Wells Fargo Hit with $1B in Fines

Re:Wells Fargo Hit with $1B in Fines by kevin_thibedeau on Friday April 20, 2018 @02:38PM (#16887381)

Capitol One has one of the largest advertising budgets at > $1.5B. Seems a bit insane to support an organization that is willing to send so much revenue out the door when a good chunk of it could be recaptured by its customers.

[ Parent | on HN ]

Re:Wells Fargo Hit with $1B in Fines by komali2 on Friday April 20, 2018 @03:24PM (#16887760)

Warning: anecdotal.

My friend is a recent employee of Capital One via the Paribus acquisition, and he has quoted his CTO as saying "We're not a bank, we're a technology company."

I don't bank with them so I can't comment on their offerings, but his insider perspective indicates that they're taking technology seriously (hence acquisitions like Paribus).

[ Parent | on HN ]

Re:Wells Fargo Hit with $1B in Fines by streptomycin on Friday April 20, 2018 @11:51PM (#16889898)

Every big old enterprise company loves saying things like "we're a technology company".

[ Parent | on HN ]

Re:Wells Fargo Hit with $1B in Fines by icebraining on Friday April 20, 2018 @07:36PM (#16889162)

Seems weird to base your decision on how they spend their money. Isn't how much they actual charge you what matters, rather than what they use it for?

[ Parent | on HN ]

Re:Wells Fargo Hit with $1B in Fines by lukeschlather on Friday April 20, 2018 @02:48PM (#16887456)

$1.5 billion in marketing on $30 billion in revenue doesn't seem that outlandish. Maybe it is for a bank.

[ Parent | on HN ]

Re:Wells Fargo Hit with $1B in Fines by gascan on Friday April 20, 2018 @02:41PM (#16887401)

If it matters, Capital One 360 is, or at least was, the old ING Direct USA. The whole division was acquired by Capital One.

[ Parent | on HN ]

Re:Wells Fargo Hit with $1B in Fines by commonsense123 on Friday April 20, 2018 @03:28PM (#16887784)

more like a wanna be tech company.

[ Parent | on HN ]