Arts Lovers: You May Not Want Wells Fargo As Your Bank

Wells Fargo thought they were being cute. A new series of ads — promoting “teen financial education day” — showed (of course) happy young people.

One headline read: “A ballerina yesterday. An engineer today.”

Another: “An actor yesterday. A botanist today.”

The idea — that to become successful one should jettison the arts, and focus on something much more STEM-related — was not cute. It was idiotic.

Josh Groban, Anthony Rapp, and tons more folks — famous and not — pounced, on social media.

Almost as quickly, Wells Fargo apologized. The company said they were “deeply committed to the arts,” admitting that ads intended to “celebrate all the aspirations of young people…fell short of that goal.”

No word on whether the Post Road branch plans to make a nice contribution to the Westport Arts Center.

The Wells Fargo Westport branch.

The Wells Fargo Westport branch.

FUN FACT: There’s another area connection to this story. Remember the “Wells Fargo Wagon” song in “The Music Man”? That show is Staples Players’ fall production. Enjoy!

(Hat tip: Lee Scharfstein)

7 responses to “Arts Lovers: You May Not Want Wells Fargo As Your Bank

  1. I think it is more important to note that Wells Fargo was caught in a massive fraud scheme of creating millions of phony bank accounts. Then charging their customers fees on these non existent accounts. Over 5,000 employees were fired over the last few years as a result of this scheme. Nice Bank!

  2. At this point, I question the cultural climate/integrity of Wells Fargo.
    http://www.zerohedge.com/news/2016-09-08/wells-fargo-fires-5300-engaging-massive-fraud-creating-over-2-million-fake-accounts

  3. When someone/organization first shows you who they are, believe them. It’s all about the dollar when it all comes down to it.

    As a parent of a adult child in the arts, I’m changing banks – have wanted to for years. Good info – hadn’t seen this ad. This may explain some some strange experiences with my accounts over the years. Things got straightened out and bank corrected errors that they acknowledged were theirs such as checks not mine charged to my account from another bank. I asked them to investigate if it could have been an employee(s) which I always suspected. They said they would and get back which they never did. However, the bizarre activity abruptly stopped in one of my accounts.

  4. The fake account scam illustrates a national problem that’s also as local as those 20+ bank branches in Westport. The man or woman handling your cash, account and social security numbers earns about the same as a burger-flipper at McDonalds — e.g. $12/hr starting wage or about $24,000/yr.

    In their desperation to meet living expenses, these low-wage workers rely on a bunch of incentives such a a spiff for each new account opened.

    If you Google further, you’ll also find there have been numerous instances of bank employees actually stealing client’s money — including recently at a bunch of Chase branches in New York.

    There was a time when the low entry wage for tellers came with lifetime employment, a path upward through the ranks, and pensions. Also at the typical bank, the President was a thrifty middle class guy in a small office upstairs who ate sandwiches with the tellers in the lunchroom.

    Today, that’s all gone, and banks are essentially sweatshops where very low-wage workers toil with little to show for it, and top executives take home millions and live celebrity lifestyles.

  5. Wells Fargo the worst on earth,nasty employees bad business practices.

  6. Calm your pants Westport , I do have family in the ”Arts” and its commendable, but unless you make ” it” as an artist …………. you struggle like the rest of us .
    Wells Fargo started the banking in the USA , show some respect !!

  7. Sharon Paulsen

    Hmmm, my mortgage is with Wells. Wonder if mortgage accounts were also affected. Anyone know?

    I’ll have to check into it, of course, but wondering what others might have heard of or experienced too.