Wells Fargo has been through a lot.

Unauthorized accounts in 2016 have led to thousands being unemployed, billions in lost income and bans for some people. Well, it will soon lead to a layoff of up to 66k employees, which are mostly "the little guy".

Wells announced last week that they will also freeze the pay of people making $150,000 or more!

Plus, Bank of America gets a "rubber stamp" no-action letter from the CFPB, which spells out "No Enforcement Action" on BofA planning on giving out "Payday-Style" loans to its customers.

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Voicemail Line: 575-322-4127 (3M Max)

Dedicated to the employees of big banks who get shit on over and over again.

Speculation is that Wells Fargo is going to cut it's workforce by 20-25% really soon, which could mean up to 66,000 employees gone. Amazing. It is all the residual aftereffects of the "Unauthorized Account Scandal" (Lay people know it as "Fake Account Scandal"). In my opening segment, I discuss how 5,300 people fired in 2016 for the scandal really should have only been a fraction of that which pushed sales goals to low level employees, and how now with revenues and profits down, Wells will cut spending by eliminating jobs of people who were never involved in scandal.

I speculate aside from the millions of customers impacted, maybe millions more are impacted as a result of the layoffs. (Kids, Wives, Husbands, Etc.)

Then the HUGE STORY of the week. Bank of America announces that the pandemic is all over, and they are removing the $200 bonus pay from front-facing employees/call center employees checks.

Judd Legum broke the story a month after I first mentioned it on this podcast. I am that good :)

(Wait... You mean the virus is still around? So why are they taking away pay?)

Citing going back to "business-as-usual", Bank of America in a memo stated that pandemic pay ends in October.

MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker

NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker

The Notorious Banker is on TikTok - @NotoriousBanker

Youtube Channel - Click Here

Sponsors [email protected]  - Advertise your business with a growing, cutting edge podcast.

Visit our Twitter Page @BankBetterGuy -  Bank Advice, humor, observations, deals and  VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright

Voicemail Line: 575-322-4127 (3M Max)

Election Day is 8 days away as of the recording of this podcast.

No matter who you vote for, I support your American duty to VOTE! (Vote Often in Chicago...Kidding)

Big Banks claim to support your right to vote too, offering up to 3 paid hours for voting time per "eligible employee" at Bank of America.

Long Story Short, Banks only portray that they are caring American companies allowing their people to do their civic duty. Reality: Do it on your own time, Buster!

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MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker

NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker

The Notorious Banker is on TikTok - @NotoriousBanker

Youtube Channel - Click Here

Sponsors [email protected]  - Advertise your business with a growing, cutting edge podcast.

Visit our Twitter Page @BankBetterGuy -  Bank Advice, humor, observations, deals and  VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright

Voicemail Line: 575-322-4127 (3M Max)

Wells Fargo did it again. Another Wells Fargo story that does not look good.

I call Wells Fargo the Mike Tyson of Banks. Almost any story you pin on Tyson, you could believe. I believe Wells is capable of anything.

Over 100 employees, likely from the small business arm of Wells were terminated last week when it was announced that they allegedly procured EIDL Disaster Aid Loans  (From Covid-19 Funds) for themselves using phony businesses and non-profits.

 I also dig in a bit to the issue of gov't aid and my own family experiences and stories about others they knew who were taking advantage of the aid like Wells Employees (And allegedly Chase as well)

WaPo Story

SBA Government Site to learn about EIDL

Also in the podcast, I talk about the 10 year anniversary of the "F11" incident. An incident so dumb it got me in serious trouble at BofA, nearly getting me fired. All I did was hit a button that did nothing but check the time on a computer, but to BofA, I was sabotaging the regions sales numbers with that time check. So stupid, and thinking of it reminds me why I hate BofA ha.

All My Links HERE

MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker

NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker

The Notorious Banker is on TikTok - @NotoriousBanker

Youtube Channel - Click Here

Sponsors [email protected]  - Advertise your business with a growing, cutting edge podcast.

Visit our Twitter Page @BankBetterGuy -  Bank Advice, humor, observations, deals and  VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright

Voicemail Line: 575-322-4127 (3M Max)

After a very popular podcast and Twitter posts I did last week in regards to the Bank of America announcement that they will be offering small loans to help customers bridge the gaps between checks (aka Payday Loans), I received over 100 DMs, emails and social media engagements. Most of them were in agreement with me, but some understandably questioned my dissent to this product.

To my longtime listeners Seth in Atlanta, Kerri in Arvada, CO, and Lance in Corvalis OR, thanks for the feedback. I answered their questions they posed to me in this podcast. I talk about my reasons again for not liking the loan, and what should be something they should offer instead. This story will not die!

