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Wells Fargo

What day is it? Any day? Then we have news for you about bank fuckery!

This story comes to you courtesy of Wells Fargo, which you will remember as the bank that last year got busted for making up accounts for people without permission and intentionally confusing elderly people into getting more accounts and credit cards.

They felt really bad about it! They slapped people on wrists and things! They promised they’d change!

So of course they turned around and did the same damn thing again, only this time it was New And Improved, With Bonus Extra Racism, and they did it on Navajo land!

Now, first thing to know is that Wells Fargo is the only bank allowed to operate on Navajo land. So it’s not like customers could just decide to switch to a different, not-evil bank. (To be fair, neither can the rest of us, but we can at least pretend that we bank at a less-evil institution. Or at least one with a better fee structure.) When the accounts scandal first happened, Wells sent a letter to the tribal leaders assuring them that there weren’t problems at the tribal locations.

That was, of course, as true as your average White House press briefing. Not only were there all the same troubles as Wells admitted to in other parts of the country, the bank actually targeted elders and minor children. Let’s read, from the lawsuit:

“Under intense pressure from superiors to grow sales figures. Wells Fargo employees lied to Navajo consumers, telling elderly Navajo citizens who did not speak English that in order to have their checks cashed, they needed to sign up for savings accounts they neither needed nor understood. Wells Fargo representatives stalked local events like basketball games and flea markets to sign up consumers for unnecessary accounts en masse, especially targeting Navajo women who sold native crafts and products. They opened accounts for underage Navajo citizens, going so far as to falsify birthdates to avoid obtaining necessary parental consent. And Wells Fargo employees even strong-armed Navajo family members into signing up for Wells Fargo products they did not need—all in an effort to satiate Wells Fargo’s desire for ever-increasing account figures and profits.”

So the Navajo are suing Wells Fargo for $50 million, which seems kind of low to us really.

Oh, and the people who busted Wells on the scandal to begin with? That would be the Consumer Financial Protection Bureau. Yeah, you know, that thing Mick Mulvaney’s maybe not in charge of but he’s gutting anyway. He’s freezing investigations, halting data collection and installing weird political appointees every place he can.

Putting Mick Mulvaney in charge of the CFPB is about like putting Betsy DeVos in charge of public schools: They hate the thing they’re tasked with running, so they’re doing their damnedest to destroy their agencies. This, of course, is America merely returning to its former greatness.

We didn’t elect the child molester guy but MAGAmericans can probably take solace in the fact that we’re still totally letting multinational financial institutions literally colonize Native land, because the people who are still with the child molester guy are amoral fuckbags at best and willfully evil at worst so it stands to reason they’d celebrate something like that.

[LAT/Courthouse]

Yr Editrix has never once forced anyone to buy a fraudulent or unneeded financial services product but she does force the writers to take pay like some kind of dictator so pay the lady:

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  • Joe Beese

    Support your local credit union.

    (At worst, they’ll be fomenting evil on a smaller scale.)

  • Timothy Watson
    • Ryan Denniston

      But I bet her husband had bigger “hands.”

    • wide_stance_hubby

      Key word here: once.

    • kilgoretrout

      I’ll bet her husband doesn’t harass women elevators.

    • wide_stance_hubby

      I hope she is living it up when he’s going down.

      • A Groucho Marxist

        Yo, I don’t appreciate that earworm AT ALL

        • wide_stance_hubby

          Um ok

  • schmannity

    time for some Native American raids on Wells Fargo stagecoaches.

  • Crystalclear12

    I remember when Bank of America was the most evil.
    Boy, that title is hard to hold!

    • MynameisBlarney

      Wells Fargo bought out BoA.

      • Crystalclear12

        So the previous title holder was eaten by the current.
        Wasn’t there a futurama episode like that?

      • TundraGrifter

        I don’t believe that is correct.

        • MynameisBlarney

          You’re right.
          Too many facts about past fuckery goes down the memory hole.

