Wells Fargo reviews

All the rah rah from overhead. I had a serious moral impediment with what the business that this company did. I understand the risk inherent with some of the clients but the company seemed to want to charge outrageous interest rates to clients that qualified for the best rate going at any other institution. Further, they tried to leverage the employee's relationship with the client and the perception that the employee is a "trusted advisor" to coerce quality borrowers to make dumb borrowing decisions. When I tried to explain to management how this doesn't make financial sense (usually with a NPV calculation) they would respond that "we need to let the customer make the decision". This is why I left the company.

Repetitiveness; not really being able to take on new challenges, questionable management. Dissatisfaction with the way they handled a very important personal situation. There is a huge conflict of interest within the entire company. "Financial" is the consumer finance division of Wells, their primary product is sub-prime refinancial/lending. However the consumer finance division also offers auto secured lending and unsecured lines of credit. The problem is Financial offers higher rates on the secured and unsecured lending products, you solicit these products to existing Wells customer to offer diversified products, but some if not most these existing customers have similar products already at much much lower rates. So how can the same company offer similar products, to existing consumers, at a higher cost?! How would take a line of credit from Financial @ 18%-24%, when they can call the Wells Bank in South Dakota via phone, or internet and obtain the same product for a 4-13% rate? You competing for consumers within the same parent company which the biggest competitor ironically!