US Banks More Crooked Than Ever.
What, Dave, are you on this kick yet again? I LIKE my good old, reliable US bank.
Oh yeah? Well I’ve got news for you, major US banks are rotten to the core, and I don’t see that things are getting better, in fact they might even be getting worse.
What Do I Mean By A Major US Bank?
- 0.1 What Do I Mean By A Major US Bank?
- 0.2 How About Wells Fargo? They Are an Historic US Bank of Great Integrity, Right?
- 0.3 And We’re Not Talking About Obscure, Esoteric “Junk Bond” Schemes And Such
- 0.4 Here’s Just a Few Of The Scams Well;s Fargo Allowed Their Employees To Commit … For Years!
- 0.5 But Wait, There’s More.
- 0.6 Well In The US Banking Industry Criminal Charges For Criminal Acts Just Don’t Apply
- 0.7 Talk About a Double Standard
- 0.8 OK, So What Do You Recommend, Dave?
- 0.9 Top 50 Federal Credit Unions by Membership
- 1 Related Posts
- 2 Readers who viewed this page, also viewed:
- 3 Share this Article:
Well recently I just wrote about Citcorp, a huge player in the business, who, among other peccadilloes accepted a settlement(and paid it with YOUR money) of more than 158 million for various crooked actions and practices. Don’t you think a bank of that stature could defend themselves against charges brought by underpaid federal lawyers.
Well, you’d be wrong, it’s cheaper to pay when you know you’re guilty.
How About Wells Fargo? They Are an Historic US Bank of Great Integrity, Right?
Well you might think so, but you might want to read this article first, citing, in detail how Wells Fargo bank was scamming customers for years, until the CFPB put an end to it.
And We’re Not Talking About Obscure, Esoteric “Junk Bond” Schemes And Such
And we’re not talking about mind-boggling “Internet Scammers” and “Nigerian banking fraud here.
We’re talking about legitimate bank employees committing out and out fraud with ordinary, day-to-day clients of the bank, like you and me.
Well, not me, I severed all ties with Wells Fargo years ago, but you know what I mean.
I urge you to read the whole article … and suppress all your possible party oriented political thoughts, the article isn’t really about Elisabeth Warren and any potential future US president, it’s about the US government protecting YOU, the “average Joe” US citizen and taxpayer from rapacious “bankster” fraud.
Here’s Just a Few Of The Scams Well;s Fargo Allowed Their Employees To Commit … For Years!
- Bank employees, on the job during working hours opened credit cards accounts in the name of bank depositors without any permission from the bank’s clients. Ever get a credit card you didn’t apply for?
- Bank employees opened checking accounts in the name of bank customers without their knowledge.
- Bank employees were found to be charging customers for benefits they didn’t receive.
- Bank employees participated in student loan fraud. Maybe you have a student loan debt on your record when you never even sent a kid to college.
- Bank employees participated in schemes that take advantage of the elderly
But Wait, There’s More.
Sad and sickening that all these facts may be, the part that really disturbs me the most (and it should disturb you as well), is that not a single criminal charge has been filed.
The senior executives who presided over this shameful crime spree for, in some cases as long as five years) are still holding their jobs and collecting huge “performance bonuses” every year.
The more than five thousand! bank employees who actually committed the acts have been fired. Excuse me?
If you hired me to be your bookkeeper and handle you personal banking, and I committed acts of fraud like this,would you just fires me? Or file criminal charges in response to my criminal acts? If you didn’t file charges, you’d be crazy IMO.
Well In The US Banking Industry Criminal Charges For Criminal Acts Just Don’t Apply
The bank itself pays a huge fine … which they recover by raising service charges, late fees and other licensed theft, so in reality, they don’t pay anything.
And the employees who actually committed the acts lose their low-pay jobs, keep all the income they earned and any that they stole, and go happily on their way.
Talk About a Double Standard
If you walked into a Wells Fargo branch and handed the teller a note demanding the money in their cash drawer, assuming you even made it out of the bank, you’d get caught and likely go to jail for several years. You’d have a felony on your record too. And rightly so. Robbery is a crime.
But if you were a Wells Fargo teller and opened a phony checking account if you name, possibly using it for money laundering or other nefarious purposes then you might lose your job? And that’s it? No charges? No criminal history? Able to walk right into any other financial institution and get a job involving a position of trust?
There’s no “justice” at all in the American Justice System any more, from what I can see. “Banksters” are exempt from the law.
OK, So What Do You Recommend, Dave?
