the call up to your questions. Operator…

    -BAC CEO who knows how to turn a lemon (compliance) into lemonade (saved money)

  8. Posted by Guest | August 29, 2012 at 7:13 PM

    It's not right, but doesn't surprise me much at a large company since his crime probably is classified as something like "fraud" or "counterfeiting". Reminds me seeing that in some states there are guys who are registered sex offenders basically for being 18-year old guys who had sex with their 16-year old girlfriends, which gets classified as statutory rape. Makes no sense at all to worry about those guys but let Laxbro and N '08 freely roam the streets.

  9. Posted by Bernie | August 30, 2012 at 10:41 AM

    I could understand a cardboard cutout of a shekel but a dime? Please..

  10. Posted by Masini Spalat | March 6, 2013 at 11:36 AM

    Omg theres some people in this world…