Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Wells Fargo to pay $3.7B for mistreating customers

finance.yahoo.com

Post reply on HN
Print view View original

261–270 of 465 posts

Re: Wells Fargo to pay $3.7B for mistreating customers

#261

Post by caogecym »

theandrewbailey wrote: post #5

I don't understand why anyone still does business with Wells Fargo.

Their ATMs are pretty handy. It does not require a physical card - you can just tap your phone on the ATM to withdraw cash. Also there’s lots of ATM locations in north California which is pretty convenient if you happened to need cash.

One thing I do not understand though is that when deposit via their mobile app, they ask you to write something like “Used for Wells Fargo mobile deposit” on the check, which is a pain, not sure how other banks do it.

Re: Wells Fargo to pay $3.7B for mistreating customers

#262

Post by scarface74 »

jliptzin wrote: post #221
Merad wrote: post #206

Earlier quoted context omitted.

> [...] doing your own startup is one of the few relatively low risk gambles one can take. I was under the impression that around 90% of startups failed. Was I mistaken, have the numbers changed, or do we just have very different thresholds for "low risk"?

I have started a number of businesses, even what I considered the unsuccessful ones still made me more money than I would have made at any 9-5 I could have had at the time. You just have to be willing to do something boring and compete against businesses that aren’t currently being run well. Starting the 7,000th craft beer company is gonna be really hard but (for example) being the #1 powerwashing company in your tow…

The average enterprise dev in any major city in the US can make twice the median household income with 3-5 years experience.

Re: Wells Fargo to pay $3.7B for mistreating customers

#263

Post by toomuchtodo »

PaulDavisThe1st wrote: post #227
hdhdhdh88 wrote: post #181

Earlier quoted context omitted.

If possible, leave USA. There are political systems around the world that aren’t broken and there are some that are actually being fixed by voters (e.g. Australia). But USA is broken for at least our lifetimes. You only live once.

If this is true, who is going to fix it and where will they come from? If this is not true, then ... well then you're just wrong.

I’m leaving for Western Europe, all of the tools I need for advocacy and accountability work just fine from over there (laptop and mobile device are all that is required). I’m unable to run for office, I am not an ideal candidate for various reasons. I want the country improved long term, but am unwilling to suffer in the short term because of, for lack of a better words, the malevolent and troglodytes. In the case of voting, you can’t persuade some people even with evidence and data. You might just have to wait for old people to age out (1.8 million voters over the age of 55 age out every year) and younger folks (open to new ideas and mental models) to come of age, before there are improved chances of success. If you have to wait somewhere, don’t wait here if you don’t have to (life lesson: never suffer needlessly).

(I also contribute time to helping anyone wanting to expat out of the US get to higher quality jurisdictions, Europe, Australia, etc)

Re: Wells Fargo to pay $3.7B for mistreating customers

#264

Post by PaulDavisThe1st »

toomuchtodo wrote: post #263
PaulDavisThe1st wrote: post #227

Earlier quoted context omitted.

If this is true, who is going to fix it and where will they come from? If this is not true, then ... well then you're just wrong.

I’m leaving for Western Europe, all of the tools I need for advocacy and accountability work just fine from over there (laptop and mobile device are all that is required). I’m unable to run for office, I am not an ideal candidate for various reasons. I want the country improved long term, but am unwilling to suffer in the short term because of, for lack of a better words, the malevolent and troglodytes. In the case o…

I grew up in Western Europe. I intend to die in the US.

Re: Wells Fargo to pay $3.7B for mistreating customers

#265

Post by PaulDavisThe1st »

sidewndr46 wrote: post #246
PaulDavisThe1st wrote: post #242

Earlier quoted context omitted.

No, it doesn't mean that at all. Real prices are a function of the ratio between the cost and earnings. If earnings rise faster than cost, real prices fall. Now, whether or not that's a likely scenario is a separate question, but it is absolutely not impossible and has happened before.

Have you ever been into a store and had them list the price of an item as 0.00389% of your annual income?

Of course not. That doesn't make what I said false.

Have you ever had anyone say "cars cost so much more now, they were only $800 in 1942" and be taken seriously? (or whatever similar example you want to use)

Re: Wells Fargo to pay $3.7B for mistreating customers

#266

Post by toomuchtodo »

PaulDavisThe1st wrote: post #264
toomuchtodo wrote: post #263

Earlier quoted context omitted.

