Wells Fargo Bank Confesses Homes Have Wrongly Been Placed Into Foreclosure Due To A Computer Glitch

Wells Fargo Bank Embroiled In Another Scandal 

August 8. 2018

Wells Fargo

This week Wells Fargo bank in America was forced to admit that at least 400 homes belonging to their customers were wrongly placed in foreclosure. The issue is being blamed on a computer glitch. The issue has furthered eroded public trust in the company and banking system in general. Other large banks engaged in similar practices (Washington Mutual), wrongly placing valuable homes into foreclosure, which were then scooped up by bank executives, their relatives, other wealthy customers or business associates, resulting in lawsuits being filed by customers.

I have been warning online for YEARS (since 2008) that bank computer systems have been fraudulently placing homes into foreclosure, due to the fact I experienced it twice due to criminal hacking by a sick Hollywood cult, whose private investigator I was interviewed about twice by the FBI, due to his sick conduct, such as having three hackers on staff for round the clock hacking in 8-hour shifts.

Here's where I warned about it most recently in 2016 (Obama Administration Wastes Huge Sums Of American Taxpayer Money Breaking The Law In America, Britain And Jamaica On Behalf Of Madonna's Kabbalah Center In Committing Egregious Human Rights Abuses).

Previously, Wells Fargo was embroiled in a national scandal in America, after news hit the press that bank employees were opening secondary accounts and credit cards using customers' preexisting account information, in order to gain greater commissions and misappropriate money. The bank was also slammed in another scandal for hitting customers with "unfair mortgage fees" and extra insurance they did not need.

STORY SOURCE

Wells Fargo says hundreds of customers lost homes after computer glitch

August 5, 2018: 10:06 AM ET These companies are trying to win back your trust. Hundreds of people had their homes foreclosed on after software used by Wells Fargo incorrectly denied them mortgage modifications. The embattled bank revealed the issue in a regulatory filing this week and said it has set aside $8 million to compensate customers affected by the glitch.
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The same filing also disclosed that Wells Fargo (WFC) is facing "formal or informal inquiries or investigations" from unnamed government agencies over how the company purchased federal low-income housing tax credits. The document states the probes are linked to "the financing of low income housing developments," but does not offer further details...

Earlier this week, the Justice Department announced Wells Fargo agreed to pay a $2.1 billion fine for issuing mortgage loans it knew contained incorrect income information. The government said the loans contributed to the 2008 financial crisis that crippled the global economy.

In June, Wells Fargo was accused by the federal Securities and Exchange Commission of using complex financial investments to take advantage of mom-and-pop investors. Wells Fargo, which neither admitted nor denied the SEC's allegations, said at the time it "cooperated fully" with the SEC probe.

One of its most far-reaching scandals involved the creation of millions of fake accounts the company created for unsuspecting customers in order to boost its sales figures. The scope of that issue ballooned since the practice was first uncovered in September of 2016. The bank has also admitted to hitting customers with unfair mortgage fees and charging people for car insurance they didn't need.

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