#wellsfargobank

I left this company a long time ago for a tech company, and remained a customer of this bank.

After a very lengthy, confusing, and almost incoherent call with a Wells Fargo employee recently regarding my investment accounts. I was left with more questions than I have answers. Not only could the individuals not assist me, It felt like they were following a script. No answers were provided, and My buy order was never placed. Just left a very sour taste in my mouth and led me to some other questions.

I hope this was a one off experience, But doubt that based on the employees I spoke with coinciding with the banks reputation Of being a habitual offender. It made me wonder who is looking at My personal information, specifically account activity, and info?

It was very difficult to understand these employees which makes me think they are not located in the states. it seemed each employee I spoke with had a different answer, even though I was asking the same question. Furthermore, if in fact, these employees I speak with are not located in the states I don’t feel comfortable with them reviewing my personal information, along with my investment account information.

It bothered me enough to where I had to do a little research and came across this site. let’s just say I am appalled, and conflicted at this company’s business practices or lack there of. Once I hung up, I could not help but wonder who is reading this information and how are they able to provide support if they are offshore?

It seems as if there is no risk or control framework in place that protects stateside customers. I felt very uncomfortable having to verify my information to someone from a Third World country where fraud is rampant, and supporters of Russia.

After reading the comments on this site. I am convinced that customers data is visible too all employees outside of the USA? After reviewing the comments on this site. It sure seems that way. I mean, how else would the employees I spoke with verify my information? Does this company not have any sort of information barriers or data governance policies in place? Another big concern of mine is, why am I speaking with someone located out of the states, supports Russia, and barely speaks English yet has a name like chuck.

I find it shocking, unethical, and risking customers information here in the states To save on labor costs when those savings will be paid to regulatory violations, if this bank is truly not protecting their customer data.

The sentiment alone on this site paints a picture of how risky it is. It really seems like there are disgruntled, employees, offshore, and stateside, and nobody knows what they are talking about.

I have been banking with this company for years But after my most recent call with this company, I find it too risky to continue doing business with them. I was never provided an answer to any questions, my buy order was never placed, and now it seems Offshore employees who support Russia’s war effort had full access to my information.

This is completely unacceptable! As a customer, and stakeholder, I am appalled! This has to be the most riskiest operating model I have ever Come across. I am not comfortable with my information, going offshore, especially information related to my investment and retirement accounts.

This experience coinciding with the recent report of the stress test, I Will be moving my money to a more secure institution. It has been many years since I had worked at this company But this is just risky, unethical, and morally wrong. When I hang up the phone with someone who has my sensitive information and access to my accounts, it made me lose sleep.

My next phone call will be me instructing them to move my money to another account at another company.

It’s a shame that this company has sacrificed talent for cheap labor. Let’s not forget they are also supporting an economy that is not the United States. It’s easy enough for me to take my business elsewhere. For a company that is trying to rebuild its reputation yet continues to be a habitual offender on regulatory matters, I guess my risk appetite is not as big as theirs. or they are just stupid! Spread the word, I know I will. Where the heck are the regulators?

#SEC
#WFC
#Ethics
#FutureEnron
#2025
#2024
#REGULATORS!
#Loopholes
#Anti-American
#Investing
#Banking
#CFPB
#OCC
#WellsFargoBank

So, it took me 5 minutes to lay out a simple, transparent, and long-term strategy that would have hypothetically saved $6+ billion since 2019-2024. This topic is what the privileged 1% refuse to talk about. Who wouldn’t want a transparent, effective, Cheap CEO that effectively mitigates risk, and provides a simple strategy(which is more than what is currently being communicated today). That’ll be $29 Million Dollar’s”

“Hypothetically, as a virtual CEO of Wells fargo, what are some of the things that you would do or done to save costs since 2019 based on doing a history trend analysis and “Trending Sentiment Analysis? Please provide a hypothetical answer.

AI CEO plan
“As a virtual CEO of Wells Fargo, hypothetically focusing on cost-saving strategies, I would consider implementing several measures:

1. Enhance Digital Transformation: Accelerating the shift to digital banking can significantly reduce operational costs. This includes investing in AI and machine learning for customer service, operations, automating routine transactions, and enhancing online banking platforms. A focus on digital channels can reduce the need for physical branches, leading to savings in real estate and, non-customer facing roles are used to support across the business, reduce senior and unnecessary senior leadership which tend to lead to inflated personnel costs.
2. Branch Network Optimization: Review the branch network and consider consolidating branches that are underperforming or in close proximity to each other. This strategy can streamline operations and focus resources on high-performing locations.
3. Workforce Management: Implementing more flexible work arrangements, such as remote or hybrid work models, can reduce overhead costs. This could also involve a strategic review of staffing levels and roles, aligning them more closely with the bank’s operational needs.
4. Invest and Up skill existing employees : Invest & up-skill all employees and senior leadership. Form strategic partnerships, especially in technology for all employees to utilize and increase their efficiency.
5. Process Optimization: Streamlining internal processes through Lean management techniques or similar methodologies can increase efficiency and reduce costs. This includes simplifying workflows, eliminating redundant processes, and improving supply chain management.
6. Risk Management Improvement: Strengthening risk management and compliance can prevent costly fines and legal issues, as seen in recent years. This involves investing in better compliance training, enhancing internal controls, and adopting predictive analytics for risk assessment.
7. Sustainable Practices: Implementing energy-efficient practices in physical locations and investing in sustainable technologies can lead to long-term cost savings. This also includes reviewing and optimizing travel policies and operational practices for environmental and cost efficiency.
8. Review and Renegotiate Vendor Contracts: Regularly reviewing contracts with third-party vendors and suppliers to ensure competitive pricing and terms can result in significant savings.

