Dear Justin, Your biggest mistake was continuing to bank with Wells Fargo. Best, Retiring Guy

New York Times, 3/6/2022

The scheme that ensnared Mr. Faunce — some bankers call it the “me-to-me” scam — has become so common that it’s a staple of local news reports and police blotters. The consumer bureau has been barraged with complaints. In Pennsylvania, a surge in reports about the scam prompted the police to issue a warning. The precise mechanics vary, but it is typically a psychological con that involves tricking victims into surrendering sensitive information.   [emphasis added]

In Mr. Faunce’s case, it started with a text message that appeared to come from Wells Fargo’s fraud department, asking him to verify whether he had made a payment through Zelle.

Apparenlty, there are a lot of 

out there.

7/10/2021 update, "Why would anybody still bank with Wells Fargo?, starts here.

Madison.com, 7/10/2021

Wells Fargo customers have begun receiving notification that their personal line of credit accounts will close, and the company confirmed Thursday that it will no longer offer the product. Once the accounts are closed, customers will no longer be able to draw from them. 

The company announced that it would discontinue the product last year, said Wells Fargo spokesperson Manuel Venegas in an emailed statement. But if the looming closure of your account is news to you, it may be an unwelcome surprise. 

Not only will the accounts close, but Wells Fargo also indicated consumers’ credit scores may take a hit as a result. 

“We realize change can be inconvenient, especially when customer credit may be impacted,” Venegas said.

8/22/2019 update starts here

Wells Fargo Closed Their Accounts, but the Fees Continued to Mount.  (The New York Times, 8/16/2019)


Original 1/27/2019 post, "GET ME REWRITE!  This is about an expensive ad in the Sunday New York Times", starts here.

Just how expensive?  Maybe you can figure it out.

BACK STORY.  How Wells Fargo's cutthroat corporate culture allegedly drove bankers to fraud.  (Vanity Fair, Summer 2017)

Most Americans have assumed their bank accounts are sacrosanct. But with the major scandal unfolding at Wells Fargo, angry former employees illuminate the alarming pressure that allegedly led local bankers to defraud perhaps more than a million customers.

AS IN COSMETIC CHANGE.  Wells Fargo Launches New Brand Campaign, ‘This is Wells Fargo,’ Focused on Customer Experience.  (BusinessWire, 1/24/2019)

Are you experienced? As part of the campaign, the company also will introduce a new visual identity, including an evolved logo, modern stagecoach, and digitally friendly colors and tone. For the first time in Wells Fargo’s 167-year history, the campaign prominently features Wells Fargo team members helping customers with their everyday financial needs.

Related post:
Wells Fargo wants your trust.  (9/25/2018)