Double yikes! Wachovia fined for illegal drafts on clarkhoward.com

Several months ago, Clark told you that Wachovia was allowing illegal drafts from seniors' accounts. The bank has now been fined a pitifully low amount -- $10 million -- for its actions in a similar case involving unethical telemarketers. Wachovia had been taking a cut whenever it allowed fraudulent 3rd party telemarketers to make withdrawals from customer accounts.

First off, Clark says shame on the Office of the Comptroller of the Currency for being asleep on the job and allowing Wachovia to do this. Second, where are the jail sentences for the responsible parties?

The New York Times has gotten hold of some internal memos that show the company knew full well what was going on with the telemarketers. A Wachovia executive even wrote "Double yikes!!!!" on a memo that incriminated the bank in the rip-off.

But, wait, it gets worse. Wachovia knows exactly who they stole an estimated $100 million or more from. Yet they got the feds to agree that they don't have to give the money back -- unless those who have been wronged file a claim via a form that doesn't exist yet!

Clark is extremely upset about the puny $10 million fine and lack of prison time. If you stick-up a teller, you'll no doubt go to jail for a long time. So what gives in this case? In the interest of full disclosure, Clark wants you to know that he owns Wachovia stock. He also has a good mind to go to the next annual meeting and confront the company's big wigs face-to-face.

A press statement from the bank claims they're taking the crime seriously and trying to correct the situation. But it seems that if Wachovia wants to do right, they'd give the money back without making people fill out the form. Will the company just keep the ill-gotten gains from those account holders who are too old or sick to fill out a form?

One last note of general warning: You usually only have 60 days to dispute fraudulent transactions at your bank or brokerage house. You snooze, you lose.

