Charlotte Talks: New Troubles At Wells Fargo As The Bank Tries To Repair A Tarnished Reputation
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.
Deon Roberts, business reporter for The Charlotte Observer