A rare, accurate portrayal of predatory banking behavior from the Times!


From the front page of the Times:

Wells Fargo Abuse Was Like ‘Lions Hunting Zebras’

Former employees of the bank said immigrants, older adults and Native Americans were targeted for fake accounts.

I know pretty wealthy people who are just as unsophisticated as the people targeted by Wells Fargo employees on the orders of their managers.  But those wealthy people get mostly pampered and much less abused over time.

But immigrants, older adults, and Native Americans — they’re fair game and there’s good money fleecing those fine folks, even if they don’t have a lot to fleece.  And they’re preferred targets because they’re not connected and it’s difficult for them to fight back (because they don’t have the financial resources to do so and the government so poorly regulates these bank assholes.)

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