What’s the first step to get out of a hole? Stop digging.
“Wells Errs in Bid to Make Amends,” The Wall Street Journal, February 12, 2018 B1. Wells Fargo, a frequent star in this blog, was trying to reach out to the 600,000 – 800,000 customers it screwed over by forcing them to buy auto collision insurance. It couldn’t even do that.
First, it reportedly sent refunds to some non-customers. Second, it told some customers that they would be paid the wrong amount. Third, it said it was going to pay refunds to people who hadn’t even bought the insurance. Affected: 38,000 folks. Cause: a vendor’s coding error.
Fourth, Wells Fargo still hasn’t contacted the 110,000 people it overcharged for mortgage insurance rate locks.
And they are in charge of your bank deposits?
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