Wells Fargo Scandal: 5 Things you Need to Know!
Wells Fargo Scandal: 5 Thing you Need to Know! Subscribe http://goo.gl/Q2kKrD Employees of the Giant US Bank Wells Fargo spent years setting up fake ...
Thousands of Wells Fargo employees caught setting up fake account and credit cards
The world's largest bank has been hit with a historic $185 million in fines.
Loans For Wells Fargo Employees
Generally, an employer is free to make loans to employees for any purpose, and low cost or interest-free loans are commonly offered as an employee benefit. However, issues may arise if a company lends money to enable employees to acquire shares in that company or a group company.
A payroll loan is a cash advance that is given to a borrower based on their employment status and income. A payroll loan is also known as a payday loan because the amount of the loan is typically scheduled for repayment upon getting paid by an employer.
The funds do need to be repaid. So the applicant will need to pay back FEEA through a recurring, weekly or monthly payroll allotment. While the length and terms of that schedule will vary, but regardless, the loans will be repaid a little at a time, each and every month. Clients normally get 10 months at most to repay the funds, with money withdrawn from each paycheck over that period of time.
Investment products and services are offered through Wells Fargo Advisors. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC (WFCS) and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
To be eligible for the Wells Fargo Team Member Mortgage Program benefits, you must be an active Wells Fargo full-time or part-time employee, or retiree. Valid for new purchase or refinance mortgage loan applications taken through the Wells Fargo Team Member Mortgage Program, subject to loan program availability.
Wells Fargo expected employees to obtain clients to originate new loans. The sales compensation was reasonable up to the 2009. After 2009 Wells Fargo compensation did not match the federal government changes to reflect and match the compensation.
Full Review. Wells Fargo refers to its student loan refinancing product as private consolidation. By either name, it means replacing one or more student loans with a single lower-rate loan.
Attracting talent and retaining valued employees are high priorities at any successful business. At your request, your relationship manager can introduce you to Wells Fargo specialists to help you review and potentially enhance your employee benefits programs and offerings.