I previously worked in the mortgage banking industry and know firsthand how corrupt and dishonest many bankers are. I followed the mortgage meltdown carefully and am trying to keep current on the recent Wells Fargo debacle.
Wells Fargo & Co. has agreed to boost its payout in a class-action settlement over unauthorized accounts to $142 million. It’s difficult to fathom how banks can absorb these kinds of penalties and remain solvent. In 2016, Stumpf, the former Chairman of the Board, made $21,000,000+ – I wonder how much they pay the tellers.
Do you remember the other Wells Fargo scandal? The one where Wells Fargo foreclosed on a Malibu home, while one of their top executives used the $12,000,000 beach home for her personal use. She threw lavish parties, while local Realtors claimed that the bank refused showings during this time. Read more here: