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Charlotte Talks: New Troubles At Wells Fargo As The Bank Tries To Repair A Tarnished Reputation

Wells Fargo sign at a bank branch
Flickr / Mike Mozart

Thursday, August 9, 2018

Wells Fargo is in trouble - again. This time, bank miscalculations result in 400 people losing their homes to foreclosure. Charlotte Observer business reporter Deon Roberts joins Mike Collins to share the details.

More troubles in the news for Wells Fargo. The bank is apologizing again to customers, this time for a calculation error that lead to about 400 people losing their homes to foreclosure. The problem came to light in recent days as a result of an internal review, but affected customers who were in the foreclosure process between April 2010 and October 2015. The bank is blaming the problem on computer software

This is just the latest revelation of ongoing problems at the bank that started with a sales scandal in 2016. What is Wells Fargo doing to make it right, and what does this latest problem mean for a bank that continues to work on repairing a tarnished reputation? We'll find out from a reporter who's been covering it all.

Guest

Deon Roberts, business reporter for The Charlotte Observer

Erin Keever is Senior Producer of WFAE's Charlotte Talks with Mike Collins. She has been with the show since joining the station in 2006. She's a native Charlottean.