Well if you have money coming in every month from pensions, investments or other sources as I do, you need some sort of baking service in the USA to receive the funds, gve you a checking account, send you money when you need it, etc,
I recommend you move your US baking activities to a Federal Credit Union. Credit inions operate under a much more conservative set of laws than do commercial banks, and typically they are owned by their depositors (often called “members, because that’s what they are).
No system is perfect, but Federal credit Unions are far and away safer and less crooked than major commercial US banks. Here’s the top fifty, there are thousands of others. Pick one and use it.
Top 50 Federal Credit Unions by Membership
1. Navy Federal Credit Union, Vienna, VA. 4,786,101 members.
2. State Employees Credit Union, Raleigh, NC. 1,895,183 members.
3. Pentagon Federal Credit Union, Alexandria, VA. 1,295,220 members.
4. Security Service Federal Credit Union, San Antonio, TX. 970,947 members. (This is my mine by the way, recommended)
5. Boeing Employees Credit Union, Tukwila, WA. 857,870 members.
6. The Golden 1 Credit Union, Sacramento, CA. 667,674 members.
7. America First Federal Credit Union, Riverdale, UT. 647,612 members.
8. SchoolsFirst Federal Credit Union, Santa Ana, CA. 595,275 members.
9. Suncoast Credit Union, Tampa, FL. 578,572 members.
10. Alaska USA Federal Credit Union, Anchorage, AK. 497,147 members.
11. Randolph-Brooks Federal Credit Union, Universal City, TX. 470,565 members.
12. Mountain America Federal Credit Union, West Jordan, UT. 461,364 members.
13. Vystar Credit Union, Jacksonville, FL. 453,051 members.
14. Digital Federal Credit Union, Marlborough, MA. 429,021 members.
15. Pennsylvania State Employees Credit Union, Harrisburg, PA. 416,512 members.
16. First Technology Federal Credit Union, Mountain View, CA. 370,449 members.
17. Redstone Federal Credit Union, Huntsville, AL. 369,221 members.
18. Municipal Credit Union, New York, NY. 366,518 members.
19. ESL Federal Credit Union, Rochester, NY. 324,692 members.
20. GECU Credit Union, El Paso, TX. 314,019 members.
21. Desert Schools Federal Credit Union, Phoenix, AZ. 308,195 members.
22. State Employees Federal Credit Union, Albany, NY. 303,696 members.
23. Citizens Equity First Credit Union, Peoria, IL. 300,616 members.
24. Delta Community Credit Union, Atlanta, GA. 296,131 members.
25. Tinker Federal Credit Union, Oklahoma City, OK. 292,911 members.
26. Space Coast Credit Union, Melbourne, FL. 288,850 members.
27. Hudson Valley Federal Credit Union, Poughkeepsie, NY. 283,788 members.
28. Alliant Credit Union, Chicago, IL. 282,453 members.
29. Patelco Credit Union, Pleasanton, CA. 279,311 members.
30. Wright-Patt Credit Union, Fairborn, OH. 275,053 members.
31. Onpoint Community Credit Union, Portland, OR. 265,489 members.
32. San Diego County Credit Union, San Diego, CA. 264,256 members.
33. Kinecta Federal Credit Union, Manhattan Beach, CA. 262,959 members.
34. Members 1st Federal Credit Union, Mechanicsburg, PA. 262,088 members.
35. Teachers Credit Union, South Bend, IN. 258,026 members.
36. San Antonio Federal Credit Union, San Antonio, TX. 250,671 members.
37. Local Government Federal Credit Union, Raleigh, NC. 240,965 members.
38. Teachers Federal Credit Union, Smithtown, NY. 237,902 members.
39. Bethpage Federal Credit Union, Bethpage, NY. 237,115 members.
40. American Airlines Federal Credit Union, Fort Worth, TX. 236,234 members.
41. Ent Federal Credit Union, Colorado Springs, CO. 234,716 members.
42. Landmark Credit Union, New Berlin, WI. 233,858 members.
43. Virginia Credit Union, Richmond, VA. 232,855 members.
44. First Community Credit Union, Chesterfield, MO. 232,629 members.
45. State Employees Credit Union of Maryland, Linthicum, MD. 230,430 members.
46. Bellco Credit Union, Greenwood Villa, CO. 229,981 members.
47. Educational Employees Credit Union, Fresno, CA. 227,145 members.
48. Lake Michigan Credit Union, Grand Rapids, MI. 224,646 members.
49. Police & Fire Federal Credit Union, Philadelphia, PA. 221,223 members.
50. GTE Federal Credit Union, Tampa, FL. 216,842 members.
Whatever you decide, remember that US banks More Crooked Than Ever.