I’m leaving for Western Europe, all of the tools I need for advocacy and accountability work just fine from over there (laptop and mobile device are all that is required). I’m unable to run for office, I am not an ideal candidate for various reasons. I want the country improved long term, but am unwilling to suffer in the short term because of, for lack of a better words, the malevolent and troglodytes. In the case o…

I grew up in Western Europe. I intend to die in the US.

Enjoy (genuinely). I don’t know where I’ll die, I just know where I don’t want to live as someone with substantial empathy. I don’t have much hope near term here, and hope is everything.

https://youtu.be/gv0i8YasmEM

Re: Wells Fargo to pay $3.7B for mistreating customers

#267

Post by yieldcrv »

bityard wrote: post #187
sizzle wrote: post #139

Earlier quoted context omitted.

I can’t even afford a home right now on a tech salary with sky high rent paying off my landlords 2% refi’d mortgage and student loans making it impossible at 6-7% fed interest rate hikes and inflated home prices after the insane COVID housing price bubble increase. I feel like life won’t start for another 5+ years for people like me, unless we gamble on being underwater on an inflated mortgage entering at the peak of…

I don't mean to marginalize your frustration, but I feel like you may have unrealistic expectations. First, you have a tech industry salary, which is probably at least twice as much as the median wage, if not more. Not only is it white-collar work with practically no risk to your physical safety (assuming you exercise, eat right, etc), but monetarily this puts you _way_ ahead of most people right out of the gate. If…

Obviously they are in a HCOL area, but you know whats worse than being underwater on a mortgage where you want to live? Being underwater on a mortgage in the middle of nowhere, where nobody else wants to live. I know plenty that got stuck in small towns in 2008-onwards servicing the debt on their home. Places that only were beneficiaries of broad speculative demand have the steepest price drops there is no real demand.

These are frightening prospects for people that want to play this game.

Re: Wells Fargo to pay $3.7B for mistreating customers

#268

Post by scarface74 »

willcipriano wrote: post #13

My father taught me that if you are going to steal from someone you never steal his tools or his vehicle, because those are the means he uses to make a living and you dont want to be responsible for his kids going hungry. Given this history of Wells Fargo this isn't a one off accident. It's often said but people really need to go to prison for this, not club fed either, send them to be with the other carjackers.

If someone breaks into my car and I see them, I yell at them and call the police from a distance. If someone breaks into my house while I’m there, I assume they mean me harm and all bets are off.

I’m not a gun nut. I don’t even own a gun. But I support anyone’s right to shoot someone who breaks into their home while they are there

Re: Wells Fargo to pay $3.7B for mistreating customers

#269

Post by asah »

paxys wrote: post #79
silisili wrote: post #17

Why is it -always- Wells Fargo. There are thousands of banks out there, and Wells Fargo is not even close to being the biggest. But why are they in the news every year for some illegal dealings? It feels like they should be broken up or something at this point.

> and Wells Fargo is not even close to being the biggest Wells Fargo is the 2nd largest mortgage lender in the USA (after Quicken), #4 bank in terms of assets under management, #3 by market cap, #2 in number of branches. It is absolutely massive.

there's plenty of other banks to pickup the slack. Enough is enough.

Re: Wells Fargo to pay $3.7B for mistreating customers

#270

Post by yieldcrv »

dvt wrote: post #209
Merad wrote: post #206

Earlier quoted context omitted.

> [...] doing your own startup is one of the few relatively low risk gambles one can take. I was under the impression that around 90% of startups failed. Was I mistaken, have the numbers changed, or do we just have very different thresholds for "low risk"?

High failure rate ≠ high risk. Everything with a high upside will have a high failure rate, but working 10 hours on your own startup a week is definitely lower risk than gambling with options (which is what /r/wallstreetbets is doing) or gambling with crypto (even higher risk). I know people that made low 7 figures last year flipping NFTs, but the risk profile (to me, at least) was untenable. At least in Vegas you ge…

I personally find trading crypto to be lower risk than options trading. They have options-like returns, but without the theta decay - you have a longer time period to be on the correct side of the market.
Post reply on HN