Just read beyond the headlines and realized that some of the customer abuses for which Wells is paying Billions of $ in fines took place in to 2022, three years under Charlie’s so-called leadership.
Can’t help but wonder what kind of salary increase our colluding Board of Directors will give him this year….
No, it's NOT the same work. In person work facilitates off-record conversation that leads to compliance failures. With WFH everything is monitored, email, teams, calls, everything. So sure, you COULD tell your team to do a bunch of illegal/unethical stuff, but you're only screwing yourself. WFH maximizes accountability and ends deniability. You think during the account scandals that branch managers sent the tellers emails telling them to open fake accounts to get their numbers? Maybe a few id--ts, but the vast majority would be in person comm.
People should look at IT as well. SVB and his cheerleaders. Maybe they need to admit they do t have a real plan and no amount of globe trotting, RTO, boomerangs, social posting of suck ups, will move the needle . But maybe flushing out Consumer Technology from the top on down would be a good start.
@1wla+1knC6alk Give it a rest already. It’s the same work whether it’s done from your home office or the WF office so don’t thing WFH is the magical solution.
If you don’t want to go in the office, then don’t, but for goodness sake stop whining about it no matter what the damn topic is.
Everything that was done wrong and resulted in this huge fine/settlement was the direct result of work done in-person / in-office. But hey, we're better together amiright?
Post ID: @1zfe+1knC6alk
Can we put you in charge please? Such logic is desperately needed in the C-suite
Post ID: @1hsd+1knC6alk
I agree with you on most points.
Just want to clarify that I think the right BOD with the right CEO can clean this place up if they are honest about what needs to take place and have their priorities straight. You can’t right all the many wrongs and cut costs at the same time. Get the ship’s direction corrected and then start cutting costs.
Charlie and this BOD are just setting us up for ongoing failures through:
I’m not a Charlie fan but, I have to say, people come here from outside thinking they can clean it up. What they have absolutely no idea is how deep and widespread issues are. No one can even comprehend what a complete shitshow lies behind the doors here.
I’ve seen managers come from outside with a positive attitude, loads of ambition, great ideas and they are all taken down by the buzzsaw of this place, just a matter of how long it will take. Old tech, manual processes, tribal knowledge, no knowledge, prior consent order requirements, current consent order requirements, bad policies, changing policies, talent exodus, coasting workers, grifting workers, no company culture, bad company culture - you get the idea….
I have been saying this for years, and Liz Warren has saber rattled it as well, but this place is just too big to manage. Cut it up, sell it off and let some other place with their own systems and processes absorb the client bases. This ship is too far gone to raise.
Schart and his OC minions are here to suck as much money out of the company for themselves as they can until the golden parachutes open. Just like past regimes. The BOD is in on it with them too.
seriously?
these are settling matters that happened with the prior management
the wheels of regulators turn slowly.
Sometimes things like this drag on for 10 years or more before they are finally settled.
So considering prior management just dug us deeper into the p__p before CS got here - 3 years - not too shabby at all.
Same ole sh-t, different day.