What others are saying

bait and switch
Wachovia, got us by telling us an automatic renewal C.D. we had would re-new for just over four percent. They renewed our C.D. and after five months we wanted our money because of the banks failure and all the complaints on the web. They tried everything to have us leave our money in, told us they would give us a high rate and that the bank was sold to wells fargo. We said no, then after they processed our closing we found out we did not get hardly any interest on this C.D. After calling them they said is was my job to verify the new rate and they paid us just over one percent when most banks paid just over three percent. We did not get anything telling or informing us the new rate but we had it in our mind the rate they told us verbaly.
So these low lifes used our $21,000 for a $100.00 for five months and cheated us out of over three hundred dollars. I have tried for over a month to get a complaint filed on this bank. I could
not get anyone to do anything until several e-mails. After reading what the government has let this bank do to other people I realize nothing will be done and these crooks must be greasing someones palms in order to not be closed for criminal activity. This bank should not get bailout money, they need to be closed and shame on the regulators for being asleep, I bet none of this happened to their families money.
By Jim Ashworh @ 12/01/08 01:03:30 PMreport abuse
Wachovia makes up fees
I have had several bad experiences with Wachovia creating fees out of thin air regardless of balance. Its like giving your money over to a bank robber for safe keeping. And they have a policy of never admitting to a mistake.
By Tony P. @ 09/26/08 02:49:03 AMreport abuse
WAchovia Bank
Do you thnk WAchovia will Fail ad how soon. Would it be a good idea to change to another?
By David Bowman @ 06/05/08 11:01:10 AMreport abuse
Pay Back?
Does anyone know if Wachovia paid back the money?
By Nick @ 06/05/08 01:39:16 AMreport abuse
These people are fighting back!
wachovialied.com "It is very interesting!"
By Amy @ 05/27/08 04:31:35 PMreport abuse
FRAUD FROM A TRUST
MY SISTER IS STEALING MONEY FROM A TRUST THAT IS SUPPOSE TO BE SET UP TO
PAY EXPENSES FOR HER 90 YEAR OLD MOTHER. A TRUST WAS WROTE IN 1970 AND
IT IS OUTDATED . THE BANK INSIST ON GOING THROUGH THE MOENY WHICH ONLY HAS
ABOUT 3 YEARS OF NOMEY TO CAR FOR MY MOTHER. I HAD PUT SOME MONEY ASIDE SO
SHE COULD USE IN IN AN EMERGENCY WHICH IS 20,000 DOLLARS AND THAT IS ALL SHE HAS.
By ELLEN ROSENTHAL @ 05/22/08 08:56:39 AMreport abuse
Wachovia Bank
Wachovia Bank has gone downhill to the fullest this past year. We are in a family MESS from 2 family thieves that went into Wachovia & many other banks with a Fraudulent Durable Power of Attorney on a rich relative & literally STOLE $2 million dollars. Wachovia refused to do anything. The Federal Reserve Board (Bank Regulatory agency over Fifth Third Banks), stated to Congress in a letter of complaint that I sent against Fifth Third bank for same transaction of same 2 thieves, that the Durable Power of Attorney was NOT a Trustee Power of Attorney, therefore illegal to redeem Bank C.D.'s. No one is competent anymore in the Banking industry; especially the 2 banks in above story. This is true & currently ongoing battle with the Wachovia Bank. They are now under investigation by the Comptroller of Currency (their Federal regulatory agency). Hopefully they will be fined for this travesty. Please watch any inheritance you may be coming into. Family GREED is almost inevitable in todays world. Crooked Lawyers are also involved in this mess too. My Husband was able to get back his bank C.D. because we involved Congress to get the Federal Gov't to intervene in a timely manner. Just wanted to share this with you all. Regards, Kandy
By Kandy Shine @ 05/21/08 11:54:45 PMreport abuse
Drafting money
My parents are both 75 and 80 years old this is the main reason I have had to take over my parents' accounts. It is sad that we have to watch out for crooks being of people and now the banks that we entrust our money to. I think all banks need to remember who they are working for. This is the main reason I am trying to talk my parents into going with CREDIT UNIONS!! This is why I love my credit union, they have never treated me this way.
By Dawn Neal @ 05/18/08 07:32:21 PMreport abuse
Wachovia
The Wachovia "brand" has now been dragged into the muck by the First Union NB. You can see why they were so eager to shed the FUNB logo. You can put all the lipstick you want on a pig. It is still a pig. Check FUNB history.
By David Lewis @ 05/16/08 09:55:45 AMreport abuse
another white guy crime.....
He just pays it back, black guy goes to jail. Im sure wachovia execs feel super bad in their mansions while dictating the press release telling us how they will correct it. they really need to go to jail and FEEL what bad is
By rp @ 05/14/08 05:59:53 PMreport abuse
Wachovia
I totally agree, these greedy so and so's should serve the maximum time.
By Virginia @ 05/10/08 02:01:16 PMreport abuse
Double Yikes
