Sen. Elizabeth Warren urges the Fed to break up Wells Fargo

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Wells Fargo opened fraudulent bank accounts in their customers’ names without their knowledge.


I’ve been invited to one of the class action lawsuits against wells Fargo. I didn’t even realize they were scaming me.


> Sen. Elizabeth Warren on Tuesday urged the Federal Reserve to break up Wells Fargo, arguing a string of scandals at the financial titan puts consumers at risk. > In a letter to Fed Chair Jerome Powell, the Massachusetts Democrat called on the central bank’s board of governors to use its authority to separate Wells Fargo’s banking unit from its financial services businesses. She said the Fed could break up Wells Fargo by revoking its license to operate as a financial holding company. > “The Fed has the power to put consumers first, and it must use it,” Warren wrote. “By invoking its full authority to protect consumers and the financial system and requiring Wells Fargo to separate its consumer-facing banking arm from the rest of its financial activities, the Fed can ensure that Wells Fargo faces appropriate consequences for its longstanding ungovernable behavior.”


I keep being shocked that they still exist after the shit they pulled. That fuckery wasn’t just negligent, it was deliberate and malicious.


She’s tired of dudes trying to pick up women with their account balance.