John Oliver - Wells Fargo has been added as a related post - related requested by PlayhousePals.

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John Oliver - Wells Fargo's Ethics has been added as a related post - related requested by PlayhousePals on that post.

Your video, Elizabeth Warren Rips Wells Fargo's CEO A New One, has made it into the Top 15 New Videos listing. Congratulations on your achievement. For your contribution you have been awarded 1 Power Point.

Awesome comment. I wish I could upvote it twice. I threw up a little in my mouth watching the grandstanding going on here and how apparently most Sifters are eating it up.

Fraud? Cross-selling is perfectly legal and in fact practiced regularly in many industries besides banking (like when Best Buy tries to get you to purchase a protection plan for any electronics you buy at their store). If she has an issue with it, as a legislator she is free to bring a bill to the floor to do something about it. The problem is, she didn't give a shit about cross-selling until she realized she was going to have an opportunity to stump for future votes in these hearings and she apparently doesn't give a shit about it now because despite those strong-worded pleas for action she's done nothing personally to make anything she said happen.

Stumpf should give up his money? He isn't the one who opened fake Wells Fargo accounts nor is there any evidence he directed his employees to do so. And as he tried to explain before she cut him off to grandstand some more, those fake accounts only represent 1% of the total cross-selling that happened, which means the stock price was not unduly inflated--people were in fact opening of their own volition more accounts with Wells Fargo than any other bank and Wall Street loved them for it.

The real issue here is that there were not adequate controls in place to prevent the fake accounts from being created in the first place (or detected quickly after being created). And for that Stumpf probably does have some small amount of responsibility, although it sounds to me more like whoever was in charge of compliance is the person who likely should be the one left holding the bag.

But let's not let reality get in the way of a politician's dreams of future offices.

Congratulations! Your comment on Senator Warren Destroys Wells Fargo CEO Over Cross Selling has just received enough votes from the community to earn you 1 Power Point. Thank you for your quality contribution to VideoSift.

Congratulations! Your comment on Senator Warren Destroys Wells Fargo CEO Over Cross Selling has just received enough votes from the community to earn you 1 Power Point. Thank you for your quality contribution to VideoSift.

Here's a bit more info...

http://www.thestranger.com/slog/2016/09/20/24570408/watch-senator-elizabeth-warrens-splendid-takedown-of-gutless-wells-fargo-executive

Tags for this video have been changed from 'TYT, Wells Fargo, health insurance' to 'TYT, Wells Fargo, health insurance, Yovany Gonzalez' - edited by bareboards2

I actually got my Cobra insurance renewed last Wednesday. The assholes raised premiums ten dollars.
In reply to this comment by deathcow:
I would sure as shit have me some COBRA insurance immediately to stick it to them.

Failing that I would live in Georgia (or another of 19 states total) within DAYS and my daughter would qualify for TEFRA insurance. (Katie Beckett insurance.)

Failing that, with this story on national news, I bet those people who bought a $650,000 vacation for the bus monitor would help out... and Wells Fargo would look like the biggest asses in the world.

Fuck! YEAH!

This combined with Colbert reporting on the guy that foreclosed on his local Wells Fargo branch is making me fucking love this country. We need more of this...not gonna take it anymore you fucking bastards!!!

What does Wells Fargo and a vampire have in common?



They were both brought back from the dead.



>> ^rottenseed:

let's see...blood bank joke, check...stake joke, check...bloodsucking joke, check...
k, well it looks like you guys have it covered but feel free to call me if you need anything.

I like that he so nonchalantly describes the process that led to a Sheriff moving to liquidate the local Wells Fargo's property to pay him, and convincingly argued that this wasn't as weird as it sounds.

... also interesting that he then took his story to the local news and THEN finally received some attention; makes one wonder whether that is also a necessary step.