Wells Fargo fires Iowa worker for minor 1963 crime

2012-08-27T13:34:00Z Wells Fargo fires Iowa worker for minor 1963 crime Mason City Globe Gazette
August 27, 2012 1:34 pm

DES MOINES, Iowa (AP) — Wells Fargo Home Mortgage has fired an Iowa worker over a 1963 incident at a laundry in the wake of new employment guidelines.

The Des Moines Register (http://dmreg.co/RSh49T ) says 68-year-old Richard Eggers was fired in July for putting a cardboard cutout of a dime in a Carlisle washing machine decades ago.

Court files say he was convicted of operating a coin changing machine by false means. Eggers calls it a "stupid mistake" but questions his firing.

Big banks have been firing employees due to new federal banking and mortgage employment guidelines. They're meant to weed out employees guilty of identity theft and mortgage fraud but are being applied across-the-board because of a possible $1-million-day-fine for noncompliance.

A Wells Fargo spokeswoman says expectations on banks have never been higher.

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Information from: The Des Moines Register, http://www.desmoinesregister.com

Copyright 2015 Mason City Globe Gazette. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

(5) Comments

  1. midwest
    Report Abuse
    midwest - August 27, 2012 5:41 pm
    OH really? Then who is going to fine them $1 million a day ?
  2. mclifer
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    mclifer - August 27, 2012 5:34 pm
    Thats the company way of getting rid of older employees before they retire. Come on, a paper slug 49 years ago at the age of 19. It's not like he ripped off somebody of their life savings. Oh, can banks do that...
  3. BorisTheSpider
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    BorisTheSpider - August 27, 2012 4:43 pm
    Right. Like Wells Fargo Home Mortgage is squeaky clean in all this (I can think of several hundred thousand homeowners who'd ride the bus with me on this).

    And midwest - this has absolutely NOTHING to do with the gov't. Snag a clue and hold on please.......
  4. midwest
    Report Abuse
    midwest - August 27, 2012 2:36 pm
    If the American people feel something like this is right then we are sure going down the wrong path as a country. To me it looks like the Feds are just looking for another way to gets some $$$$.
  5. midwest
    Report Abuse
    midwest - August 27, 2012 2:32 pm
    Why the heck don't they apply these rules to memebers of congress?
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