r2i forum

I'm R2I-ed and have accounts in Wells Fargo Bank. Been hearing about the Wells Fargo scandal. They have been slapped a $1 Billion fine & bunch of lawsuits. I read an opinion column where some financial analyst basically wrote that customers should close their accounts in Wells Fargo. Is it that bad?

Would love some opinion from financial experts on this forum.

+1 for question and bumping the thread. I have some money in TCS 401K in Wells Fargo should I move it out ?. If one has to move that money what is good option other than Vanguard which one can open with Indian Address ?

Though Buffet and Munger thinks it should be ok http://money.cnn.com/2018/05/05/investing/wells-fargo-warren-buffett-berkshire-meeting/index.html

You can keep it open if you are ok with your bank opening fake accounts and taking customers money.

Got it VS007, Thanks. Now to the second part, what would be a good IRA account other than Vanguard which allow brokerage and does not restrict on funds and stocks selection ?

Fidelity for mutual funds , not sure if they allow stocks

VS007;674135You can keep it open if you are ok with your bank opening fake accounts and taking customers money.

Yeah, see - it is unfortunate that customers suffer because of bad business ethics, which is becoming more common nowadays. These are not easy quick decisions where you can just close accounts and open with other banks. But thanks for your opinion.

Being out of US for quite some time, any thoughts on which are the good banks that also offer some good interest on CDs (FDs). Has anyone tried opening bank accounts from India? I'm a USC, so I believe, it should be possible. But would be good to get some insight before I start calling customer service of banks.

pnq2012;674152Being out of US for quite some time, any thoughts on which are the good banks that also offer some good interest on CDs (FDs). Has anyone tried opening bank accounts from India? I'm a USC, so I believe, it should be possible. But would be good to get some insight before I start calling customer service of banks.

Bank accounts for cash more than 10K you can earn up to 2% . Discover Bank and Capital one savings accounts, Would you keep that much cash in a savings accounts is different discussion.

More issues

"The incident happened in 2017 and early 2018 as Wells Fargo was trying to meet a deadline to comply with a regulatory consent order related to the bank's anti-money-laundering controls, the report said."
https://finance.yahoo.com/news/wells-fargo-employees-altered-business-134929118.html