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Wells Fargo Hit with $1B in Fines

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Re: Wells Fargo Hit with $1B in Fines

#181

Post by dumbfounder »

djschnei wrote: post #140
Analemma_ wrote: post #124

Earlier quoted context omitted.

It is: it's called "renouncing your citizenship and moving to Somalia". Go ahead! Oh, you meant to say that you want to be able to object to taxation but still freeload on all the benefits. Sorry, no.

I object to most of the roughly 50% of my income that is taken from me and can't say I've ever been called a freeloader... That's an interesting point of view you have there; "either don't be a US citizen or never complain about tax policy".

"Conscientious objection" to taxes means you wouldn't pay taxes, it doesn't mean you just complain about it. You can't do that and stay a US Citizen and not go to jail.

Re: Wells Fargo Hit with $1B in Fines

#183

Post by Clubber »

manishsharan wrote: post #135
heurist wrote: post #38

Earlier quoted context omitted.

It's definitely an industry ripe for rebirth. For instance, I should be able to partition my money into several lightweight accounts - one for groceries, one for home expenses, investment, etc - and automatically have fractions of my deposits sent to those accounts so my budgeting and money management are handled without any effort on my part. I should have lightweight cards available for each of those accounts with…

I work for a large bank and can offer a tip. When you find yourself in this situation -- please create an incident report by lodging a complaint with the branch manager or online . Tweet if you must : your goal is to make sure that an incident shows up in the CRM. Branch managers bonus is tied to customer satisfaction parameters. This will not make you situation more bearable but it will force the branch to be more r…

Thanks for the tip.

Re: Wells Fargo Hit with $1B in Fines

#184

Post by dredmorbius »

gascan wrote: post #95
Someone1234 wrote: post #77

Earlier quoted context omitted.

Does that require giving them your banking online login details?

If you're concerned about that, you can always go with desktop software. Quicken will do "virtual accounts".

Or Free Software alternatives such as GNUcash.

LWN have a current "Grumpy Editor" series article on Beancount:

https://lwn.net/Articles/751874/

And an older one from 2009:

https://lwn.net/Articles/314577/

Re: Wells Fargo Hit with $1B in Fines

#185

Post by frereubu »

KPLSD wrote: post #169
heurist wrote: post #38

Earlier quoted context omitted.

It's definitely an industry ripe for rebirth. For instance, I should be able to partition my money into several lightweight accounts - one for groceries, one for home expenses, investment, etc - and automatically have fractions of my deposits sent to those accounts so my budgeting and money management are handled without any effort on my part. I should have lightweight cards available for each of those accounts with…

The budgeting part of what you're describing is basically YNAB. https://app.youneedabudget.com/ It's a set of virtual buckets for allocating what money you currently have. It's not free but it's great because when one bucket's empty, it forces you to choose where else that money is going to come from. Like, "OK you blew threw the beer money, dum dum. Do you want to steal from your vacation fund or the new computer fu…

I'm a YNAB user in the UK, where auto-import isn't really practicable because banks refuse to guarantee you against fraud if you give our your online banking details to anyone else, including YNAB. That should change this year because they're being forced to allow customers to use that data: https://www.openbanking.org.uk/home/what-is-open-banking/ However, I've actually found it very useful to spend time manually entering my transactions because it's given me a much keener understanding of my finances. Having said that, I've got as much out of that as I'm going to now so I'm looking forward to being able to do auto-import.

Re: Wells Fargo Hit with $1B in Fines

#186

Post by kylehotchkiss »

theossuary wrote: post #177
heurist wrote: post #38

Earlier quoted context omitted.

It's definitely an industry ripe for rebirth. For instance, I should be able to partition my money into several lightweight accounts - one for groceries, one for home expenses, investment, etc - and automatically have fractions of my deposits sent to those accounts so my budgeting and money management are handled without any effort on my part. I should have lightweight cards available for each of those accounts with…

I can actually do this with Simple. I have been disappointed with their velocity of new features, but they do that really well with their "goals", I really like the feature.

I was hopeful simple would have become this magic solution but they just released the concept of savings funds that transactions won't pull from after waiting seemingly 7 years for it. Along with their strange "no long term travel" policy, I'd wouldn't recommend their service for anybody outside out college.

Re: Wells Fargo Hit with $1B in Fines

#187

Post by dsr_ »

aeorgnoieang wrote: post #144
black6 wrote: post #48

Earlier quoted context omitted.

The repeal of the Glass-Steagall legislation (Banking Act of 1933) in 1999 deregulated and allowed banks to act as investment, commercial, and retail at will. That deregulation doomed us to the financial crisis a decade later and the "too-big-to-fail" atrocity that ensued.

That's not supported by the evidence from what I've read.

You can find lots of references from the time of the repeal saying "this is a bad idea because this act was designed to prevent banks screwing around in the way that caused the Great Depression, and the inevitable result of repealing it will be to cause a similar problem".

Then you can look at the CDO crisis less than ten years later and talk about correlation not being causation until you're blue in the face.

Here's another prediction: the destruction of the CFSB will lead to anti-consumer behavior at large banks.

Re: Wells Fargo Hit with $1B in Fines

#189

Post by khana »

aphextron wrote: post #4

Something has happened to big banks along the way, where they no longer actually provide banking services to their customers. When I walk into a Wells Fargo branch now and sit down with a "banker" to take care of my accounts, it consists of sitting next to them while they call 1-800-WELLSFARGO for me and talk to a call center. There simply is no service anymore. I walked into my local branch to open up an IRA last we…

Amen.

Re: Wells Fargo Hit with $1B in Fines

#190

Post by KPLSD »

frereubu wrote: post #185
KPLSD wrote: post #169

Earlier quoted context omitted.

The budgeting part of what you're describing is basically YNAB. https://app.youneedabudget.com/ It's a set of virtual buckets for allocating what money you currently have. It's not free but it's great because when one bucket's empty, it forces you to choose where else that money is going to come from. Like, "OK you blew threw the beer money, dum dum. Do you want to steal from your vacation fund or the new computer fu…

I'm a YNAB user in the UK, where auto-import isn't really practicable because banks refuse to guarantee you against fraud if you give our your online banking details to anyone else, including YNAB. That should change this year because they're being forced to allow customers to use that data: https://www.openbanking.org.uk/home/what-is-open-banking/ However, I've actually found it very useful to spend time manually en…

I do auto-import in the US and it's pretty nice. I still manually enter in things at the end of the month (otherwise they might not clear for a few days and eat out of the next month's budget). But it does a good job of recognizing when it auto-imports a transaction you already entered manually so you don't get duplicates.
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