Wells Fargo running car theft ring.

Yet not a single person involved will go to jail.   When will this shit stop?

Wells Fargo illegally seizes soldier's car: 'I just think it sucks'

Dennis Singleton was a soldier preparing to go to Afghanistan in 2013 when he found out from his former wife that Wells Fargo had repossessed their car in North Carolina.

"I said, 'Hey, they can't do that!'" he recalled, in an interview with CNNMoney.

He was right. They can't do that. It's against the law. But they did it anyway.

Singleton, who serves in the North Carolina National Guard, is one of many service members whose cars were illegally repossessed by Wells Fargo (WFC), according to the Department of Justice.

Active-duty members of the military cannot have their cars repossessed without a court order, according to the DOJ, which just charged Wells Fargo with illegally repossessing 413 vehicles from members of the U.S. military.

The DOJ imposed a $24 million fine on the company for its mistreatment of military members, including $4.1 million to settle charges that it seized the cars. But Singleton never got his car back -- it was sold at auction in 2013 -- and has not received any financial compensation.

When he got back to the U.S., he used his savings to buy a new car. Not only did he lose money; he's worried about his credit.

"It's going against my credit," he said. "Honestly, I just think it sucks."

Wells Fargo sent a statement to CNNMoney saying the bank was "truly sorry."

 

"As part of our remediation process, we attempted to contact Mr. Singleton but have not heard back from him," Wells Fargo said. "It is absolutely a priority of ours to reach him and we'll continue our efforts to do so in order to make this right for him and his family."

But in its suit, the DOJ says that Singleton's attorney tried to reach Wells Fargo and never heard back.

Singleton also served in the Iraq War from 2008 to 2010 and responded to the Charlotte riotsearlier this month as a military police officer with the National Guard.

"I'd rather not do it again," he said about the Charlotte riots.

For his civilian job, he drives a truck for FedEx (FDX) in Morganton. After he divorced and remarried, he bought a house under his new wife's name because of what Wells Fargo did to his credit.

Singleton wants to get his credit restored, but he said, "I heard it takes an act of God."

Or it might just take an act of the federal government. The DOJ says Wells Fargo is required to restore the credit rating of all victimized service members. The bank is also required to pay them each $10,000, "plus any lost equity in the vehicle with interest." Singleton had paid more than $20,000 for his car.

Payments to victims started going out last month, according to the DOJ, but some service members have been difficult to track down, so not all of them have received checks.

Singleton said he was "grateful" the DOJ and the military legal aid, known as the Judge Advocate General's Corps, "did what they said they were going to do."

"I honestly thought they had forgot and I fell through the cracks," he said. "It's finally coming around."

Wells Fargo, which declined to comment on this story, is already reeling from the scandal over fake accounts. More than 5,000 employees have been fired for setting up millions of fake accounts, and the company is also accused of retaliating against whistle blowers.

Those fuckers stole 413 cars.  If anyone else was running a racket in which 413 cars were stolen, what would happen to them?

How many years in jail would someone get for stealing 413 cars?

Kindly old "good guy" investor Warren Buffet owns 10% of the company.

Sandy Pantz - Kindly old "good guy" investor Warren Buffet owns 10% of the company.


He's probably not involved in the day to day operations though.  Whoever is running the show should be locked up under RICO and racketeering statutes.  And the guys who actually stole the cars should be locked up for grand theft auto.  



Seriously, if you were a small business owner and your business stole 413 cars, what would happen to you?

angryinch -


Those fuckers stole 413 cars.  If anyone else was running a racket in which 413 cars were stolen, what would happen to them?



How many years in jail would someone get for stealing 413 cars?

These banker shitheads are untouchable. Phone Post 3.0

angryinch - 
Sandy Pantz - Kindly old "good guy" investor Warren Buffet owns 10% of the company.


He's probably not involved in the day to day operations though.  Whoever is running the show should be locked up under RICO and racketeering statutes.  And the guys who actually stole the cars should be locked up for grand theft auto.  



Seriously, if you were a small business owner and your business stole 413 cars, what would happen to you?


Well I'd be in jail since I don't have money, power, friends in high places, or bribes given.

As for Wells Fargo, well I think we all know what will happen there...

