Wells Fargo analysts compared 75 Chipotle Burrito Bowls and found massive differences

Analysts at Wells Fargo bought 75 Chipotle Burrito Bowls from eight different locations and confirmed what we all know to be true: The weight "varied widely."

"Some locations served bowls that weighed about 33% more than other locations, the firm said, noting that they were the exact same order," reports Quartz who examined the Wells Fargo memo detailing the findings. — Read the rest

Chevron, Shell, Wells Fargo fund powerful police groups

"Many powerful companies that drive environmental injustice are also backers of the same police departments that tyrannize the very communities these corporate actors pollute," write the authors of a newly released investigation by the Public Accountability Initiative. The report is titled "Fossil Fuel Industry Pollutes Black & Brown Communities While Propping Up Racist Policing" and it's a damning indictment of corporate giants who protect their astronomical wealth by exploiting the vulnerable. — Read the rest

"A piece of shit": Government report on Wells Fargo corruption shows top executives' direct complicity in millions of acts of fraud

Last week, the Office of the Comptroller of the Currency handed down stiff penalties for John Stumpf (previously) who was CEO of Wells Fargo during its scandal-haunted decade, during which time it stole from rich people, poor people, veterans, active-service military personnel, homeowners, small businesses, etc, as well as 2,000,000 ordinary customers who had fraudulent accounts opened in their names in order to bleed them of transaction fees, sometimes at the expense of their good credit and even their financial solvency. — Read the rest

Wells Fargo is looking for a new CEO

Wells Fargo is America's largest bank and it also leads the nation's banks for scandals, having stolen from rich people, poor people, veterans, active-service military personnel, homeowners, small businesses, etc, as well as 2,000,000 ordinary customers who had fraudulent accounts opened in their names in order to bleed them of transaction fees, sometimes at the expense of their good credit and even their financial solvency.

Wells Fargo blames "computer glitch" for its improper foreclosure on 545 homes

According to Wells Fargo, a "computer glitch" caused the improper denial of 870 loan modification requests, which led to 545 foreclosures in which Wells Fargo customers lost their homes; the bank is now offering those former homeowners — some of whom saw the breakup of their marriages as the result of the stress of foreclosure — insultingly small sums, like $25,000.

Wells Fargo: We can't be sued for lying to shareholders because it was obvious we were lying

Wells Fargo has asked a court to block a shareholder lawsuit that seeks to punish the company for lying when it promised to promptly and completely disclose any new scandals; Wells Fargo claims that the promise was obvious "puffery," a legal concept the FTC has allowed to develop in which companies can be excused for making false claims if it should be obvious that they are lying (as when a company promises that they make "the best-tasting juice in America).

Wells Fargo closes account of Florida candidate for saying she'd take donations from medical marijuana industry

Nikki Fried is a Florida Democrat running to be the state's agriculture commissioner. Medical marijuana is legal in Florida, but when Fried said she was going to accept campaign contributions from the medical marijuana industry, Wells Fargo terminated her account.

From The Washington Post:

At a news conference on Monday, Fried said that "Wells Fargo's actions against my campaign are emblematic of what is wrong with our government and politics today," adding that she was "kicked out of a bank for voicing support of a law that is literally codified in the Florida constitution."

Read the rest

Wells Fargo: we stole houses and we're being investigated for dirty low-income housing credits

In its latest round of shareholder disclosures, Wells Fargo admitted that it "unnecessarily foreclosed" on 400-odd householders (that is, stole their houses) and failed to grant loan modifications to 625 qualified borrowers (this is just the latest revelation about Wells Fargo stealing houses); it's also being investigated for its practice of purchasing low-income housing credits. — Read the rest

Wells Fargo admits it ripped off its customers, creates low-response-rate opt-in system for its victims to get paid back

Wells Fargo has admitted wrongdoing in defrauding 110,000 mortgage borrowers, and to make good on it, they're sending out letters that look like junk-mail, containing a form that customers have to fill in to confirm that they want their stolen money back; if Wells doesn't get a reply, it will assume that those customers are donating their settlements back to the bank's shareholders.