Feds knew of 700 Wells Fargo whistleblower cases in 2010


Feds knew of 700 Wells Fargo whistleblower cases in 2010

Feds knew of 700 Wells Fargo whistleblower cases in 2010


America’s chief federal banking regulator admits it failed to act on numerous “red flags” at Wells Fargo that could have stopped the fake account scandal years earlier.

One particularly alarming red flag that went unheeded: In January 2010, the regulator was aware of “700 cases of whistleblower complaints” about Wells Fargo’s sales tactics.

 An internal review published on Wednesday by the Office of the Comptroller of the Currency found that the regulator didn’t live up to its responsibilities. The report found that oversight of Wells Fargo (WFC) was “untimely and ineffective” and federal examiners overseeing the bank “missed” several opportunities to uncover the problems that led to the creation of millions of fake accounts.
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One Response to “Feds knew of 700 Wells Fargo whistleblower cases in 2010”

  1. Charles Reed says:

    Wells Fargo Bank a former employer of mine that I wrote a letter and sent it across town to Warren Buffet May 2005 about trying to fix the system for military families as they were not getting the best service or price.

    I first informed the Fed of Wells Fargo miscalculating the escrow accounts and using this to not underwrite a modification which actually could not be done because as there is a fatal flaw in the Ginnie Mae program. But let understand this was happening under Obama’s watch!

    Obama is responsible not only for this 2 million plus forged accounts, but the bigger deal is the $11.44 billion fraud Wells pulled on the 104,000 FHA, VA, USDA loans placed in the Washington Mutual Bank (WaMu)Ginnie Mae Mortgage Backed Securities (MBS). I now see I cannot be the only Mortgage Loan worker that knows about the “Forging” of all the Titles because it was impossible after Sept 25, 2008, to have WaMu complain to the works that it is owned monies from the loans it no longer (and never will have possession of the blank endorsed Notes) has ownership of!

    America talking about a couple of million that the settlement was $295 million, but the amount of the WaMu crime is $11.44 with treble damage!

    SEC TCR 1328885716655 Feb 2012! It reveals more than $11.44 billion as it talking about $88 billion plus treble damages but Obama does not receive the $65 billion book deal and keep billions for the Fed Gov and a couple billions from a black man!


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