Wells Fargo paid Bill Clinton $200,000 for an Oct. 13, 2011, appearance in New York.


http://www.charlotteobserver.com/news/business/banking/bank-watch-blog/article65533957.html

Why is this only a law for military members?

"American's treat their soldiers pretty poorly. Gross double standard that is super apparent on the OG."

If by Americans you mean phoney politicians then yes. Phone Post 3.0

Mohammed - Lol ... You will see more outrage because someone takes a knee during the anthem (while they sit on their ass at home), than the outrage that is this case.

People trip out on the anthem thing and get patriotic hard-ons, but American's treat their soldiers pretty poorly. Gross double standard that is super apparent on the OG.
Americans? You mean wells fargo?
Fuck, you're dumb. Phone Post 3.0

I'm kinda indifferent on this one. Sounds like the guy stopped making his car payments while deployed. If he were single, that's far more understandable. But this guy was married. His wife should have been taking care of it and wasnt. I'm all for the long arm of the law breaking one off in the ass of bankers who are caught doing unethical shit, but in this case I'm not all that outraged. Sounds more like they were trying to get the money they were rightfully owed, bit just made a mistake in the process. No malicious intent or attempt to take advantage of someone. Phone Post 3.0

Dumb law

I dont get how corporations are ppl and entitled to free speech but when these same coprorations break the law they dont go to jail. Shoulodn't the CEO be charged?

gregbrady - 

I dont get how corporations are ppl and entitled to free speech but when these same coprorations break the law they dont go to jail. Shoulodn't the CEO be charged?



The CEO should be charged under RICO statutes.  The lackeys who towed the cars should be charged with auto theft. 

jimmy23 - If he didn't pay his notes, it makes sense that they would take the car.

Or am I missing something? Phone Post 3.0
I'm with you in that sense, but being that it's against the law for the bank to repo cars of active duty soldiers, the bank is clearly in the wrong here. Phone Post 3.0

Kirkifan1 -
jimmy23 - If he didn't pay his notes, it makes sense that they would take the car.

Or am I missing something? Phone Post 3.0
Active duty military can't be Repo'd (w/out court order). I think the idea is they can't control when they leave the country, for example. Phone Post 3.0
I believe its that they actually need to be deployed.

Im guessing some of this is the service men and women not informing the bank they were getting deployed and the bank not making it clear enough that they need that notification. Phone Post 3.0

The Noose - I'm kinda indifferent on this one. Sounds like the guy stopped making his car payments while deployed. If he were single, that's far more understandable. But this guy was married. His wife should have been taking care of it and wasnt. I'm all for the long arm of the law breaking one off in the ass of bankers who are caught doing unethical shit, but in this case I'm not all that outraged. Sounds more like they were trying to get the money they were rightfully owed, bit just made a mistake in the process. No malicious intent or attempt to take advantage of someone. Phone Post 3.0
This. Pay the damn car note and the car won't get repo'd. Funny how that works. Phone Post 3.0

EmmettHollis - 
The Noose - I'm kinda indifferent on this one. Sounds like the guy stopped making his car payments while deployed. If he were single, that's far more understandable. But this guy was married. His wife should have been taking care of it and wasnt. I'm all for the long arm of the law breaking one off in the ass of bankers who are caught doing unethical shit, but in this case I'm not all that outraged. Sounds more like they were trying to get the money they were rightfully owed, bit just made a mistake in the process. No malicious intent or attempt to take advantage of someone. Phone Post 3.0
This. Pay the damn car note and the car won't get repo'd. Funny how that works. Phone Post 3.0


I can imagine it might be just a wee bit tough when you're in the middle of a desert getting shot at and rockets launched at you by Taliban fighters to take a minute, fire up your laptop, find a Starbucks with an open wifi connection, log in to your bank, and start paying bills.  



Hell, do they even have Starbucks in the middle of the desert in Assfuckistan or wherever?  

LOL, I still have 401k funds invested in Wells from my tenure with a bank they bought.

I keep forgetting to call and move those funds. I wonder how much this will cost me....FML.

Thage - LOL, I still have 401k funds invested in Wells from my tenure with a bank they bought.

I keep forgetting to call and move those funds. I wonder how much this will cost me....FML.
Shouldnt cost anything. Phone Post 3.0