Wachovia should repay all accounts that they knowingly ripped off!!! They should also pay penalties!
By Greg McKenzie @ 05/09/08 07:40:29 PMreport abuse
Help or hinder?
Double Trouble = Clark stands by and does nothing? Wants them to STEAL from more people so the stock goes up!!!
== Clark = WAKE UP!!!! Do whats right!!
Please do the following,,,,,,
1) keep the stock to get in the next annual meeting of Wachovia and tell them that if they do not make the public whole, you plan to sell ALL of your stock, and go over the airwaves and tell the rest of America to do the same, each and every week, making sure
the nation is capable to follow along.
2) keep us informed along the way
3) DO WHATS RIGHT
4) DO NOT LET US DOWN! Please!
By Tony @ 05/09/08 11:23:55 AMreport abuse
Wacovia Shame on You !!
What others are sayingSeniors and All Wacovia Bank Customers Against Fraud and Taking Hard Earned Money!!!
I have been trying to help my parents on their fraud case against Wacovia . I have worked long hours with customer service and fraud department to no avail!! I have been treated with disrespect!! There has been alot of identity theft cases at the Austell Road Branch in Austell Georgia my Parents and our account as well!! There is only one lady named Kalina that cares at this branch as the Branch Manager doesn't even care!!They know the name of the criminal but because this has dated back to December of last year we have not been given any hope that almost 1,000.00 dollars from their account has gone to paying the criminals Credit One account.They have been alerted and I have been told that this man has an account with Credit One Bank with my parents checking account number on it and he has stolen and credited his account with their money!!They are 78 years old and this has taken their hard earned money and they have been customers for as long as i can remember with this Wacovia Bank. Go to the Bank ,Check your account know daily what is going on because you too can have your identity stolen do not wait a month or they will have your social security number and in a month a criminal can do alot with that information. I ask you what can we do as customers are we to sit at home and get robbed or do something about this !!!
By Debbie Radatz @ 05/08/08 09:58:59 AMreport abuse
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By Debbie Radatz @ 05/08/08 06:34:38 PMreport abuse
bank of america
I recently found out that my 2 (Line of credit for $10k and $500 and there was a $0 balance on both of them)accounts where closed buy BOA because me not having in activity on these accounts.
The BOA just closed them without contacting me first to give me an option for closing them.
I believe its a move against me as a senior citizen
By gordon a. page @ 05/07/08 08:36:41 PMreport abuse
Senior Stick -up Wachovia
OUTRAGEOUS! Stealing is stealing I don't care who or what you are. Blue collar folks go to jail for that! What does this teach our young people about our economy, ethics, and accountability?
By M Moncrief @ 05/07/08 04:55:34 PMreport abuse
WACHOVIA BANK
SHAME, I ALSO OWN CONSIDERABLE STOCK. CEO SHOULD NOT GET BIG SALARY/BONUS.
By TOM SAFFOLD @ 05/06/08 09:15:27 AMreport abuse
wachovia
they are all the same.the gov.protects them so they can steal from you.i dont and never will bank with them.
By l.curtis @ 05/06/08 08:34:32 AMreport abuse
Wachovia
Wachovia bank is dirty in so many ways, and if the Feds are not going to put them in jail, the public at least has the right to know what they are up to. They are not only abetting fraudulent telemarketers, they are also up to their eyeballs in Auction Rate Securities scams, as well as laundering South American drug money. How do I know this? Simple. It is in the Wall Street Journal! The only question is, why in God's name are they not facing a grand jury indictment?? If the government is not going to deal with them, perhaps ordinary citizens can at least vote with their feet.
By Max Johnston @ 05/06/08 12:28:13 AMreport abuse
Wachovia
I don't bank with this organization, but my late father did---He left a vey sizeable amount of money invested in this bank for my elderly mother. I now take care of my mothers finances---in the eight years since my father died, I have slowly moved her money out of CD's,IRA's,and other investments and now am down to just a senior checking account. This organization is unresponsive and sometimes unfair (in my opinion) with how they treat their good, longtime customers.
By Ray @ 05/05/08 09:17:12 PMreport abuse
Wachovia Scam
Clark, On behalf of all the defenseless elderly people who have been ripped off by a giant bank, I implore you to go to bat for them and state your case at the next annual meeting. The more people who are aware of the illegal and certainly unethical acts the more likely Wachovia will take appropriate steps to ensure this behavior is stopped. One day we will all be old and can only hope that someone with a platform will take a stand in our defense. Thank you on behalf of those who either cannot or do not know how to speak for themselves.
By Claire @ 05/05/08 09:10:47 PMreport abuse
