Wells Fargo Quotes

Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.

Everybody who was involved in that culture [Wells Fargo] should be held accountable.

Wells Fargo's internal review only covers unauthorized accounts dating back to 2011. News reports and court documents suggest these problems might have existed long before then. The 2013 'Los Angeles Times' articles led to the L.A. city attorney's office investigation into Wells Fargo's sales practices.

Wells Fargo had a glitch - the truth of the matter is they made a business judgement that was wrong. I don't think anything is fundamentally wrong.

I learn from all our major competitors, whether they're in or out of the U.S. Wells Fargo is very actively, very aggressively, and very successfully building its U.S. investment bank.

They have a new CEO in Wells Fargo . I don't know much about him. The lady who was involved to some degree in the shenanigans along with the CEO are gone. So I need to see where things stand before we go any farther at this point.

I've always felt there was something wrong with Wells Fargo's culture, for a very, very long time.

It's an unwritten rule that when you move to California and you're an English person, you have to drive a convertible, and you have to bank with Wells Fargo because they have a stage coach on their bank card.

I don't know the extent to which they do business [ in Wells Fargo]. I just want to see how this thing continues to unfold and if they have a legitimately major change in their culture.

A number of former Wells Fargo employees have described their work environment characterized by intense pressure to meet aggressive and unrealistic sales goals. In a 2010 letter to shareholders, Mr. Stumpf wrote that Wells Fargo's goal was eight products per customer because eight rhymed with great.

The constant drip drop of fraudulent activities coming out of Wells Fargo is absolutely outrageous.

I was involved with Wells Fargo Bank as a consultant in the late 1960s and early 1970s, when I suggested to them that they develop a product that has become known as index funds.

They made a mistake. And it was an easy mistake to make. I don't regard setting incentives aggressively as a mistake. I think the mistake was, when the bad news came, they didn't recognize it directly. I don't think that impairs the future of Wells Fargo. They'll be better for it.

The cultural issues, I think, at Wells Fargo went very, very deep. They have to unwind these cultural issues.

Credit card companies and banks usually aren't shy when they're trying to sell you something. Heck, Wells Fargo didn't even bother to ask consumers before signing them up for as many as two million checking and credit card accounts.

Wells Fargo behaves better than the average big bank. But nobody's perfect.