Please, this is a chance to make a real difference with regard to the way Wells Fargo Auto Finance does business. I spoke with a Wells Fargo Rep this morning, and tried to make arrangements to bring my account current (I am behind a payment, like millions of Americans, I had lost my job, and only just recently got a new one). I informed her that I could make the current past due payment on Monday, and she flatly refused to accept any payment.
After having spoken to 3 different reps at the company, the best they would do is say that they wont accept the past due payment in full on Monday, and wished me good luck (I do have audio recording of this conversation).
Following the conversation, I contacted the Consumer Affairs reporter at one of the local network affiliates here in Columbus Ohio, explained the situation, and played him the audio from the call. After explaining to him what had transpired, and pointing out that Wells Fargo Bank had already received $25,000, 000,000.00 (that is $25 Billion) in bailout money from taxpayers, and explaining the lending practices, interest rates, etc. He has expressed a strong interest in doing a story on them.
I will be meeting with him next Wednesday to discuss what they are doing, and he thinks that they can be brought under fire for what they are doing. He feels that an expose on their practices can have a serious impact on what they are doing, and that the story of what they are doing does have a potential for full network coverage, if enough examples can be provided for what they are doing, it would be a great help.
Even if this doesn't stop them, in our local market, which is very substantial, it will put pressure on dealerships to stop using Wells Fargo Auto Finance, as well as other preditory lenders, as a source of financing, at least in the local market in Central Ohio. This is a large market, and if the only way to hit a company like this is in the pocket, this should do it.
I am asking for your stories regarding Wells Fargo Auto Finance in particular since they are tied with 2 other banks that have recieved more Federal Tax Dollars for "Bailout" than anyone else, and are engaging in the exact same practices that have helped lead to the current financial problems here in America.
This is a real chance to change them. Please, send your stories to [email protected]
I will review and submit them to the reporter during our meeting next week, and will send out responses to all with regard to the story and its' progression.
I will be posting this to every board I can find, and should you stumble across one that does not have it, feel free to post it there until May 5th (I need time to get everything together before my meeting).
Thank you
Jefferey W
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