Summary: California, Illinois, Philadelphia, Seattle, Chicago, New York City and other municipalities suspended or ceased business with Wells Fargo after their many scandals were exposed. A 2017 survey of financial professionals revealed that not only was Wells Fargo the the...
On April 25th, NACA’s founder and president Bruce Marks and NACA members attended the Wells Fargo Shareholder Meeting. During this meeting, Marks interrupted the proceedings to call out Wells Fargo’s shameful practices.
No matter what the product, Wells Fargo scams its customers:
Don’t be a victim of Wells Fargo's scandals and predatory practices
Existing Customers:Let NACA Help You Move Your Business
Prospective Customers:Tell Wells You Refuse To Do Business
Wells Fargo never shed Norwest's predatory practices
The well-known and trusted Wells Fargo of old is no more. When Norwest acquired Wells Fargo in 1998 they took the better-known and better-trusted Wells Fargo name but injected the Norwest sales culture.
After the 1998 acquisition, Norwest CEO Dick Kovacevich and his right-hand executive (and now disgraced former CEO) John Stumpf took over the bank, and imposed a new emphasis on cross-selling and accelerated sales goals. It was this shift that led to the numerous scandals and corruption seen at the bank ever since, and why Wells Fargo is today a shell of its former self.
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