“Wells Fraudgo” – GCR/RV Intel SITREP – Sunday – September 3, 2017

“Wells Fraudgo” – GCR/RV Intel SITREP – Sunday – September 3, 2017

Received via email for publication at 11:11 AM EDT. ~ Dinar Chronicles

It appears investment legend ​Warren Buffett might have brought a new plague ​up​on ​new ​Wells CEO Tim Sloan with his ​recent ​comment: “There’s never just one cockroach in the kitchen.”

And the following scandals all attached to Wells Fargo’s reputation since 2009 might explain why:​

Customer Accounts​

​Because Wells Fargo is the third-largest bank in the US, as such ​it committed crimes against the entire nation when it opened 3.5 million fake accounts from 2009 to 2016 — 70% more than the​ 2.1 million Wells Fargo had previously estimated.

Wells Fargo​ even admitted that 528,000 customers that supposedly signed up for online bill payment did so without their authorization, and will refund over $910,000 in fees to those customers.

This had explicit echoes of Wells Fargo’s previous massive scandal​, opening up to 2.1 million unauthorized credit-card, checking and savings accounts in branches across America from 2011 to 2015.

Such a public and mass scam led to the eventual resignation of CEO John Stump​f​, and the firing of more than 5,​300 employees, a $185 million federal fine and a settlement of a class-action lawsuit that will cost at least $142 million​.​

​Well Fargo’s ​corporate accounting firm, ​Price​ Waterhouse​ ​Coopers​, was also secretly told by former Chairmen of the Board Stephen Stranger not to report a​n additional​ seven-year period from 2002 to 2009, during which Wells admitted ​back ​in April​ 2017 it had ​also ​opened fake accounts​–creating the need for ​a new ​$32 million civil class-action settlement​, including the period ​​right ​after ​Wells purchased Wachovia Bank (2009​)​​.

By omitting t​his ​sizable ​time period, ​Wells Fargo was attempting to cut​ ​off ​full ​restitution ​for defrauded customers and preventing the true s​cope of the​ir​ fake-accounts scandal from being known.

However, improperly creating​ such​ accounts without customer consent​ was not only confirmed by former bank employees, who blamed the scandal on an internal high-pressure sales culture​, but ​openly ​encouraged and demanded by senior management despite internal ​staff ​complaints about the fraudulent sign up practices.

​​Auto Loans​

The New York Times​ reported​ last month

the paper had received​ internal documents show​ing ​​the San Francisco-based financial giant​ Wells Fargo​ Bank had​ charged more than 800,000 customers with ​fraudulent ​auto loans for ​GAP ​insurance they didn’t need or agree to purchase.

The resul​t was more than 270,000 ​auto loans ​became delinquent ​with more than 24,000 ​v​ehicles repossessed.
​ ​
Wells Fargo ​released a statement last month​ admitting​ that roughly 570,000 customers were ​​signed up for and billed for car insurance that they didn’t need or ​knew about. ​ ​Many couldn’t afford the extra costs and ​simply ​fell behind in their payments​ and this is why their c​ars were repossessed.

Wells Fargo ​was scheduled to ​refund $2.8 million to customers, in addition to the $3.3 million it already agreed to pay. ​That number ​has grown as high as $6.7 million ​all ​to be paid out​ as of August​ 2017 ​per the latest ​class action lawsuit.​

Mortgage Loans

​Wells Fargo secretely and manipulatively modified thousands of home loans to profit from unknowing customers by lowering their monthly mortgage payments, while at the same time increasing their loan term length (more months) as well as ​increasing their interest some as much as 40​%​.​

​And because change​s​ to a​ny​ payment plan for a person in bankruptcy is subject to approval by ​a​ court ​with all interested parties involved​, Wells Fargo​ knowingly put forth additional bankruptcy m​odi​fi​cations without client approval ​for ​a second time​ after assisting putting them into bankuptcy​, ​this ​according to ​several lawsuit​s brought against the bank.

Wells Fargo stood to profit as much as $1,600 from ​every ​government program​ they adjusted, no matter how many times they adjusted it​!

This is not the first time Wells Fargo has been accused of wrongdoing related to payment change notices on mortgages it filed with the bankruptcy courts.

​Under a settlement with the Justice Department ​back ​in November 2015, the bank agreed to pay $81.6 million to borrowers in bankruptcy whom it had failed to notify on time when their monthly payments shifted to reflect different ​settlement dates for ​increased real estate taxes or ​additional ​insurance costs.

​In that 2015 settlement​, Wells Fargo agreed to change its internal procedures to prevent future violation​, which at the time affected 68,000 homeowners.

Board of Directors​

The latest scandal almost certainly is behind ​an announcement that three veteran Wells Fargo board members are departing, including ​former Chairman Stephen Sanger.​ ​It strongly suggests a companywide cultural problem built on the idea that customers should be treated like profit centers.

​In Congressional hearings earlier in September of 2016, ​Senator Elizabeth Warren, a Massachusetts Democrat who is on the Senate Banking Committee, also reiterated her request that the Fed
​real government​ oust 12 of Wells Fargo’s 15 directors, saying they had violated their duties to oversee risk management at the bank in the period when the improprieties had taken place.

​And when former CEO John Stump​f​ openly lied to Congress, under oath, when he stated that the bank’s internal fraud issues were all “cleaned up,” and there were no further fraudulent practices engaged by Wells Fargo in that same time period. ​

Not only was he not imprisoned, he was given a $130 million severance package in his subsequent shamed departure from the bank.

Warren Buffet

Berkshire Hathaway, a Warren Buffet controlled investment house going back to 1962, is the largest owner of Wells Fargo stock.

Wells Fargo is the second largest owner of Berkshire Hathaway stock. Meaning, they’ve been in bed together long before this scandal ever started, and will be long after per his own words in the below interview:

http://money.cnn.com/2017/04/13/investing/warren-buffett-sells-wells-fargo/index.html

​So Warren it is true, there are many cockroaches in the Wells Fargo kitchen… of which you are the
​largest​ and most grotesque​.

God is with us

http://inteldinarchronicles.blogspot.ca/2017/09/wells-fraudgo-gcrrv-intel-sitrep-sunday.html

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This entry was posted in * FREEDOM FIGHTERS, * Ground Crew MESSAGES, - CABAL'S LATEST MOVES, - CRIMES Against Humanity, - Draconian Negative Leaders, - HIDDEN ♠ CONTROLLERS, - INSANE DICTATOR MOVES, BAD BANKSTER ♠ CRIMES, Bankster Mortgage Fraud, HUMANS in SLAVERY, MILITARY - WAR MOVES, POSITIVE vs NEGATIVE, RV GCR Currency Reset, UNJUST FRAUD CRIMES, UNJUST THEFT CRIMES, WARS EVIL COMPANIES, WARS ON CLASSES, WHAT IS HAPPENING ?, WORLD ♠ GANGSTERS. Bookmark the permalink.

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