The business model of Wells Fargo is fraud.

[Uncle Joe]

Link to tweet

[bluedigger]

1. I always refer to them as "the criminal syndicate d/b/a Wells Fargo".

[Uncle Joe]

2. The thing about Wells Fargo is they were playing both ends against the middle,

laundering drug money for the Sinaloa Cartel while also being invested in private for profit prisons, they just divested earlier this year..

A Wells Fargo personal banker pleaded guilty to helping launder millions of dollars for drug traffickers like the Sinaloa cartel

(snip)

https://www.businessinsider.com/wells-fargo-banker-money-laundering-drug-cartel-sinaloa-mexico-2019-5

On March 12, Wells Fargo’s CEO told Congress that the bank is exiting the private prison industry! Over the past two years, immigrant organizations and allies participating in the Corporate Backers of Hate campaign have been working to expose the Wall Street companies that enable Trump’s aggressive anti-immigrant agenda, and pressuring these banks to stop financing private prison and deportation companies.

(snip)


https://populardemocracy.org/blog/wells-fargo-divests-private-prisons-immigrant-detention-industry

[bluedigger]

3. Well, that's one thing.

They just don't give a fuck. They're above the law.

[Uncle Joe]

4. Of course that was only one small segment of their corruption, creating fake accounts

and such but I found it to be particularly despicable.

[yaesu]

5. the biz model of most banks is fraud, usury, that is why Credit Unions are the way to go. nt