Bank Decides They Are Done Helping People Affected by COVID-19 + Wells Fargo Sued For Trying to be (Stupidly) Helpful!

One of the great things about TNB is that I get emails and info from dozens of disenfranchised workers at all major banks telling me their horror stories, and urging me to keep up the good work.

 A very concerned Bank of America employee back east sent me information in regards to the Coronavirus Assistance Plan that Bank of America rolled out in March to help those impacted by illness, job loss or anything tied to COVID. That included loan deferments, fee refunds, and much more. I praised the effort, but questioned "HOW" they would help because of 5 hour phone holds and branches closed.

Well, according to the info from the employee on Monday, The Virus is cured, because Bank of America is doing away with courtesy refunds for Virus relief. Bank of America is requiring all employees submit refund requests into their normal system, and the "System" can approve refunds on a case-by-case basis... Basically, if you never overdrafted before, and you have money...lots of it... you'll get help.

I discuss a past instance where Christy, an ex-manager of Bank of America (my old boss who actually fired me) would make us document "Hardship" requests in a binder, including asking customers for personal information about their illness/death in family to write into the binder to justify our fee refund request.

You will also hear an impassioned James discuss the need for these assistance items still, and how BofA is short-sighted in stopping an important way to help people. 

YOU ALSO WILL HEAR SOME CRINGEWORTHY ROLEPLAY OF WHAT IT WOULD SOUND LIKE WHEN A BANKER DENIES A REFUND TO YOU, AS MODELED BY THE TALKING POINTS OF THE EMAIL I VIEWED. EVEN I GOT MYSELF SICK DOING THEM!

Plus, Another segment of "Hey, What about Us?" where I discuss another big banks issue that was in the news. Wells Fargo got into some hot water a couple months ago when people found they were placed into forbearance on their loans, despite not requesting it. Wells claimed it was proactively helping people to avoid delays (sure). Now, people are suing, and I discuss why and how it seems like Wells Fargo's alleged "help" and big banks in general always seem to help in such a way that makes no sense, likening it to a little kid trying to help you cook

Lawsuit article here

NBC Report on the "Never-asked-for" forbearance!

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