Wells Fargo Cards

Wells Fargo is certainly a high flying corporation in the world of finance. And since it operates in many countries, a lot of people are affected by the activities of the bank. Anyone who ever took a mortgage from a bank is well aware of the risks. One of the wider dangers would be failing to pay back the mortgage and as a consequence the bank would take over your property; this is called a foreclosure. A majority of people have lost their properties to Wells Fargo in the shape of foreclosures. But the question remains whether that is an ethical business step.

Due to the high interest rates exacted by the bank, it becomes difficult for anyone to promptly pay back a mortgage, which almost always leads to a foreclosure. Since Wells Fargo is a big business that makes big profits, it might as well lower the interest rates in order that common men may feel unthreatened to take a mortgage, or even go the extra mile and do away with foreclosure. When a bank takes over someone’s house, it comes out in bad light. For some bizarre reason, Wells Fargo does seem to have a reputation for this.

It makes one wonder whether at the core of the bank there are swindlers looking for opportunities to separate you from your property. Customers ought to be shielded from sly men out to make a buck. Cases have come up of mortgage documents getting doctored in order to twist facts. As a result, innocent customers walk into traps, only to emerge with scars. Perhaps it would be a whole lot good if the foreclosures were altogether done away with. It seems that even documents could be forged to indicate what’s not accurate. This means that a customer may be tricked out of their property. Another sly method of the Wells Fargo is lending to minority, well aware that their ability to pay back is down, and in case they should default, then the foreclosures will be upon them.

Although we say that business survival is based on wits, it shouldn’t get to the point of unethical practices, and the foreclosures exacted by Wells Fargo are a perfect example. The banks should be at a position to make the lives of the people easier rather that to make them stressed out. Therefore, foreclosures need to stop, because they are designed to make the victim helpless.

Leave a Reply

Your email address will not be published. Required fields are marked *