023: The Wells Fargo Bank Fraud & Reading: 9/12 “Humility with Numbers”

In this Episode

clarity100:00 The Wells Fargo Bank Fraud is Relevant to All Compulsive Spenders
I talk about this awful situation and why you MUST reconcile your bank account with your spending plan! And even if you don’t have a spending plan, why the least you need to do is check your accounts weekly. Plus, why I now advocate that you should ALWAYS open up mail from banks or credit card companies EVEN if it just looks like advertising or you are afraid it is a collection notice. (But if it’s an ad for a credit card – “recoil as from a hot flame” and shred it or burn it immediately! 🙂 )

21:47 Daily Reader for Compulsive Debtors and Spenders: September 12th: “Humility with Numbers”

Resources Mentioned in this Podcast


Debtors Anonymous
Underearners Anonymous
Spenders Anonymous

Chex System: Reporting agency for fraudulent checking and savings accounts.

On last week’s podcast, I read the September 5th reading from the Daily Reader for Compulsive Debtors and Spenders called: “Opening the Envelope” (go to time stamp 34:05 to hear it)

CNN Money article on Wells Fargo Fraud

YouTube video from CBS Evening News on Wells Fargo Fraud (with Scott Pelley and John Blackstone reporting):


Music Attribution

“Life of Riley” (Intro and Outro), “Carpe Diem,” “Fretless,” “Danger Storm,” and “Marty Gots a Plan” by Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
http://creativecommons.org/licenses/by/3.0/


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2 thoughts on “023: The Wells Fargo Bank Fraud & Reading: 9/12 “Humility with Numbers”

  1. Wells Fargo issued a credit card for my deceased mother. They made me bring in a death certificate to officially close the account. I know I had shown them the death certificate before when she passed at the end of 2015.
    I just closed a saving account and checking account they made me open when my sister and I took control of the family funds 3 years ago, they were supposed to be fee-free, but I noticed fees in the past few months, and they pay very little interest: .05% on savings.
    Many institutions beg you to go paperless, and unless you check you on line accounts often, this could be a problem. Love your podcast!

    • Thanks for your comment, April. Sorry about your mom. It’s really true about checking often online. I prefer paperless as paper can get lost in the mail. I am now in the habit of checking multiple times a week as part of my reconciling process. It takes less than five minutes. Sometimes as little as one minute!

      If you were promised no fees on the account, I would call them and ask for a supervisor to have that money refunded to you. Is there any chance you can find the paperwork that confirms this? Even if not, I definitely would call and push for it.

      Wishing you all the best,
      Susan

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