          • TundraGrifter

            No biggie. I remember when Wells bought Northwestern (I hope I have that name correct) and in due course announced that $400,000,000 in accounts couldn’t be “reconciled.” That’s not to say the money was missing – they just couldn’t account for all of it.

    • Royal Ugly Dude

      Citibank libel!!

  • Ryan Denniston

    We’re only considering banks here, right? Because TimeWarnerCable was evil incarnate.

    • MynameisBlarney

      Comcast laughs at those amateur dabblers!

      • Ryan Denniston

        Comcast cries, hold my beer!

    • TundraGrifter

      When an institution calls itself a “bank” it is supposed to hold itself to a higher standard. It’s not a pawn shop, a payday loan establishment, it doesn’t offer title loans. It’s a damn “bank” and that should mean something.

      Sadly, these days, all too often, it doesn’t.

  • TundraGrifter

    I’ve written this before. In the 19th Century, Black Bart robbed Wells, Fargo. Today, Wells Fargo robs its customers.

    • Now hold on, I thought Black Bart was the Sheriff in Rock Ridge.

  • Michael Smith

    “Oh, and the people who busted Wells on the scandal to begin with? That would be the Consumer Financial Protection Bureau.”

    Oh yeah, that bureau that the cons have been screaming is an outrageous example of government overreach that stifles growth in the banking sector? I guess that would be true if you define “growth” as conning Native Americans out of their property. I mean, what is this, the 19th Century?

    Seriously, is it? It kind of seems like it. If it is, I need to know so I can grow a mustache.

    • Non-Threatening Ron
      • MynameisBlarney

        3 row down, 2nd from left looks like he’s kill’t him a few thangs what needed killin’. And kill’t him a few more what didn’t.

        • Good_Gawd_Yall

          I wouldn’t have wanted a glimpse of top row left’s basement, either.

        • Good_Gawd_Yall

          I wouldn’t have wanted a glimpse of top row left’s basement, either.

        • Seek

          What about the dude at the lower right corner? If my aged eyes ain’t mistook it – He appears to be necked from at least the waste up? I wasn’t aware that this was encouraged back in the day,

          • MynameisBlarney

            He was probably one of them dang innerlekshals.

  • Non-Threatening Ron

    Some of you might have caught this little throwaway gag in the wonderful movie, ‘Despicable Me.’ http://3.bp.blogspot.com/-ls-BFqv9VbA/ULEK47Qre-I/AAAAAAAAABQ/ZpZ_EkcrquI/s1600/despicable-me-bank-of-evil.jpg It seems to me that Wells Fargo is working hard to earn the title away from them. Heck, they’re succeeding.

    • Zyxomma

      I’ve never seen Despicable Me or Minions. I put it to the Wonketteers: Is it/are they worth my time? Please note: I detest, despise, and loathe music of the Danny Elfman*/John Williams variety; that is, overblown, constant, tacit-free shit that treats my ears like garbage cans and my mind like silly putty.

      *Forbidden Zone doesn’t count; I liked that.

      • It is worth it. They don’t sing like in disney movies and the musical score can always be muted. First one is funny as all get out. Succeeding ones also funny, but more cute funny

        • Natalie Au Natural Hedonist

          I love them.

      • Non-Threatening Ron

        I think so, but then, I also like fruitcake, so make of that what you will.

    • Where do you think the Lehman bro execs went?

  • Ling Ling

    This is a job for… RANGO!

  • canes_pugnaces

    Banks don’t rob native Americans, being poor does. Just wait ’til the GOP and Trump have another few years of this. The majority of Americans will be eating lottery tickets and dirt. Including the morons who vote for this shit.

  • Ryan Denniston

    Isn’t Wells Fargo the bank that took over Wachovia (WatchOverYou)?

    • wide_stance_hubby

      My fave rebranding is Walkalloverya.

      • SkinlessGenderlessMan

        I shoulda pushed the Load More Comments button….

    • theblackdog

      Yup!

    • SkinlessGenderlessMan

      Wrong pronunciation. It’s “WalkAllOvaYa”. Also, the “All” is silent….

