Wells Fargo. How in the world do they stay in business? Anyway, now they’ve been fined for screwing Vet’s.
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Wells Fargo Fined for Overcharging Vets Now
admin - Monday August 7, 2017
Well done, gentlemen. Well done.
all that money should go to the vets – ALL 108 MILLION should go to the vets!!! I am writing my Congressman and State Senators…this is hogwash – Great show you two…Great show.
7 years spent drinking the Kool-aide at WFHM.
The WF way:
— Reports for everything from customer loyalty scores, bank cross sell, sales calls, file quality, etc…. You name it, it has a tracked metric.
— Reports are mostly fluff. The LO’s coach borrowers to achieve the high loyalty scores to achieve bonus. The bank cross sell was all BS, and the weekly sales calls entered were 95% fake. The managers beg their sales team to move the dial anyway possible to avoid the fury on their next call. Yet, these reports drive the company and their culture.
— Daily conference calls for mid-management to beat them into working teams harder and a “whatever” it takes mentality. The Branch Managers get to discuss these reports on the numerous conf calls knowing these “success” stories never happened.
They just don’t get it at the top of this organization. It’s based on fear and reporting metrics that aren’t real. The numbers speak for themselves. The best LO’s have left or are leaving. The few that stick it out either have a “special” manager who protects them from the insanity or ready to retire soon and not worth it.
The training and education to help a new LO get started was valuable, but not nearly as valuable as getting out and leaving all that stress and unhappiness. Life it too short with so many fantastic companies in this business that get it. Great message today, I hope the WFHM LO’s watching this listen. It’s never been a better time.
One of the best shows ever. I am thinking 60 Minutes needs to do an expose.
Poor American Airlines called called out for United’s terrible reputation in your video. Pretty sure I’d fly United Airlines before banking with Wells Fargo.
Is Wells Fargo the real story here or just the tip of the iceberg? It seems to me that the regulatory agencies who keep missing/ignoring these violations until WF self-reports them share some of the blame. How do they stay in business?