Plus, I talk about a story I neglected to mention about a bank we never have enough time to talk about. Chase committed $30 Billion over 5 years to "Advance Racial Equity", which sounds very familiar to BofA's way of announcing their $1 Billion donation. Of course, I believe that most of the money in this commitment will never touch a customer's hand directly. Almost half of the $30B will be lent to fund construction of low income rentals.. So it will be used to keep POC in the same situation they are already in? (Makes confused Scooby-Doo sound)

In this segment, I talk about how lending for home ownership is inflated by a flat number: $200k

I talk more about the rental thing.

I also discuss how they are going to "help" 1 million low income customers get low-cost bank accounts, when they very easily could give free accounts. It's all so ridiculous.

But honestly, shout out to Chase for at least throwing themselves under the bus in statements to sell that they mean business a little harder as they did on Juneteenth!

MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker

NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker

The Notorious Banker is on TikTok - @NotoriousBanker

Youtube Channel - Click Here

Sponsors [email protected]  - Advertise your business with a growing, cutting edge podcast.

Visit our Twitter Page @BankBetterGuy -  Bank Advice, humor, observations, deals and  VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright

Voicemail Line: 575-322-4127 (3M Max)

Bank of America reached Meta status today by announcing that they will be offering small-dollar loans up to $500 for eligible customers who need "liquidity" according to some Bank of America Executive who doesn't know how real people talk.  The product is lamely called "Balance Assist". Bank of America has a disdain for the payday lending industry, and this product is no better.

Press Release

OH BTW, Their website also warns against such products!

In this podcast, I discuss why I don't like payday loans, my history with them as a kid growing up and as a roommate to college kids. I talk about how the people who need help the most don't need payday loans to get by, they need real help from their banks to get by. I learned of this news while donating plasma, which led me to record a voicemail to myself, which is included in the podcast.  

I talk about the articles released by several media sources and how the BofA execs hype this up as some game changer. One article has a quote from a "consumer advocate" for the Financial Health Network praising BofA, without acknowledging BofA is a member of her consumer advocacy group

American Banker Article

Bloomberg Article

Austin Weinstein's Article in the Charlotte Observer

Second Part of the podcast, I discuss the terms and conditions of the Balance Assist project, and discuss how in order to get this payday loan, you have to have an account that 1. Can charge you overdraft fees/NSF Fees, 2. Have qualified direct deposit, which many don't have, 3. Have a positive balance, which may be an issue for some seeking this loan, and 4. Have a 90 day payment plan which can impact other short-term bills for people.

Let's not mention the fact they lump this in with other "helpful" products mentioned in the release that help no one. I talk about those as well. I try not to get too angry!

MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker

NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker

The Notorious Banker is on TikTok - @NotoriousBanker

Youtube Channel - Click Here

Sponsors [email protected]  - Advertise your business with a growing, cutting edge podcast.

Visit our Twitter Page @BankBetterGuy -  Bank Advice, humor, observations, deals and  VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright

Voicemail Line: 575-322-4127 (3M Max)

I discuss how Bank of America's "Cyber Security Week" includes inferences to my project in its text and how Bank of America knows that since I do nothing but help customers connect with managers, they are doing their best to accuse me of being a "Scammer". 

Hilarious! I tell a couple customer service stories about my work at BofA and how I plan to go about my project now that Bank of America is trying to cast doubt on "The Notorious Banker". Perhaps you can leave me alone and help your clients a little better, idiots, and maybe, just maybe I wouldn't be making a living on helping people better than you. :)

Also, Austin Weinstein has a great story in the Charlotte Observer about 7 High Ranking Black Female Execs who have left Wells Fargo for other jobs in the past 12 months. In light of the CEO Charlie Scharf's "limited pool of talent" comments, I discuss how CEO Scharf and all CEOs and newly hired people in all industries hire people they are familiar with, which of course limits opportunities for women and minorities going forward. I talk about it using a couple of sports analogies. 

I also talk about how long it may take to develop a pool, and if CEO Scharf can ever see it all the way through, just because of time. I also talk about a couple personal stories of how working on the branch level can stunt your growth up the chain, simply because of those same big shots playing you as a chess piece when taking over a bank  market/area/region

MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker

NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker

The Notorious Banker is on TikTok - @NotoriousBanker

Youtube Channel - Click Here

Sponsors [email protected]  - Advertise your business with a growing, cutting edge podcast.

Visit our Twitter Page @BankBetterGuy -  Bank Advice, humor, observations, deals and  VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright

Voicemail Line: 575-322-4127 (3M Max)

Segment 1:

I detail why I was suspended from Twitter on Wednesday in the middle of one of the biggest bank stories of the year, The controversial comments by CEO of Wells Fargo Scharf. I discuss the fear of me losing all of my data/conversations, how I found out both Wells and BofA reported posts on Tuesday/Wednesday for messages they claimed "Incited Bullying" (Posted contact info of execs at both companies), and the subsequent reinstatement/apology I got from Twitter for suspending me "In Error". I won't forget this, big banks!

