Wells Fargo employees sue over three Billion funds in retirement plans

[RKP5637]

F'en evil empire!!!

http://www.brainerddispatch.com/news/business/4167399-wells-fargo-employees-sue-over-funds-retirement-plans

(Reuters) - Wells Fargo & Co faces a new U.S. lawsuit claiming that it funneled more than $3 billion of employee retirement savings into expensive, underperforming proprietary mutual funds to enrich itself.

The proposed class-action lawsuit, filed on Tuesday in federal court in Minnesota, accused the third-largest U.S. bank of "self-dealing and imprudent investing" by steering 401(k) contributions to its Wells Fargo Dow Jones Target Date funds.

[uponit7771]

1. Fuckin wow WF !!! To even be accused of this is pretty fucked up... They can say all they want that

... there's no merit to it but no one is going to believe WF after the fake account shit.

[RKP5637]

4. What a sleazy company! n/t

[lpbk2713]

2. WF does business the rethuglican way.

Do what ever you want to do until you get caught. Then do your best to alibi your way out.

[RKP5637]

3. Trump probably considers WF a great American company, doing business the way he does, and

how he plans for American businesses to operate, especially after he gets, if he even can, The Dodd-Frank Act repealed.

[Wellstone ruled]

5. Judge Doty will

ring Wells Fargo's neck big time. Ironic as is might seem,Wells merged with Norwest Bank and since, there have been Improper Banking Practice suits one after another. This is going to be a major shake up in the 401k rules after this case.