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Wells Fargo Hit with $1B in Fines

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Re: Wells Fargo Hit with $1B in Fines

#201

Post by arca_vorago »

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…

>These huge banks have simply become way too big, and it serves no one's interest but their own. They have zero incentive to provide actual customer service anymore. There needs to be a massive restructuring of our system to allow smaller banks to thrive and provide actual competition.

Thats not the plan though. Now that they have IMF'd almost the whole world, they have no one elses pie to take from... so they are turning inwards. In order to do this, they are murdering and executing [1](American Psycho reference, but lots of literal truth there too) their way to the top, but not just in banking... in all industries. (bayer-monsanto being a good example).

What we need is anti-trust/anti-monopoly laws to actually be enforced... oh wait... the same bankers that need regulating basically own congress and many more. I'll never forget looking up my podunk Texas congressmans public financing and wonder why so many NY banks were donating to him. Until we find a way to start fixing congress (the closest to the people of the 3 branches) this will just happen again and again.

[1]https://llwproductions.files.wordpress.com/2011/11/big-banks...

Personally, after hunting terrorists for the government in my youth, I've come to the conclusion that bankers are the real terrorists. Financial terrorists.

Re: Wells Fargo Hit with $1B in Fines

#202

Post by sjm-lbm »

minthelper wrote: post #191
djsumdog wrote: post #126

Earlier quoted context omitted.

I deleted all my Mint stuff years ago just because of the security concerns. If you mention the security concerns on Hackernews, a Mint employee typically replies with a link to the wikipedia page on their patented security model. Still, I'd rather not type all my bank passwords into an Intuit website. I like your concept of the multiple credit/card style budgeting. That makes a lot of sense. There are even some of t…

Hi djsumdog, We understand you have concerns about security. Here at Mint, we use a very strong proprietary cryptographic security model which guarantees the safety of your personal information. We'd love to discuss this more with you so if you reach out to us at https://help.mint.com/ we would love to make sure you're happy with our services. /KEB

Honestly, this is so tone deaf as to be a little amusing.

(though I'll admit the sibling's comment about satire is probably right)

Re: Wells Fargo Hit with $1B in Fines

#203

Post by existencebox »

mbritton72 wrote: post #180
manishsharan wrote: post #135

Earlier quoted context omitted.

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…

Don't direct people to bullshit bureaucratic snakeholes.

Even as someone who had abysmal interactions with mainstream banks when getting my mortgage, I don't think your response is charitable to the parent commentor, even if you don't think it's worth your time to provide feedback to a business entity, which is well within your rights.

If I as a dev for a large company see people online complaining about my product, I'd _probably_ tell them, in good faith, that if I had no direct touch to help, what channels they MIGHT be able to touch to have an impact, even if it's only post-factum.

What would you rather the business do? Have 0 receptivity to any channel of communication? Yeah, ticketing and support often sucks. But I see no reason to bite the hand that's trying to help you, both when they're going out of their way to try and give information that might move the needle, and when I'm hard pressed to give any more actionable advice. (at least for parallels within my space.)

I certainly would have liked to know I had _any_ recompense after BoA left me high and dry on some last minute mortgage detail and my agent went AWOL right before signing, even if it wasn't going to necessarily help my situation.

Re: Wells Fargo Hit with $1B in Fines

#204

Post by reaperducer »

toomanybeersies wrote: post #114
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…

If you move to New Zealand, several banks the ability to split paychecks into different accounts, with the option of having a bunch of cards if you wanted. What I would personally like is an extension to the EFTPOS standard so that I can get receipts with my transaction history. It would be great if instead of just saying I spend $50 at the supermarket, it gave me itemised receipts which I could then export.

> If you move to New Zealand, several banks the ability to split paychecks into different accounts

This is available in the United States, too. I've had the option with a couple of different employers over the years, at least back into the 90's. But it seems to be dependent on the the company's accounting/payroll people/service.

Re: Wells Fargo Hit with $1B in Fines

#205

Post by grajaganDev »

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…

First Republic is awesome - I know several other founders who use them for their business banking.

Re: Wells Fargo Hit with $1B in Fines

#206

Post by cm2187 »

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…

Replace "bank" by "silicon valley company" and you can pretty much make the same critics.

Re: Wells Fargo Hit with $1B in Fines

#207

Post by __jal »

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…

No.

The correct answer is to close your account and move to a bank that actually has an interest in providing customer service. (Credit unions are great.)

I have zero interest in some company's CRM, how they apportion money to employees, or anything else of that sort. If a company cannot get meaningful feedback about customers' reaction to their service, well, that sounds like they have a serious business problem to solve, and expecting me to fix it for free is, frankly, insulting and doomed to failure[1].

My rule in life with this sort of thing is simple. Don't do business with assholes.

[1] Get back to me when WF's CEO's bonus depends on customers going out of their way to provide feedback.

Re: Wells Fargo Hit with $1B in Fines

#208

Post by volandovengo »

I've interacted a lot with the larger banks and been flabbergasted at how they view the world.

Banks, big and small, regard the consumer operations of the bank as a cost center, which they should do as little as possible to maintain. In fact - I believe the only reason that they even have public facing consumer branches is largely to get access to capital as cheaply as possible. Every proposed improvement to the consumer experience is viewed in the light of "how is this going to make the bank more money." If a direct line from improving the customer experience to make more money can't be drawn, the bank won't do it.

Long gone are the days where banks provided a core function to the vast majority of society. They just exist to enrich themselves.

Re: Wells Fargo Hit with $1B in Fines

#210

Post by andrepd »

xxpor wrote: post #198
minthelper wrote: post #191

Earlier quoted context omitted.

Hi djsumdog, We understand you have concerns about security. Here at Mint, we use a very strong proprietary cryptographic security model which guarantees the safety of your personal information. We'd love to discuss this more with you so if you reach out to us at https://help.mint.com/ we would love to make sure you're happy with our services. /KEB

This has to be satire, right?

Green username. Freshly created account.
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