  • schmannity
  • Tetman Callis

    I don’t know if the Navajo have a social meeting similar to one the Mescalero Apache have, but maybe they do and I hope so. I learned when I lived in New Mexico that if you crossed the Mescalero and you were on their reservation, they would invite you to go on a “picnic.” Or, if you didn’t want to go, or even if they forgot to send you an invite, they might take you on a “picnic” anyway. What was served at these outings was not cold chicken and potato salad.

    If I were a Wells Fargote and I got a picnic invitation from anyone in the Navajo Nation, I think I might just want to leave town, in broad daylight, right away, and not head towards the Four Corners.

    Just sayin.’ And no, I never got invited on a “picnic,” but I knew of it happening.

    • Oblios_Cap

      So… I’m guessing raisin pie was on the menu?

  • OrG

    Credit Unions.

    • OrdinaryJoe

      Big enough community, you would think they had one. Somebody made money selling WF the contract to operate.

    • blaid droog

      Only way to go. Been with the same one for 12 years. No fees. No complaints.

      • Seek

        And you can use any CU’s atm for no fee. Incredibly, stupidly easy

    • theblackdog

      Not an option in many rural areas in AZ and NM. In fact, only Shiprock, NM had a listing for a credit union and it was actually a half-hour drive over to the next town to reach one.

  • Oblios_Cap

    Huh. Who would have thought that bankers could be so unscrupulous?

    • Stulexington

      But Bush believed the banks could regulate themselves, I don’t understand.

      • LeighBowery’sLuxuryComedy

        Oh, they *could*. They WON’T, but they could.

  • Anna Rompage

    I still fail to see why banks, and investments firms that also run banks, should have regulatory oversight…

    Said no sane person ever…

    • blaid droog

      Big dog destroyed Glass-Stegall and was proud of himself for doing so.

  • calliecallie

    Just the fact that Wells Fargo is the only banking institution allowed to operate on Navajo land seems like an insult to native people, frankly.

    • Non-Threatening Ron

      ‘We were the only white people who went through regularly. One day we just decided to stay.’

    • phoenix00

      Yeah why can’t they PULL THEMSELVES UP BY THE BOOTSTRAPS and make their own bank like righteous FREE MARKET SOLUTIONS-oriented folks?

    • theblackdog

      I’d have to check the history but I wouldn’t be surprised if some of them were other banks until Wells Fargo bought the bank.

      Also Window Rock and Tuba City have a Bank of America in addition to Wells Fargo.

  • OrG

    Banks are organized crime with a facade of respectability.

    • Crystalclear12

      The facade is crumbling.

    • blaid droog

      They don’t even have a facade of respectability.

    • phoenix00

      And the credit crisis tore down that facade.

      Or have we forgotten about that already?

  • calliecallie

    #Notallbanks
    Wait, what? Never mind.

  • Oblios_Cap

    Just Making America Great Again – like back when the bankers took granddad’s farm during the Dust Bowl.

    • blaid droog

      There was a dust bowl in 2008?

  • goonemeritus

    I just watched “It’s a Wonderful Life” and I don’t remember George Bailey ever doing this.

    • Oblios_Cap

      He was merely a lowly building and loan guy, not a real banker.

    • Kneeling Bozilingus

      Mister Potter did go on to found Wells Fargo.

  • Oblios_Cap

    Did they give out free blankets with every account opened?

    • Non-Threatening Ron

      Also, bottles of firewater.

      • Oblios_Cap

        and rifles!

        • Résistance Land Shark Ω

          … and the exchange rate for native American beads to Ameros was strikingly bad also too.

    • Natalie Au Natural Hedonist

      I’d say General Amherst libelz but he was a dick.

  • OrdinaryJoe

    Wealth Forgo.

  • schmannity
  • Oblios_Cap
    • Ryan Denniston

      That’s so undignified, unseemly even. 5 to 6 times a day?

      • Doug Langley

        “Just checking to see if anything opened up in the past hour.”