Wachovia
I am 69 and have been dealing with Wachovia for many years without a problem. I have always had free checking and have never had to pay them any kind of a fee. I am able to view my account on the internet and download my transactions any time, as many times as I choose. I check all my accounts each day to make sure there are no problems. These are my accounts and my responsibility. I believe BOA will allow you to do this for around ten dollars a month. I deal with several other banks that send me "FREE CHECKS" every two or three months and should I ever be stupid enough to cash one I would soon discover that I had signed up for some worthless service or agreed to a high interest loan. It seems they are all out to make all they can and some have not been caught . Contrary to what many may think, we just don't seem to get any smarter as we grow older.
By Jack Waters @ 05/05/08 09:09:34 PMreport abuse
Wachovia Bank
They live up to their nick name: "Walk all over ya"
By Terry Crowley @ 05/05/08 08:42:22 PMreport abuse
Wachovia Dishonesty
As a former First Union customer and now a Wachovia customer I am disappointed in this behavior, especially after calling themselves "Number 1 in customer service...". Clark, please attend their annual meeting and speak up for us.
By Ed C @ 05/05/08 08:38:04 PMreport abuse
Wachovia
Can anyone name a bank that has never been guilty of ripping off someone???
By Diane @ 05/05/08 08:04:00 PMreport abuse
Wachovia rip-off
I would like to see this make the national news and if not why?
By BGH @ 05/05/08 05:28:14 PMreport abuse
Wachovia Fraud
I just started buying stocks. I will not consider Wachovia now. Thanks,
By Mary Jazwiecki @ 05/05/08 05:24:28 PMreport abuse
Wachovia / Seniors
I believe that at 81 years 11 months old I should qualify as a senior ... Wachovia has been my bank ever since the absorbed South Trust ... Regardless who I do financial dealings with I constantly keep checking what is going on with my account ... it is my money and it is up to me to stay on top of what is happening ... I have had absolutely no problem with this bank ... nor do I hesitate to call the local branch when I have any question at all with what is going on in any of my accounts ..... there are automatic withdrawls made and I am on top of each and every one ....
By RJH @ 05/05/08 05:17:00 PMreport abuse
To Nelda re Carolyn & Clark's Stock
Hi Nelda, She threw me with the "you too" statement which sounded inclusive of myself and Clark. Her statement also being negative and not well thought out tripped my trigger :) Bottom line is that Clark needs to start a money meter of closed accounts like was done awhile back with BOA. They are going to do as little as they can get away with unless there is an incentive to do more.
By Bill Wilson @ 05/05/08 04:29:57 PMreport abuse
Walkoverya
I knew I didn't like this bank for a reason! Now I know what that reason is.
By Keith R @ 05/05/08 04:27:59 PMreport abuse
RIPPED OFF
Just when will it ever end
So many people are so worried about being rich that they care less about everyone else in life
By FOURMOREMARINE @ 05/05/08 04:25:06 PMreport abuse
Bank Robbery
I taught my children over the years, when a bank has a robbery, it's the guy in the three piece suit whose doing the stealing.
By Alan Cohen @ 05/05/08 04:07:03 PMreport abuse
Wachovia crooks
Clark, I think you should go to the next annual meeting and speak your mind!!
By Vicki Hindmon @ 05/05/08 03:45:06 PMreport abuse
Wachovia Claim Form
Will you update us on your site if this form ever appears so that we may make a claim?
By Mary @ 05/05/08 03:24:32 PMreport abuse
To Bill re Carolyn
Bill -- she's talking about Clark's stock.
By Nelda G @ 05/05/08 03:22:03 PMreport abuse
wachovia ripoff
Why wasn't anyone arrested for this crime? how can we as individuals get something done about this?
By darell fuchs @ 05/05/08 03:22:01 PMreport abuse
Wachovia bank fraud
Here is one way to possibly get Wachovia to refund the money to the elders. Once the correct forms are printed, threaten to have all your listeners, and their friends do a "mass mailing" to Wachovia claiming money that they "may" be owed. They may just find it easier to send out the correct money than sort through thousands of random requests for money.
And Clark, Keep your stock so that you can go to the stockholders meeting and give them a piece of your mind.
By Kim Jacobson @ 05/05/08 02:20:37 PMreport abuse
Question to Carolyn about her Post
Hi, Are you responding to my post a 26 Year Perspective? I know there is a delay, but I see no other posts close that the phrase "you too" could apply to. Pardon me if I'm wrong. If you are responding to my post where do you see any mention of stock or investing in Wachovia?
By Bill WIlson @ 05/05/08 01:44:35 PMreport abuse
Wachovia Bank
That's an ongoing problem of our justice system, the big corporations get away with grand theft, so they continue to do it.
By nora @ 05/05/08 01:33:49 PMreport abuse
Mess_Ovia
Lets not forget that this once fine name is now still truly 1st Union in everything they do.

