Wednesday, October 5, 2016

Wells Fargo Fake Bank Account Scandal -- About 10K small business accounts affected

Source - iBitcoin

by Raul3, October 4th 2016

Whispers are going around that Louisiana Republican Senator David Vitter has said the Wells Fargo’s account scandal is not limited to consumer banking.

The San Fransisco bank has become the government’s punching bag after the Justice Department determined they had fraudulently created over 2 million fake bank accounts and credit cards designed to slowly suck late-fees out of their customer’s accounts.

Wells Fargo bandits running bootleg liquor and cigarettes across Zion National Park

Since paying the $185 million fine, the firm was also fired by the Sate of California, who announced they would no longer issue municipal bonds through Wells Fargo nor would they conduct any investment banking with Wells Fargo securities.

Last Friday the Justice Department also determined the repo division of Wells Fargo had illegally taking possession of over 400 service members’ vehicles.

Now rumors are flying that Louisiana’s Senator Vitter is fixing to take a hard look at their business banking practices. Many suspect their other actions are a likely indication that shenanigans were afoot in business banking also.

WFC shares are breaking down below their multi-month range low of about $44/share. If the selling persists, it is likely to trigger a fast, liquidation type move, with little in the way of support until around $35/share.

This is a developing story without credible sources. The good folks at iBankCoin will update the story as more information becomes available.

Related 5 Major Banks (The Cartel) Plead Guilty To Market Rigging, Fined $5.7 Billion - Make this Red Pill Viral

Source - CNBC

by REUTERS, October 4th 2016

Wells Fargo's account scandal is not limited to its consumer banking sector, U.S. Senator David Vitter told the bank's chief executive in a letter.

Thousands of small business owners were also impacted by Wells Fargo's practices, wrote Vitter, a Republican from Louisiana, in a letter dated Sept. 29 to Wells Fargo chief executive John Stumpf and seen by Reuters.

Vitter demanded a "full accounting" of small business owners affected by "fraudulent activity." Around 10,000 small business accounts were affected by improper Wells practices, people familiar with the matter said.
Stillness in the Storm Editor's note: Did you find a spelling error or grammar mistake? Do you think this article needs a correction or update? Or do you just have some feedback? Send us an email at sitsshow@gmail.comThank you for reading.

Question -- What is the goal of this website? Why do we share different sources of information that sometimes conflicts or might even be considered disinformation? 
Answer -- The primary goal of Stillness in the Storm is to help all people become better truth-seekers in a real-time boots-on-the-ground fashion. This is for the purpose of learning to think critically, discovering the truth from within—not just believing things blindly because it came from an "authority" or credible source. Instead of telling you what the truth is, we share information from many sources so that you can discern it for yourself. We focus on teaching you the tools to become your own authority on the truth, gaining self-mastery, sovereignty, and freedom in the process. We want each of you to become your own leaders and masters of personal discernment, and as such, all information should be vetted, analyzed and discerned at a personal level. We also encourage you to discuss your thoughts in the comments section of this site to engage in a group discernment process. 

"It is the mark of an educated mind to be able to entertain a thought without accepting it. " – Aristotle

The opinions expressed in this article do not necessarily reflect the views Stillness in the Storm, the authors who contribute to it, or those who follow it. 

View and Share our Images
Curious about Stillness in the Storm? 
See our About this blog - Contact Us page.

If it was not for the gallant support of readers, we could not devote so much energy into continuing this blog. We greatly appreciate any support you provide!

We hope you benefit from this not-for-profit site 

It takes hours of work every day to maintain, write, edit, research, illustrate and publish this blog. We have been greatly empowered by our search for the truth, and the work of other researchers. We hope our efforts 
to give back, with this website, helps others in gaining 
knowledge, liberation and empowerment.

"There are only two mistakes one can make along the road to truth; 
not going all the way, and not starting." - Buddha

If you find our work of value, consider making a Contribution.
This website is supported by readers like you. 

[Click on Image below to Contribute]

Support Stillness in the Storm