to sink this once great ship!
It’s time to re-evaluate and get back to basics to preserve 100 years of tradition before USAA becomes just another (extinct) Blockbuster company.
If you think Fortune 500 list is not sufficient yardstick, just look at the number of once great companies who’s no longer in existence.
I’m no fan of Wayne, and I hope we get an email this December with the subject line “CEO Transition.” But these issues with the OCC started before he took the helm. Just so happened that it all hit the fan during his reign. Wayne has done himself no favors with his decisions, hiring failed WF executives, those same executives who had a major part in them being fined near $7billion from 2020 until now. Employee morale is in the toilet, backed up with all the bodily waste that keeps pouring in. And his pride will not let him take the loss on RTO, he just keeps doubling down on it.
Yeah, that whole stupidity of we’re a technology company! Meanwhile we have all these legacy systems
I can’t stand Wayne and his EC minions, but I am in agreement that the problems started before him. Previous chairman’s of the board (flag officers) had their hands in this mess. They were warned years ago by former Bank EVP’s that big bank rules were coming, but we spent the money on cr-p like building out the Phoenix office, the Big Red marketing campaigns, hush money (aka golden parachutes) to high level execs who screwed up, and trying pass ourselves off as a technology company. Billions of dollars wasted over the last 10-12 years and for what? That’s okay. We got a nice 100 year birthday party and a nice book.
There's plenty of ways to waste other people's money, labor and intelligence.
Banking is one way.
Military is another good one.
I am not a Wayne fan but the problems started way before him. He definitely doesn’t follow the core values with all the lies but this ship was falling apart before he took helm. He wasn’t CEO when we got hit with major consent orders.
Meh, Same thing happened to State Farm. Insurance company thinks it can compete as a bank, gets slapped by fines and regulations. Yeah they weren't ready for it and the only money they are making on the bank side is the customers money they are using for high risk investments. Could be another silicon valley bank situation here. They should've just stuck to insurance but got too greedy as most companies do.