Wells Fargo hoped it would help it avoid a very costly sit-down with Preet Bharara, but a federal appeals panel didn’t buy the “we’re just an old-timey stagecoach company that didn’t know we were saddling the government with the bill for all of the bad loans we were making, and oh yea didn’t we already settle this thing already?” argument. Expect another “Bank X To Pay $Y Billion To Settle Mortgage Claims” headline between now and early next year. Read more »
Earlier today, Wells Fargo announced that it would be getting into the news business, with the launch of Wells Fargo Stories, “a vibrant online magazine that showcases how the company’s team members work to help customers succeed and communities thrive around the world.” And while that’s all well and good, and we wish the publication the best, it might have considered waiting until volume 10 or 13 before rolling out a story that involves speeding trains, an elderly couple, and A WELLS FARGO EMPLOYEE WHO POSSESSES SUPER-HUMAN STRENGTH, which will be difficult to top. Read more »
Bank of America mortgage servicers, not so much. Read more »
…and that would be that he’s too good for Wells Fargo, and he’s wasting his time trying to score a position with the firm. In sum, it’s not him, it’s you, a notion he expressed in an email circa 5AM on Sunday.
Sent: November 24, 2013 5:27 AM
To: [redacted at Wells Fargo]
Subject: Disregard My Application
Dear [redacted at Wells Fargo],
After thinking it over I would like to disregard my application I sent this past week out for recruitment for Wells Fargo securities. Looking at my resume again I realize I can do way way better than Wells Fargo and I don’t want to settle for less. Please don’t take it personally. Thanks for your time. I hope you have a great Thanksgiving holiday.
And the below went out circa 2AM this morning, just to emphasize the point. Read more »
A couple thousand employees have bid the company and its mascot (a stage coach) adieu. Read more »