Does that explain the attitude?
By Steve @ 05/05/08 01:27:29 PMreport abuse
Wachovia
I am a senior who became a Wachovia customer as a result of their buyout of SouthTrust, and I have been very happy with their treatment of my account. Since Wachovia knows the identity of the victims of the fraudulent telemarketing drafts, reimbursement should be made immediately without any paperwork requirement!
By Shirley L. @ 05/05/08 01:04:15 PMreport abuse
Wachovia
By owning their stock I suppose you too are profiting from their illegal activities.
By Carolyn @ 05/05/08 12:53:33 PMreport abuse
From WatchOverYa to WalkOverYa a 26 Year perspective
I have been a Wachovia customer since 1980, for the first 10 years they were great with their Personal Banker they assigned you. Sometime in the 90's they lost their way and the Personal Banker became the opposite. They except for a few now make you feel like they are doing you a favor to let you have an account. Also people lay off on bashing Clark about the stock, THINK! If he has no stock how can he have any say or go the annual meeting and confront the company's big wigs face-to-face? It's now time for people to take action and close their accounts, with a verbal and written reason why. http://en.wikipedia.org/wiki/Wachovia
By Bill Wilson @ 05/05/08 12:51:02 PMreport abuse
I' ve Closed Mine - what about you Clark?
I have closed my account with Wachovia, telling them exactly why. What about you Clark? Isn't time you dumped their stock as well?
By Tracy @ 05/05/08 12:14:59 PMreport abuse
Wachovia
It is amazing how big business can lie & steal without any recourse. There isn't any accountability for those with the big bucks.
By Mary @ 05/05/08 11:56:43 AMreport abuse
Wachovia Bank
Go Clark Go to the annual meeting.
Someone needs to act on behalf of everyone who was ripped off
By Greta Smith @ 05/05/08 11:55:50 AMreport abuse
Wachovia
It is sad. I remember long time ago you highly recomended this bank, but now...
By Nancy @ 05/05/08 11:45:07 AMreport abuse
Wachovia
I'm ashamed of Wachovia - too often we are at financial risk and oblivious to it. Whatever happened to honest and integrity?
By Katharine @ 05/05/08 11:13:20 AMreport abuse
Wachovia
Appalling!
By Marilyn @ 05/05/08 10:47:48 AMreport abuse
Bank of America's great service! Awesome
Bless you Clark for your care of us in the dark! I want to tell you I just had a great experience with (your not so fav.big
bank; BOA) While trying to ck my mtg bal on line, an instant msg from a rep.appeared & they helped me so much w/
instant assistance, Sunday night no less! I was sooo impressed w/service. @ my local branch,Cary NC, the reps are most attentive & professional!!
By Denise Birtles @ 05/05/08 10:39:48 AMreport abuse
wachovia rip-off
I am not surprised at wachovia's dealings with individual customers. I closed my account with them years ago when I saw how individuals were treated - as if the bank is doing you a favor! Yes, the Comptroller should be ashamed how he is doing nothing for the taxpayers and not forcing wachovia to give the people their money back. The fine should have been 100 million, no a measly 10.
By charly swier @ 05/05/08 10:36:11 AMreport abuse
Rip Off - Chovia
This is shameful. People need to go to jail ! And, they need to be PRO-ACTIVE in getting money back ... even if it costs Rip Off-Chovia big bucks. Can we e-mail the fed prosecutor involved to shout encouragement ??
By John G. @ 05/03/08 05:18:15 PMreport abuse
Wachovia
Wachovia Sounds a lot like Congress !
By JD @ 05/02/08 09:06:03 AMreport abuse
Wachovia
Do you recommend changing banks if a person has an account with Wachovia?
By Monica @ 05/01/08 07:35:00 AMreport abuse
I think the real story on this site is that Clark continues to own stock in a company whose business practices continue to be unethical. What message are you sending to people Clark?
By Jeff @ 05/01/08 03:42:22 AMreport abuse
no surprise here
All who continue to bank with the nefarious Bank of America or Wachovia are putting themselves in a bad situation and shouldn't be surprised when things like this happen. These two banks are fundamentally dishonest when it comes to overdrafts, so why the shock?
By JH @ 04/30/08 10:35:13 PMreport abuse
Wachovia
Clark,
Since Wachovia's executives' behavior absolutely stinks, (worse than a "double yikes") I think you should not only go to the shareholders meeting and confront the board, you should then sell your stock.
By rennie @ 04/30/08 10:12:37 PMreport abuse
Wachovia
It's a shame people in the news business only report what will give them higher ratings and more commotion instead of the entire truth. Which you back up buy hanging on to your stock.....
By Roy @ 04/30/08 09:18:31 PMreport abuse
Wachovia
I aave issues with Wachovia and leaving
them myself, thanks for the heads up
on their tactics and bringing it OPEN
to the public. THANK YOU !
By Jean K @ 04/30/08 05:38:36 PMreport abuse
wachovia
I will be going in to close my account tomorrow.
By Erey @ 04/30/08 05:16:31 PMreport abuse
ILLEGAL DRAFTS
I have been with them for a lot of years. I plan to go completely with my credit union. Wachovia has gotten too big for their britches as the saying goes!! I wanted to give them my business because they started here in Winston-Salem. If they take their customers for granted, then I'll do the same!!!!
By kathy m. @ 04/30/08 04:53:11 PMreport abuse
Wachovia
Wachovia is not without its faults but they do get it right sometimes. I check my accounts online daily and found a $560 debit card posting from another area of the state.I called the bank and it was obviously fraud, they had the full amount restored to my account that midnight, which I thought was quite prompt.
By Jorgen Andersen @ 04/30/08 02:40:06 PMreport abuse
Wachovia Bank
This is nothing short of stealing. I hope every day they look at themselves in the mirror they see the word "THIEF"
across their foreheads.
By Alice H. @ 04/30/08 02:25:36 PMreport abuse
Wachovia
Clark - turn your outrage to action. This is at least the 2nd negative story you have reported on Wachovia. When are you going to dump their stock???
By AJ @ 04/30/08 01:36:36 PMreport abuse
$16,000 mistake
Doesn't surprise me - i watch my 81yr old mother's account online with Wachovia. Recently they made a $16,000mistake and will not honor it.
By Wachovia SUCKS @ 04/30/08 01:24:05 PMreport abuse
Wachovia may have been fined, but what about us(The customer)?
Regardless of the company being fined, what about the customers that lost funds due to these illegal drafts. I was never given a explanation or refund regarding missing funds.
By Roslyn Stanford @ 04/30/08 11:59:59 AMreport abuse
watchovia
Clark you stink, I heard you on the radio yesterday and I think if you are so outraged at Watchovia why don't you sell your stocks instead of saying "maybe I will go to the stockholder's meeting next time....."
After all you are an owner of Watchovia it makes you as guilty as them to do nothing, to still owned stock in that company. Did they steal money from your mother too?
But I know you won't sell your stocks because you are too greedy. If you can't even pay a $1.00 for a parking ticket you surely won't unload your stock. It's called greed not cheap.
Something to think about before you go to bed tonight. God gave you millions why don't you do the right thing now by Him.
By carmen strating @ 04/30/08 11:01:29 AMreport abuse
Wachovia
Recently, I wanted to move my money to Wachovia since it was receiving such high marks for customer service. But lately, I've heard one bad thing after another concerning this bank (allowing large checks to be cleared to rack up on overdraft fees of smaller checks; stealing from seniors, etc). I'm sick of businesses advertising as though they are doing the consumer a favor, when we know any "deals" they give us are to benefit them, not us.
By Tia @ 04/30/08 10:16:24 AMreport abuse
Wachovia
Have you seen our web site Wachovialied.com enough customers can fix this problem these big banks have gotton out of hand
By Mark Chambers @ 04/30/08 10:08:53 AMreport abuse
Wachovia
Clark this wasn't a draft scam it was a telemarketing company that processes things for Wachovia that scam our mutual customers. At Wachovia we pride ourselves on being trust worthy to our customers and also protecting them and their assets.
By Julia @ 04/30/08 09:09:15 AMreport abuse
Wachovia
I am 71 yrs old and have every penny I have left in a money market and a checking account at Wachovia. Should I move my money to another back?
By Bonnie Hendricks @ 04/29/08 11:35:18 PMreport abuse
banking
I know clark is not to fond of BoA,but for 10 plus years I have banked with them and they never ever screwed up, online bill pay balance anything, never lost a penny with them, I even get free checking with a zero balance.
By Guy @ 04/29/08 09:24:41 PMreport abuse
wachovia stealing and illegally laundering money for the mob?
What is this all about? I know that this is two separate subjects, but would still like all of the info that you have on them? Exactly how is Wachovia stealing from our seniors? and what about the money laundering that I have heard rumors regarding Wachovia's involvement? Are they really part of the mobs' or drug money laundering scheme?
By rose @ 04/29/08 08:12:22 PMreport abuse
wachovia
I know that wachovia has very iffy practices when it comes to your money in their bank they look for ways to charge your free account with bogas charges I will never bank with them again
By rick osborn @ 04/29/08 07:54:37 PMreport abuse
"Inactivity" charge
(Small amount of) money in savings. Bank charged "inactivity" fee which they knew was more than the amount in the account. THEN they charged $30+ for "insufficient funds"!!!! We are a small town...went and complained to bank. Money was refunded. (Not Wachovia)
By Gale Erdmann @ 04/29/08 06:44:56 PMreport abuse
Wachovia
I won't bank there and I will tell other not to.

