It keeps getting better for Wells Fargo
First, there are laws that protect service men and women who have been deployed. There are certain things financial institutions can not do. For example, you can't repossess the car of a member of the armed forces who is behind on faces but has been deployed. Apparently, Wells Fargo may not have gotten the message.
413 repos over 7 years is not a huge number in the scheme of things, and it is possible, I suppose, that this was not intentional. But, who cares? And, is anyone inclined to give Wells the benefit of the doubt? I'm sure not.
Congress also seems really pissed off that Wells may have retaliated against whistle blowers.
The last line of that article: The lawmaker also suggested Wells Fargo could be prosecuted under the Racketeer Influenced and Corrupt Organizations Act, the statute known as RICO that has been applied against FIFA as well as members of the Mafia.
I've been saying this since the story broke. This is racketeering. There should be criminal charges filed against their executives, the same way they did against the heads of the mafia.
I'll be legitimately shocked if anyone in government actually pushes for criminal prosecutions for their executives, but the anger over this is mounting. Past scandals were much easier to sweep under the rug because the crimes were not only difficult for the average person to understand, but how ordinary people were impacted was a lot more opaque. Even though this event impacted far fewer people than, say, the LIBOR scandal (which impacted tens of millions), the direct impact is much more easily understood. The public anger may actually sustain this time.
We will see.