Corporate reform means jail time for cheaters
To the editor:
Regarding Wednesday's editorial on the Wells Fargo bank scam ("Wells Fargo deceit fuels cynicism"), I hope that something is being done to address the victims of the Wells Fargo fraud.
I can attest to how difficult it is to get erroneous information off a credit bureau file. So I can imagine what havoc the Wells Fargo fraud victims have gone through to correct their credit reports.
First and foremost, Wells Fargo must clear all negative credit bureau reporting for late fees, balances, and so on that have afflicted victims of the bank's scam. Additionally the bank must reimburse all those who were charged bogus fees to the tune of $1.5 million.
Second, the CEO of Well Fargo, John Stumpf, must be charged and sentenced to jail time along with all employees who forged victims' signatures. Employees are not guilt free because their boss pressures them to commit a crime.
Until we hold financial institutions,their executives, and employees accountable to the same laws to which the general citizen is held accountable, we will not see the end to their greed and scamming. In the fallout is the ruin of innocent people's financial lives.
Eileen Forster, Great Barrington