        • Kooolest G

          to be fair, there are lots of unexpected job openings in the trump white house, and that is very likely to continue

    • wide_stance_hubby

      And now, her cabinet position is ‘overhead.’

    • JustDon’tSayProbably

      Dafuq did she think she was qualified for?

      Oh, wait…

    • phoenix00

      Should’ve just taken out an ad on Fox & Friends! Sad!

    • sgt. jmk of the résistance

      So… Trump got tired of hearing from her and made someone else fire her?

      Yeah, he’s a great leader.

    • Did she not realize she was not white and owns a vagina?

  • Ryan Denniston

    This seems like a serious and important issue, especially for this group of people. Agreed, not as important as proper email management practices, but important too also.

  • Kneeling Bozilingus

    Please, find a local Credit Union and do your financials with the CU. Local is better.

    • theblackdog

      All of the locations named in the article are in rural areas. A cursory search of each one finds that only Shiprock, NM has a credit union which is a half an hour drive over to Kirkland, NM. A CU is not an option.

  • Squeegee

    I’ve had friends who worked as mid level executives at Wells Fargo and the horror stories they told me about working there would make your skin crawl. I think they get it the worst as they’re responsible for bringing in business.

    Don’t bank there they don’t deserve your business the way they treat their people.

    The same way Wal Mart doesn’t deserve your business for cheating its employees of health care and a living wage.

  • Kneeling Bozilingus
  • Stulexington
    • LeighBowery’sLuxuryComedy

      Oh please let it pass my door..

  • Squeegee

    I had over a million dollars in various accounts at Wells Fargo but cashed it out over their poor human rights record and now I keep that million dollars in unmarked bills in my mattress at home.

    • Where is your address? Asking for a friend…

      • Daniel

        Lagos.

  • Break up the banks. Put executives in Federal prison. Repeat until banking is a clean, above board industry.

  • Kooolest G

    don’t worry native americans, trump will have your back. as a white guy who owns casinos, he’s definitely got your best interests at heart

  • Zyxomma

    Is there no way for the Dine (the Navajos’ word for themselves to create and run a federal credit union? They’d be way better off.

    • Non-Threatening Ron

      I’m guessing this is one of those times when the Federal government suddenly thinks regulating financial institutions would be a GREAT idea.
      ‘They’re just like children when it comes to money. It’s for their own good, really.’

      • Nola Saint

        Exactly…They’d probably just spend their money on loose womenz and fire water…/s/

        • Hesavebread!

          They’d probably just spend their money on pee hookers and vodka . . . /s/ FTFY

    • phoenix00

      You’d think that would be a good FREE MARKET SOLUTION wouldn’t it…..

  • blaid droog

    When my partner and I first moved to San Francisco, I thought it would be cool to do business with such an historic institution. I went into a location near our apartment and there was a line of at least 100 people waiting their turn to see one of the 10 tellers. I walked out found a phone book, looked for the smallest bank I could find. A savings and loan company, with 2 locations. One, a block from my job. Opened an account and was happy for the next 6 years. Often smaller is better, unless you’re talking about dicks.

    • mardam422

      “Often smaller is better, unless you’re talking about dicks.”
      I KNEW my innie wasn’t really cute, like she said.

  • Cock Blockula

    I used to work for them back in the 80s. They were a fine bank back then. After I left (late 80s), the CEO retired, and a few years later they were sold to some slimeball outfit from the east. That is when the fuckery started. And continues.

    • Non-Threatening Ron

      Damned coastal elites!

    • Whachovia First Union et al. The same shit with newer and newer names. Think it was during the early 2000s or so they “bought out” other outfits by being bought out by them

  • mardam422

    “So the Navajo are suing Wells Fargo for $50 million….”
    Add a zero and we’ll talk.

  • AnnieGetYerFun

    I initially signed up with Wells Fargo not because I thought they were OK, but because they offered a more sophisticated business banking set-up than my credit union (my credit union had somehow put together a mobile-banking app that could be tied to ONLY one account, so I couldn’t sign into my business banking account on my phone; and no, you couldn’t log into both business and personal banking under the same user name).

