President Donald Trump commended insurance companies for their response to the January 2025 Los Angeles wildfires, while criticizing banks, particularly Wells Fargo & Co. Trump took to Truth Social on Thursday to praise insurance companies for “stepping up to the plate” and making “big progress” in treating homeowners affected by the disaster. However, he criticized banks for their inadequate response. He pledged to investigate their actions and urged them to treat the victims fairly. “Wells Fargo, in particular, has been very difficult to deal with,” wrote Trump.
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LMAO Chainsaw does NOT want unfavorable attention from the Big Orange. Would be funny to see trump go into full toddler tantrum mode on WF. i'll grab my popcorn.
How in the he-l can insurance companies be commended? They flat out canceled all kinds of people earlier in the year so these people had some ridiculous bogus insurance through the state. What an id--t.
What did the banks do or not do? Not very clear? Loan modifications or something?
I thought it was mainly a permitting problem with the city or county. I'm sure banks are more than willing to fund loans unless insurance won't cover. Then why would any business provide a loan that's completely unsecured in an event of total loss?
WF reputation preceeds them. Maybe Trump isn't the most popular fella but who else in power in the last 15 years even acknowledged it? Who knows, it could open so many cans of worms that not even WF lawyers would be able to close it, by threatening lawsuits or paying people off to keep quiet. Then maybe WF will topple like Jenga blocks while Mr C. cries out " my precious!"
@ak Bad Press = Bad sales/business = Your ticket to the unemployment office.
Explain how this has anything to do with layoffs?
Trump is a clown. He has fintech in his ear and hates banks for cutting him off.
The insurance companies have been a huge problem for those affected by wildfires because they have been extremely slow to pay out.