For all his Bitcoin-bashing bluster, Berkshire Hathaway’s Warren Buffett is hardly a bastion of business virtue. He continues to defend BH investment Wells Fargo bank, despite almost $15 billion in penalty fines since 2000. 


You Make One Mistake…

Wells Fargo got caught doing bad things. Lots and lots of very bad things. To meet quotas set by management, employees opened fake accounts, ordered unauthorized credit-cards, and forged client signatures — and this wasn’t just a few rogue staff members. Thousands of employees opened 3.5 million unnecessary accounts over a decade and a half. Management later admitted retaliation against employees who threatened to expose the scandal.

While the fallout from this was still ongoing, Wells Fargo admitted charging over half a million customers for auto-insurance they didn’t need. This led to around 20,000 customers defaulting on car loans and the illegal repossession of some vehicles.

Not content with this, the bank also modified mortgages without authorization and fined 110,000…

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Source: https://thebitcoinnews.com/buffetts-wells-fargo-fined-over-20-of-bitcoins-market-cap-since-2000/