How about a follow up to Attorney General at Dept. of Justice.
By Larry Lowenberg @ 04/29/08 06:43:28 PMreport abuse
Series I Bonds
But you can't invest over $5,000.
By B. Moore @ 04/29/08 06:41:43 PMreport abuse
Appleton, WI visit
I heard your story about the $25 ticket
today and I sent a blistering e-mail to
the Appleton city govt. web site. I hope many other listeners did the very
same thing! Shame on Appleton, WI!
By Patricia McCormack @ 04/29/08 04:20:22 PMreport abuse
Wachovia
Please go to the Wachovia meeting. I have no stock ownership in order to go. I think Wachovia should give back the money, especially since a record exists. Sometimes old people don't want to admit they have been taken.
By Cindy @ 04/29/08 04:16:47 PMreport abuse

bait and switch

Wachovia, got us by telling us an automatic renewal C.D. we had would re-new for just over four percent. They renewed our C.D. and after five months we wanted our money because of the banks failure and all the complaints on the web. They tried everything to have us leave our money in, told us they would give us a high rate and that the bank was sold to wells fargo. We said no, then after they processed our closing we found out we did not get hardly any interest on this C.D. After calling them they said is was my job to verify the new rate and they paid us just over one percent when most banks paid just over three percent. We did not get anything telling or informing us the new rate but we had it in our mind the rate they told us verbaly.
So these low lifes used our $21,000 for a $100.00 for five months and cheated us out of over three hundred dollars. I have tried for over a month to get a complaint filed on this bank. I could
not get anyone to do anything until several e-mails. After reading what the government has let this bank do to other people I realize nothing will be done and these crooks must be greasing someones palms in order to not be closed for criminal activity. This bank should not get bailout money, they need to be closed and shame on the regulators for being asleep, I bet none of this happened to their families money.

