Friday, October 2, 2009
Just when I thought the NFL lying about bank injuries might win Corporate Scumbag of the Week, now comes the news that Wells Fargo pockets the difference when customers make small math errors on ATM transactions.
Do they let people keep the money if they make a small math error in the other direction?
Hypothetical question asker, please don't be so naive.
You might think that Matty Boy, extremely mathy guy, is reporting on this just to look out for the little guy. Well, first off, I don't bank at Wells Fargo, though I used to many years ago, so this doesn't effect me directly, unless Chase does the same thing. (It might, for all I know.) But I do more math by hand than most people since I'm at the board for hours every day, so I probably make more math total errors than the average person, though I hope I make a lower percentage of math errors than the man on the street.
Consumer protection shouldn't be a politically charged topic, but sadly, it is. Instead of the attitude being that we need to fix this, those who are getting paid by the financial service industry to look the other way put up distractions or just simply refuse to act. Yes, Republicans protect these scumbags, but Democrats do, too.
Call your congresscritter. Don't take no for an answer.