In a statement following the settlement, Wells Fargo said, “Wells Fargo reached these agreements consistent with our commitment to customers and in the interest of putting this matter behind us. Wells Fargo is committed to putting our customers’ interests first 100% of the time, and we regret and take responsibility for any instances where customers may have received a product that they did not request.”
From this article: Wells Fargo Exec Who Headed Phony Accounts Unit Collected $125 Million
There are times when a simple person writing on a blog kind of thinks “what’s the use?!”
Wells Fargo intentionally cheated people. Certainly not every person at Wells Fargo was involved, not even in the department where this was so widespread, but it was plenty of people – lots of people. And how long did someone, or many ones, know of the practice that Wells Fargo has now admitted to and settled over, and said nothing?
Where was the person who said “this is not right! I will not be party to this!”? Where was the leader who said “we will never allow this in our bank?”
Why should any current or future customer have any trust in Wells Fargo, and believe this claim?:
“Wells Fargo is committed to putting our customers’ interests first 100% of the time.”
They did not do that time and time again in this practice. So, why should we believe that they will do so from now on?
Recently, Volkswagen, and now Wells Fargo, and we wonder who will be next. (And, we just know there are others who have not been caught, don’t we?)
Willful blindness: We are all starting to see it seemingly everywhere.