By Jim Ashworh @ 12/01/08 01:03:30 PMreport abuse

Wachovia makes up fees

I have had several bad experiences with Wachovia creating fees out of thin air regardless of balance. Its like giving your money over to a bank robber for safe keeping. And they have a policy of never admitting to a mistake.

By Tony P. @ 09/26/08 02:49:03 AMreport abuse

WAchovia Bank

Do you thnk WAchovia will Fail ad how soon. Would it be a good idea to change to another?

By David Bowman @ 06/05/08 11:01:10 AMreport abuse

Pay Back?

Does anyone know if Wachovia paid back the money?

By Nick @ 06/05/08 01:39:16 AMreport abuse

These people are fighting back!

wachovialied.com "It is very interesting!"

By Amy @ 05/27/08 04:31:35 PMreport abuse

FRAUD FROM A TRUST

MY SISTER IS STEALING MONEY FROM A TRUST THAT IS SUPPOSE TO BE SET UP TO
PAY EXPENSES FOR HER 90 YEAR OLD MOTHER. A TRUST WAS WROTE IN 1970 AND
IT IS OUTDATED . THE BANK INSIST ON GOING THROUGH THE MOENY WHICH ONLY HAS
ABOUT 3 YEARS OF NOMEY TO CAR FOR MY MOTHER. I HAD PUT SOME MONEY ASIDE SO
SHE COULD USE IN IN AN EMERGENCY WHICH IS 20,000 DOLLARS AND THAT IS ALL SHE HAS.

By ELLEN ROSENTHAL @ 05/22/08 08:56:39 AMreport abuse

Wachovia Bank

Wachovia Bank has gone downhill to the fullest this past year. We are in a family MESS from 2 family thieves that went into Wachovia & many other banks with a Fraudulent Durable Power of Attorney on a rich relative & literally STOLE $2 million dollars. Wachovia refused to do anything. The Federal Reserve Board (Bank Regulatory agency over Fifth Third Banks), stated to Congress in a letter of complaint that I sent against Fifth Third bank for same transaction of same 2 thieves, that the Durable Power of Attorney was NOT a Trustee Power of Attorney, therefore illegal to redeem Bank C.D.'s. No one is competent anymore in the Banking industry; especially the 2 banks in above story. This is true & currently ongoing battle with the Wachovia Bank. They are now under investigation by the Comptroller of Currency (their Federal regulatory agency). Hopefully they will be fined for this travesty. Please watch any inheritance you may be coming into. Family GREED is almost inevitable in todays world. Crooked Lawyers are also involved in this mess too. My Husband was able to get back his bank C.D. because we involved Congress to get the Federal Gov't to intervene in a timely manner. Just wanted to share this with you all. Regards, Kandy

By Kandy Shine @ 05/21/08 11:54:45 PMreport abuse

Drafting money

My parents are both 75 and 80 years old this is the main reason I have had to take over my parents' accounts. It is sad that we have to watch out for crooks being of people and now the banks that we entrust our money to. I think all banks need to remember who they are working for. This is the main reason I am trying to talk my parents into going with CREDIT UNIONS!! This is why I love my credit union, they have never treated me this way.

By Dawn Neal @ 05/18/08 07:32:21 PMreport abuse

Wachovia

The Wachovia "brand" has now been dragged into the muck by the First Union NB. You can see why they were so eager to shed the FUNB logo. You can put all the lipstick you want on a pig. It is still a pig. Check FUNB history.

By David Lewis @ 05/16/08 09:55:45 AMreport abuse

another white guy crime.....

He just pays it back, black guy goes to jail. Im sure wachovia execs feel super bad in their mansions while dictating the press release telling us how they will correct it. they really need to go to jail and FEEL what bad is

By rp @ 05/14/08 05:59:53 PMreport abuse

I totally agree, these greedy so and so's should serve the maximum time.