Segment 2:

In the heart of election season, I reminisce about a former client of mine. One of my favs. "Mr. Ben" was a 90+ yo man who lived on a fixed SSI payment of $450 a month, yet he went through a box of checks a month. Why? Because he  would donate to his favorite political candidates $3 checks at a time. He would continuously write checks, until 2012, when a fraud incident required BofA to freeze his account. Not wanting to close it because of a fee waiver that gave him free checks, he decided not to pursue the claim. BofA did, and blocked his account temporarily. When I got it fixed, everything that was great about his account was not there, and a man taken advantage of by promises by politicians was now getting scammed of 100s by BofA.

Segment 3:

I pick apart CEO of Wells Fargo Charles Scharf's longer, more lame apology where he points out the 4 POC he did hire, discusses initiatives to have more conversations (e.g. Do Nothing some more), and hold execs accountable for not hitting diversity goals. Yawn. 

Segment 4:

I wrap up by reading a webpage from Bank of America clearly alluding to me and my project on Twitter. HAHA I tell people not to trust Bank of America, and they are lumping me in as a "scammer" they tell clients how to avoid people like me. I discuss why they are idiots and the short and long term goals for TNB as I am set to debut my book/go public! Stay tuned for fun!

MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker

NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker

The Notorious Banker is on TikTok - @NotoriousBanker

Youtube Channel - Click Here

Sponsors [email protected]  - Advertise your business with a growing, cutting edge podcast.

Visit our Twitter Page @BankBetterGuy -  Bank Advice, humor, observations, deals and  VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright

Voicemail Line: 575-322-4127 (3M Max)

Unbelievable day. We had to do a special podcast based on the idiotic comments that CEO of Wells Fargo Charles Scharf made in a Wells Fargo meeting in June. The racially charged comments (in my eyes) were made about his own employees in the midst of Juneteenth week, where his bank adversaries were working on celebrating the holiday on a grand scale for the first time.

NBC News Article that blew up Twitter!

Imani Moise Article that I first saw that morning

I ramble on for 45 minutes about what I think he meant by it (which is still not good), and how a lot of the time, just looking at numbers that bankers can't control can impact who gets promoted and who doesn't, as I experienced that myself in banking.

I also talk about how his CFO mentioned budget cuts which could mean job losses, yet Scharf still wants to double black exec jobs in that same time. Does that mean higher title for no pay raise then for those folks? I discuss how this statement could have been an offhand comment to discuss how execs weren't going to get bonuses for hitting diversity quotas.

I also talk about do I think he should resign..... Plus his "apology"

It's a complicated story I stayed up all night for. Hope you enjoy my podcast if this is your first!

MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker

NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker

The Notorious Banker is on TikTok - @NotoriousBanker

Youtube Channel - Click Here

Sponsors [email protected]  - Advertise your business with a growing, cutting edge podcast.

Visit our Twitter Page @BankBetterGuy -  Bank Advice, humor, observations, deals and  VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright

Voicemail Line: 575-322-4127 (3M Max)

I received a screenshot of an email someone who works at Bank of America got to be on the lookout for "criminals using BofA contacts to appear to be helpful online". I am certain they are referring to me. The fact that BofA sees my presence online as something to "worry" about is laughable, as I have hundreds of people who I have assisted in the last year willing to back me up. I discuss what they are talking about and why they are totally wrong. Bank of America has public contact information for most of their leaders online. I merely direct people to it with my project.

Also, I talk much more about the monthly fee changes at Wells Fargo starting October 8th. I got so many emails about why it should matter to customers who don't even have to worry about this, and I go into detail why they should care, and why this is only the start of more of this with all big banks.

Finally, I do over 40 minutes (I plan on doing a part 2 as well) about the American Banker article discussing "Extreme Sales Practices" at Bank of America as written by Kevin Wack. 

In a weird way, I defend some of the claims against Bank of America made by people who chose to remain anonymous. While sales pressure was high, the accusations made by some people didn't gel with what I knew about BofA "procedure" for discipline, hitting your goals, and bonuses over 13 years. I am of the thought that you need to get it right if you make claims about BofA experiences, and I feel some of the claims by anonymous people were not correct. I am so conflicted about some of it, you have to listen to understand!

MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker

NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker

Sponsors [email protected]  - Advertise your business with a growing, cutting edge podcast.

Visit our Twitter Page @BankBetterGuy -  Bank Advice, humor, observations, deals and  VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright

Voicemail Line: 575-322-4127 (3M Max)