Each of these strategies should be carefully evaluated for its potential impact not only on costs but also on customer service quality, employee morale, regulatory compliance, and the bank’s long-term strategic goals.

Based on historical trend analysis with a focus on the past “Five Years” varies. Hypothetically, it would translate to over $126.7 million dollars in savings should the current CEO be replaced by an AI Virtual CEO being utilized for the company CEO role in 2019 beginning in 2019

Hypothetically, The most probable total net cost savings average $5.7 Billion dollars from 2019 through YTD. This analysis includes meeting and completing all existing regulatory orders by due dates and the roll-out of the “AI Virtual CEO. One of the most overlooked aspects of a AI Virtual CEO is the AI CEO becomes more knowledgeable and is proactive all the time. (last refresh on 01/18/2024).“

Time for the off-shorer to become the offshoree muahaha

#WFC
#WellsFargo
#AI
#WellsFargoAI
#Fargo
#CEO
#Inequality
#AutomateTheC-Suite
#WellsFargoBank
#TheTruthHurts

For those impacted by October layoffs. Tell’em why you mad! And details on layoff please.

Job Location:
YOE(years of experience):
LOB:
FTE/remote/contractor:
Rant(optional) (tell them why you mad!):

Don’t provide any information that could identify yourself please.

IGNORE ALL TROLLS THAT SAY A LAYOFF EVENT IS NOT HAPPENING. It is happening. Sorry to all those impacted.

NOTHING BUT THE FACTS!

#WFC
#WELLSFARGOBANK
#Banking
#Layoffs
#wellsfargo

Layoffs on 8/8, 8/15, and 8/22..

Now for my rant! What is this mythological “Area Differential Pay”? And why do cities south of NYC Get Shafted?

Is the policy just a myth aka phased out? The latest economic data for over 3+ years shows how the cost of living has increased significantly (10%-25% since 2019/2020 Most employees who are in the “HUB City's” are far far overdue!

The details are in the data. No wonder they are outsourcing HR. Area differentials should have been updated….. Oh why, oh why do we allow these candy b-ms to use us troops as cannon fodder.

We have lots of power in numbers. Why is everyone allowing this nonsense? Maybe someone should take a look at the policy on this. Everyone is getting hosed. There is no reason why a Hub city should be paying 4 or even a 3 in area differential pay to employees. Hubs city’s should be no less than a “2”!

Meanwhile the Ivory Tower yokels enjoy their “0” area differential (highest paying rating). The risks senior leaders are creating is nutts! No wonder Charles has insulated himself with 90 new executive roles. Seems like he is getting ready for the large amount of info that is going to come to light.

“The path to the righteous man” is not working for charles in charge! He has you insulators primed and ready to be thrown under the bus that Charles is driving.

Inequality at it’s finest!
#WellsFargo
#Inequality
#WellsFargoProblems
#WFC
#WellsFargoBank

Shareholders should be so PO’d that the company ia doing so poorly. The BOD keeps portraying a successful CEO, yet an asset cap remains in place 5 years later(Meaning we cant grow!) and we continue to incur multi-billion dollar fines and embarrassing lawsuits. Yet they increase the captains base salary by a few million(when he publicly stated he would not accept a raise this year).

Shareholders should seriously call a vote of no confidence (IMO). This so called “multi-year effort” is a sham! guess what senile BOD, it has been almost 5 years since your golden boy was hired! What has been achieved? And by achieved, I mean when has the bank correctly remediated an order without paying billions in fines.

I am sorry to those who lost there jobs. You troops know the truth. Fact is, we keep losing real talent, and important mentors due to the current practices and toxicness caused by this CEO. Who just hired a bunch of people so he can insulate himself in my opinion.

Someone Fire this guy. The company is being run in a short sighted manner. BOD, DO YOUR JOBS! The stagecoach is out of control and the captain clearly cant save it. He has had hod histime, and plenty of compensation to fix the issues. The asset cap should have been lifted by now if this guy was delivering. He is not!

He is Mr. Shortsighted. Wells Fargo’s captain (CEO) reminds me of the id--t cruise ship captain who brought the cruise ship to close to the coast for a closer look. Well guess what, he crashed so badly, herolled the ship over. Then he was already in the lifeboat before the “abandon ship order was given”. Took years to cleanup the mess. Wells guess what, Wells Fargo is “already at the coast people”. The short sightedness by Wells Fargo’s are resulting in the same due to incompetence. Demand action, and pull back before it is too late!

#WFC
#WELLSFARGO
#WELLSFARGOBANK
#THEFACTS
#WFPROBLEMS
#RICHGETRICHER
#DOTHERIGHTTHING
#INEQUALITY
#WFCSHAM