WTF is Up with Wells Fargo?! And How to Protect Yourself
Money Rehab with Nicole Lapin
Money News Network
4.6 • 1.7K Ratings
🗓️ 27 July 2021
⏱️ 12 minutes
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Summary
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| 0:00.0 | Hey guys, are you ready for some money rehab? |
| 0:05.1 | Wall Street has been completely upended by an unlikely player. Game stop. |
| 0:09.8 | Dean and should I have a 401k because you don't do it? |
| 0:12.6 | No, I know. |
| 0:15.2 | I don't think the whole world will revolve around you on your money. |
| 0:17.6 | What a dumb shit. |
| 0:19.6 | Charge for wasting our time. |
| 0:23.8 | I will take a check. |
| 0:24.8 | I got a full check. |
| 0:26.8 | You recognize her from anchoring on CNN, CNBC and Bloomberg. |
| 0:31.2 | The only financial expert you don't need a dictionary to understand. |
| 0:35.4 | The cold lap in. |
| 0:37.4 | Earlier this month, Wells Fargo made news yet again. |
| 0:41.4 | You might remember in 2016 when Wells Fargo made headlines for the fake account scandal. |
| 0:46.4 | If you don't know the story, it's a doozy. |
| 0:48.4 | Basically, Wells Fargo employees meddled with Wells Fargo customers' accounts without their consent. |
| 0:54.2 | These employees were going into people's accounts and creating new checking accounts without authorization. |
| 1:00.2 | Then they moved people's money from their old pre-existing accounts into these new accounts, again, all without authorization. |
| 1:08.2 | So what would happen is a customer would withdraw money from their account. |
| 1:12.2 | The account they legit opened knowingly and willingly, thinking the money was there, safe and sound. |
| 1:18.2 | Think about it. You may check your bank account on payday and see that you have $3,000 in your account and feel absolutely relieved knowing that your $800 rent check is going to clear no problem. |
| 1:30.2 | But because Wells Fargo had moved that money into a different account, boom! |
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