Do you bank with Wells Fargo?

feelosofer

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I don't like to use those large banks, I use a smaller local bank (Investor's Bank) in North Jersey, I been using them for like 25 years. Very happy and I like their service.
 

theworldismine13

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shopping around for the best deal doesn't mean you won't run into 2 or 3 wells fargo type schemes along the way
maybe im slow or you are slow, what i am saying is that YOU WILL run into wells fargo type schemes, thats why you need to shop around

maybe you are confused about what was happening, the minority borrowers were being led to independent brokers and they took the deal offered instead of shopping around

my advice is to NOT take any deal until you shopped around, my point is that NOT banking at wells fargo would NOT have stopped it, in this particular case if they people had banked at wells fargo they would not have dealt with the independent broker in the first place, and if its widespread, NOT banking at wells fargo would not have solved it either since the other banks are doing it too


what if, wells fargo's scheme was actually the best deal....how does that not impact society as a whole

thats too hypothetical, if wells fargo was the best deal and if you assume the whole industry is racist then that means wells fargo would be the least racist, but thats a silly hypothetical anyways, there is always a better deal out there, its just matter of how hard you want to look for it

the story and settlement shows that 1. minorities do get singled out by corporations for simply being minorities and 2. that unless you have the backing of the judicial department and city of baltimore, you too could be screwed

yeah but it doesnt necessarily follow that you shouldn't bank at wells fargo

the problem with what you are saying is that instead of giving advice on how to be a savvy consumer/shopper you are giving advice on how to be a scared negro, if anything this settlement would make it that they treat you extra nice at wells fargo

again, for the ppl that think "this won't happen to me"....what if its happening to you right now??? regardless of how much you like your current loan contract, what if you could be getting an even better deal??? wouldn't you want the justice department to lookin into that for you

c'mon breh

what exactly makes you think that im against the justice dept looking into this?
 

tru_m.a.c

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maybe im slow or you are slow, what i am saying is that YOU WILL run into wells fargo type schemes, thats why you need to shop around

So lets just extrapolate on this point, that its a foregone conclusion that you will run into a wells fargo type scheme.

Again, the scheme deals with 2 parts: the first being a consumer, the second being black.

Your argument only deals with windfall of being a consumer (i.e just search for a better deal). <-- which I agree with, when all else is constant

My argument wrt the justice department, deals with the windfall of being black (i.e: a better deal never exist when you go searching because you're black).

You argue, "they took the deal offered instead of shopping around." And then later say, "You are giving advice on how to be a scared negro." Yet ignoring the fact that being a negro was the only reason they were steered to these loans in the first place. I'm not arguing whether or not they should/shouldn't have signed a bad contract (that's irrelevant). I'm arguing that Wells Fargo's compliance department should never have allowed it to happen in the first place. Negligence on behalf of the bank is the reason that the action was allowed to take place in the marketplace by the independent company.

To your point about: "What exactly makes you think that im against the justice dept looking into this?" I see your post. I know you're not against it. You're just to smart for the situation and placing your individual self in the shoes of the baltimore citizens.

People "not banking" at Wells Fargo forces them to take an "active" role in this issue. Essentially that is what the quality control/compliance department is supposed to do. But you know, corporate responsibility is only "active" when its an initiative to drive profits and maintain your market percentage.
 

tru_m.a.c

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In addition, I'm not saying you're not RIGHT about prevention and knowledge

But what you're focusing on, doesn't stop the issue. The solution comes from 2 angles.

An educated base....prevents the issue
Accountability and punishment....stops the issue

they're not going to stop giving black minorities bad loans cause they're smart, they're going to stop doing it cause its bad for business
 

theworldismine13

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So lets just extrapolate on this point, that its a foregone conclusion that you will run into a wells fargo type scheme.

Again, the scheme deals with 2 parts: the first being a consumer, the second being black.

Your argument only deals with windfall of being a consumer (i.e just search for a better deal). <-- which I agree with, when all else is constant

My argument wrt the justice department, deals with the windfall of being black (i.e: a better deal never exist when you go searching because you're black).

You argue, "they took the deal offered instead of shopping around." And then later say, "You are giving advice on how to be a scared negro." Yet ignoring the fact that being a negro was the only reason they were steered to these loans in the first place. I'm not arguing whether or not they should/shouldn't have signed a bad contract (that's irrelevant). I'm arguing that Wells Fargo's compliance department should never have allowed it to happen in the first place. Negligence on behalf of the bank is the reason that the action was allowed to take place in the marketplace by the independent company.

To your point about: "What exactly makes you think that im against the justice dept looking into this?" I see your post. I know you're not against it. You're just to smart for the situation and placing your individual self in the shoes of the baltimore citizens.

People "not banking" at Wells Fargo forces them to take an "active" role in this issue. Essentially that is what the quality control/compliance department is supposed to do. But you know, corporate responsibility is only "active" when its an initiative to drive profits and maintain your market percentage.

this story and this specific story about wells fargo came out a long time ago, that was the time to be boycotting wells fargo, your advice would have made sense then, but with this settlement i think its pretty much over, its too late to get your naacp on

just stick to business, its bad business advice to say that negroes should avoid banking with one of the biggest banks in the country over something that has been settled
 

tru_m.a.c

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this story and this specific story about wells fargo came out a long time ago, that was the time to be boycotting wells fargo, your advice would have made sense then, but with this settlement i think its pretty much over, its too late to get your naacp on

just stick to business, its bad business advice to say that negros should avoid banking with one of the biggest banks in the country over something that has been settled

So because they settled with baltimore, the issue isn't taking place anywhere else?

You're seriously wildin right now for ignoring the racial undertone of this issue on a national level

I'm not getting my naacp on. I'm talking as a citizen who can easily flip this situation into multiple areas of concern.

Edit: And I'm not being emotional or anything. But hey, if the issue "could" affect me, I'd want my state government and the banks to prove to me that its not happening in my area.
 

theworldismine13

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So because they settled with baltimore, the issue isn't taking place anywhere else?

You're seriously wildin right now for ignoring the racial undertone of this issue on a national level

I'm not getting my naacp on. I'm talking as a citizen who can easily flip this situation into multiple areas of concern.

Edit: And I'm not being emotional or anything. But hey, if the issue "could" affect me, I'd want my state government and the banks to prove to me that its not happening in my area.

if you are scared of this happening to you, then make sure and shop around, its not that hard

and the settlement is not just for baltimore its for other metro areas

a couple of years ago wells fargo actually profiled me in a good way, they sent me a letter saying they would give me $200 if i opened up a bank account, apparently they thought i was rich, a banker dude stayed late so i can come in do the paperwork and it was all chummy and friendly, it was weird, like some VIP sh*t, but i waited a few months for the 200 and then closed the account

point being, its just business
 

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this story and this specific story about wells fargo came out a long time ago, that was the time to be boycotting wells fargo, your advice would have made sense then, but with this settlement i think its pretty much over, its too late to get your naacp on

just stick to business, its bad business advice to say that negroes should avoid banking with one of the biggest banks in the country over something that has been settled

You're lost
 

theworldismine13

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twism, stop embarrassing yourself please


thanks, hl

im actually embarrassed for yall, yall tryna create a bunch of scared negroes im simply giving people advice on how to be savvy consumers

this settlement is irrelevant unless you were one of the victims, if you are looking for a loan people should shop around and not accept any offer that banks or brokers throw your way, thats the solution to this problem
 
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