![The answer is in Wikipedia => Wells Fargo => President & CEO => Charles Scharf => Early Life => Every Single Time [597x407 - 48KB]](https://pic8.co/sh/2WDrlb.png){kind=link}
Scumbaggery at its finest by Wells Fargo. Protect yourself by never ever ever ever ever keeping all your money with one bank. Always have backup plans...which includes having cash on hand.
They have been pulling that shit since at least the 70's
or chase or BOA are all skummiest banks, local owned credit unions are the way to go but careful, not insured so you may want if available your own insurance to protect the balance or get a safe and invest in local businesses directly.
Agree on credit unions (I use 2 local ones). The insurance question depends on the credit union. All federal credit unions and many state-chartered credit unions are federally insured by the National Credit Union Association. Some state-chartered credit unions cover themselves by private deposit insurance. You have to do your research.
My info is from memory 20 years in the past, no fdic insurance for them back then. I'm not sure of that knowledge since it was word of mouth back then when I was less internet savy.
I do also think community investment with good people that have a decent business like a small store when covid, Walmart is the only other option then the small in town stores that don't have high prices are great investments if they are family owned and you know the family is a great insurance for your town.
Also one that uses local good family farms for a lot of their stock is also a great place to invest to make sure the farm is there for you when the times of less food hit then your town has a supply of some food at least.
(post is archived)