    But I dissolved my business, and now I am going back to the credit union. And I’m going to send a good chunk of my next paycheck to tribal organizations, because I am SO SICK OF THIS SHIT.

  • Courser_Resistance

    Retail banking can die in a fucking fire.

  • Carpe Vagenda

    Funny thing. Matt “My Wells Fargo Executive Daddy Paid for my Purity” Stoller assured me on twitter that Obama’s speeches were the biggest evil ever.

    • Non-Threatening Ron

      I guess he’d know.

  • Resistance Fighter Callyson

    SO glad I pulled my money the fuck out of there and went to a credit union FFS…

    https://uploads.disquscdn.com/images/ebc785a0846534ac05b2516b8aee320fbe9450fdfafa51ac5de6839a41dac19d.jpg

  • Manders

    They run my 401K. I fervently wish they did not. Fuckers.

  • theblackdog

    What’s even sicker about this is because they’re in rural areas, options are extremely limited if they want to do anything involving “mainstream” banking. So it gave Wells Fargo even more of an opportunity to be predatory.

    Chinle, Kayenta, and Shiprock have a Wells Fargo only.

    Window Rock and Tuba City have a Wells Fargo and a Bank of America (not much better) available.

    Before you jump in with suggesting a credit union, none of them have a credit union in town. Only Shiprock even listed credit unions, and the closest one is a half-hour drive up the highway. It’s inconvenient at best but likely a no-go if you don’t have regular access to a car.

  • Rebel Scum with permit

    I have RWNJ friends of friends who decided to take a great pension from a major medical foundation (that isn’t going anywhere) and trade it in for an annuity- with Wells Fargo. SMDH. Not sure if they bought those special seeds or potato soup, too.
    It’s been about 6 months and the first check has yet to show up.

  • Gorillionaire

    Thanks to my mother’s lineage I have regular contact and a newsletter from Native America, and wouldn’t you know it, there is at least a small very angry and defensive wingnut contingent there. Hard to tell if they are just trollbots or what, but already one or two are trying to pin this charade on Obama.

  • nightmoth

    I cancelled my bank account with WF but I still have a WF stockbroker handling the assets I inherited from my parents. Any suggestions for switching that?

    • Unmutual Tetsu Kaba

      Edward Jones has been good for us and our Edward Jones rep is a liberal. Your mileage may vary.

      • nightmoth

        Thank you.

    • Grumpy Old Man

      Or you could have Vanguard move it into their low fee accounts. What I do is take income from such an inheritance and offset my paycheck into 401k/403b/TSP and IRAs. YMMV

      • nightmoth

        Thanks–clever!

  • So the Navajo are suing Wells Fargo for $50 million, which seems kind of low to us really.

    Outta curiosity, how much is Wells Fargo invested into the pipeline?

  • Dianna Deem

    I belong to a local credit union. More people should at least look in to joining a credit union, if one (or more) is an option.

  • Margaret Lamont

    Guess Wells Fargo didn’t learn from the last two embarrassing fiascos.
    Shady business practices = major profit loss from justified law suits.
    Mebbe the Wells Fargo upper echelons who demanded high pressure sales quotas from it’s underlings will take the fall. Or mebbe they’ll claim that it was their underlings unsanctioned actions that were the cause, in a classic pass-the-buck gambit, which will undoubtedly fail under scrutiny.

  • JCfromNC

    I inherited a share of my parents’ IRA that was in Wells Fargo. I couldn’t get it away from them fast enough. Although, to be fair, one of the employee’s used bank fuckery in my favor to save me a $150 account closing fee by retaining $50 from the account, and then closing it completely a month later where the small balance meant the fee wouldn’t apply.

    • javadavis

      Upvote for nameless employee fuckery in support of good customer service.

  • Grumpy Old Man

    This similar to what Berkshire Hathaway does with their trailer business – most of BH income comes from the fucking of Native Americans through their weird real estate/trailer park scams.

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