Wells Fargo’s 401(k) Practices Probed By Labor Department:

Ted

FYI: The Labor Department is examining whether Wells Fargo has been pushing participants in low-cost corporate 401(k) plans to roll their holdings into more expensive individual retirement accounts at the bank.
Regards,
Ted
Need WSJ Subscription:
http://www.cetusnews.com/business/Wells-Fargo’s-401(k)-Practices-Probed-by-Labor-Department-.rJMCHOypM.html

bee

Here's a working link:
cetusnews.com/business/Wells-Fargo%E2%80%99s-401(k)-Practices-Probed-by-Labor-Department-.rJMCHOypM.html

Ted

@bee Thanks !
Ted

LewisBraham

My god, will the problems with this company ever end?!

catch22

@LewisBraham Knowing you're aware of this, too.

Well, this is nice I suppose (worker pay raises, link); but CEO Sloan received a $4.6 million pay raise and graciously refused a "performance" bonus.....more or less that there is more work to be done. OK.

http://www.charlotteobserver.com/news/business/banking/article207010029.html

catch22

@LewisBraham

Meanwhile, in Aussieland; some are trying to keep up with Wells Fargo's best practices doctrine.

https://www.sbs.com.au/news/nab-advisers-impersonated-customers-made-unauthorised-withdrawals?cid=trending

http://www.afr.com/opinion/columnists/banks-amp-sitting-on-powder-keg-of-compensation-claims-20180423-h0z4z7

LewisBraham

@catch22 I think some of these banks should rename themselves as the Other People's Money Bank. As long as it's other people's money, these ne'er-do-well bankers feel they can do what they want with it.

Crash

This company is an ethical cesspool.

Old_Joe

I think that you folks must all be way out of line, because Trump's Mick Mulvaney, current head of the Consumer Financial Protection Bureau, just announced that there's no need to maintain a public record of complaints regarding bankers. Maybe Maurice can weigh in on this one.

VintageFreak

Old_Joe said:

I think that you folks must all be way out of line, because Trump's Mick Mulvaney, current head of the Consumer Financial Protection Bureau, just announced that there's no need to maintain a public record of complaints regarding bankers. Maybe Maurice can weigh in on this one.

Yeah I read that. Now Wells is really going Go Far with their naughtiness.