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Tell HN: Wells Fargo completely offline

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Re: Tell HN: Wells Fargo completely offline

#171

Post by mabbo »

CydeWeys wrote: post #55
WrtCdEvrydy wrote: post #13

Earlier quoted context omitted.

If you're waiting for this to be the straw to move away from Wells Fargo after the last set of scandals, you may have some issues...

Unfortunately they're the holders of my mortgage (it was sold twice and they ended up with it). So I don't even have a choice of being their customer for the next ~25 years.

This is why I like the Canadian system of mortgages.

I have a 30 year mortgage, but every 5 years I have to "renew" it. At that time, I have to renegotiate the rate for the next 5 years. As part of this negotiation, I can just switch banks if I want. Or to a private lender. Or to anyone really.

It seems weird to me that you are beholden to an entity you've never signed any contract with.

Re: Tell HN: Wells Fargo completely offline

#172

Post by dawnerd »

rolph wrote: post #147
dawnerd wrote: post #111

Earlier quoted context omitted.

Wasn’t Wells Fargo caught for making accounts for people without permission just to boost their numbers?

Something like this? www.bloomberg.com/opinion/articles/2016-09-09/wells-fargo-opened-a-couple-million-fake-accounts

yep exactly that

Re: Tell HN: Wells Fargo completely offline

#173

Post by chad_strategic »

Wells Fargo is nothing more than a federally regulated crime organization, supported by the federal reserve and the American tax payer, but I digress.

This thread has primarily focused on redundancy and software architecture. That could be the case, but there is no better way to fight proxy war via hacking of banks. It’s a domino effect... pull your money out of the bank, the bank calls loans, then there is credit crunch, investors lose confidence in the stock, value lost etc... the enemy has secretly inflicted civilian problems across the economy. Distrupting the banks and the flow of money can lead to a revolution... or take your mind off of America’s enemy or diverting energy else where.

Re: Tell HN: Wells Fargo completely offline

#174

Post by dboreham »

mabbo wrote: post #171
CydeWeys wrote: post #55

Earlier quoted context omitted.

Unfortunately they're the holders of my mortgage (it was sold twice and they ended up with it). So I don't even have a choice of being their customer for the next ~25 years.

This is why I like the Canadian system of mortgages. I have a 30 year mortgage, but every 5 years I have to "renew" it. At that time, I have to renegotiate the rate for the next 5 years. As part of this negotiation, I can just switch banks if I want. Or to a private lender. Or to anyone really. It seems weird to me that you are beholden to an entity you've never signed any contract with.

Contact you entered into was "assignable"

Re: Tell HN: Wells Fargo completely offline

#175

Post by jedberg »

For everyone complaining about "how could they not have failover" let me ask you this: Would you take a job with Wells Fargo to fix their infrastructure?

And if you did take such a job, how long do you think it would take you to get the budget and approvals from all the auditors necessary to fix everything?

How much would they have to pay you to take that job, knowing how frustrating it would be to get anything done?

And now you see why banks have such terrible IT.

(One of my mentors actually works at BofA, and says he only does it because he gets to work 6 hours a day, gets a VP title and a ton of money, but nothing ever gets done)

Re: Tell HN: Wells Fargo completely offline

#176

Post by rubyfan »

jonwinstanley wrote: post #65
CydeWeys wrote: post #55

Earlier quoted context omitted.

Unfortunately they're the holders of my mortgage (it was sold twice and they ended up with it). So I don't even have a choice of being their customer for the next ~25 years.

A bank without redundancy is the best place to have your mortgage. Just hope that one day they forget about your debt.

More likely they will forget you paid them.

Re: Tell HN: Wells Fargo completely offline

#177

Post by ams6110 »

Klathmon wrote: post #166
40acres wrote: post #153

Earlier quoted context omitted.

Generally I think here is where the FDIC and SPIC would come in.

I can't even imagine the hellish process that you would have to go through to prove that you actually owned the money you did to receive the FDIC or SPIC pay. I'm genuinely curious what the process would look like, if it even applies. Where would you even start if the bank just suddenly says "you have $0"?

I guess I'd start with last month's statements.

Re: Tell HN: Wells Fargo completely offline

#178

Post by Klathmon »

ams6110 wrote: post #177
Klathmon wrote: post #166

Earlier quoted context omitted.

I can't even imagine the hellish process that you would have to go through to prove that you actually owned the money you did to receive the FDIC or SPIC pay. I'm genuinely curious what the process would look like, if it even applies. Where would you even start if the bank just suddenly says "you have $0"?

I guess I'd start with last month's statements.

I don't get those in the mail anymore, just an email with a link to their site.

But even if I did, what do you do from there? Call someone and say "I have a piece of paper that says I should have $x but they say I have $y"?

Re: Tell HN: Wells Fargo completely offline

#179

Post by [deleted] »

hinkley wrote: post #164
rolph wrote: post #149

OK, Hanlon's razor applies here: https://en.wikipedia.org/wiki/Hanlon%27s_razor recall Stuxnet, its possible this was an attack, somesort of malicious mod to firmware, but_ Hanlon's razor. from the reddit: "throwawayfordays75 1399 points 8 hours ago*2 Throwaway since I have first hand knowledge. Fire suppression went off in one of their main Data Centres from some utility work this morning. No power to any of the net…

That user posted an update: "everything minus core network gear was manually being unplugged from any PDUs to help the control the initial power-on." Can't we... Why don't we have rack hardware that can handle this situation? I thought some HDD RAID solutions had circuitry to keep them from browning themselves out while spinning up the disks. I guess I'm surprised this isn't a solved problem at the rack level now. Or…

[deleted]

Re: Tell HN: Wells Fargo completely offline

#180

Post by ams6110 »

Klathmon wrote: post #178
ams6110 wrote: post #177

Earlier quoted context omitted.

I guess I'd start with last month's statements.

I don't get those in the mail anymore, just an email with a link to their site. But even if I did, what do you do from there? Call someone and say "I have a piece of paper that says I should have $x but they say I have $y"?

Yeah my bank is the same. I could download the statements, not sure who really does that accept the extremely paranoid.

Civil claims are based on a preponderance of the evidence. if I go into court with a piece of paper from the bank saying that I have $5,000, and the bank has nothing to say that I do or don't have any money there, I have more evidence on my side than they do on theirs.

In reality it's probably not that simple.

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