By Virginia @ 05/10/08 02:01:16 PMreport abuse

Double Yikes

Wachovia should repay all accounts that they knowingly ripped off!!! They should also pay penalties!

By Greg McKenzie @ 05/09/08 07:40:29 PMreport abuse

Help or hinder?

Double Trouble = Clark stands by and does nothing? Wants them to STEAL from more people so the stock goes up!!!
== Clark = WAKE UP!!!! Do whats right!!
Please do the following,,,,,,
1) keep the stock to get in the next annual meeting of Wachovia and tell them that if they do not make the public whole, you plan to sell ALL of your stock, and go over the airwaves and tell the rest of America to do the same, each and every week, making sure
the nation is capable to follow along.
2) keep us informed along the way
3) DO WHATS RIGHT
4) DO NOT LET US DOWN! Please!

By Tony @ 05/09/08 11:23:55 AMreport abuse

Wacovia Shame on You !!

What others are sayingSeniors and All Wacovia Bank Customers Against Fraud and Taking Hard Earned Money!!!
I have been trying to help my parents on their fraud case against Wacovia . I have worked long hours with customer service and fraud department to no avail!! I have been treated with disrespect!! There has been alot of identity theft cases at the Austell Road Branch in Austell Georgia my Parents and our account as well!! There is only one lady named Kalina that cares at this branch as the Branch Manager doesn't even care!!They know the name of the criminal but because this has dated back to December of last year we have not been given any hope that almost 1,000.00 dollars from their account has gone to paying the criminals Credit One account.They have been alerted and I have been told that this man has an account with Credit One Bank with my parents checking account number on it and he has stolen and credited his account with their money!!They are 78 years old and this has taken their hard earned money and they have been customers for as long as i can remember with this Wacovia Bank. Go to the Bank ,Check your account know daily what is going on because you too can have your identity stolen do not wait a month or they will have your social security number and in a month a criminal can do alot with that information. I ask you what can we do as customers are we to sit at home and get robbed or do something about this !!!
By Debbie Radatz @ 05/08/08 09:58:59 AMreport abuse
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By Debbie Radatz @ 05/08/08 06:34:38 PMreport abuse

bank of america

I recently found out that my 2 (Line of credit for $10k and $500 and there was a $0 balance on both of them)accounts where closed buy BOA because me not having in activity on these accounts.
The BOA just closed them without contacting me first to give me an option for closing them.
I believe its a move against me as a senior citizen

By gordon a. page @ 05/07/08 08:36:41 PMreport abuse

Senior Stick -up Wachovia

OUTRAGEOUS! Stealing is stealing I don't care who or what you are. Blue collar folks go to jail for that! What does this teach our young people about our economy, ethics, and accountability?

By M Moncrief @ 05/07/08 04:55:34 PMreport abuse

WACHOVIA BANK

SHAME, I ALSO OWN CONSIDERABLE STOCK. CEO SHOULD NOT GET BIG SALARY/BONUS.

By TOM SAFFOLD @ 05/06/08 09:15:27 AMreport abuse

wachovia

they are all the same.the gov.protects them so they can steal from you.i dont and never will bank with them.

By l.curtis @ 05/06/08 08:34:32 AMreport abuse

Wachovia bank is dirty in so many ways, and if the Feds are not going to put them in jail, the public at least has the right to know what they are up to. They are not only abetting fraudulent telemarketers, they are also up to their eyeballs in Auction Rate Securities scams, as well as laundering South American drug money. How do I know this? Simple. It is in the Wall Street Journal! The only question is, why in God's name are they not facing a grand jury indictment?? If the government is not going to deal with them, perhaps ordinary citizens can at least vote with their feet.

By Max Johnston @ 05/06/08 12:28:13 AMreport abuse

I don't bank with this organization, but my late father did---He left a vey sizeable amount of money invested in this bank for my elderly mother. I now take care of my mothers finances---in the eight years since my father died, I have slowly moved her money out of CD's,IRA's,and other investments and now am down to just a senior checking account. This organization is unresponsive and sometimes unfair (in my opinion) with how they treat their good, longtime customers.

By Ray @ 05/05/08 09:17:12 PMreport abuse

Wachovia Scam

Clark, On behalf of all the defenseless elderly people who have been ripped off by a giant bank, I implore you to go to bat for them and state your case at the next annual meeting. The more people who are aware of the illegal and certainly unethical acts the more likely Wachovia will take appropriate steps to ensure this behavior is stopped. One day we will all be old and can only hope that someone with a platform will take a stand in our defense. Thank you on behalf of those who either cannot or do not know how to speak for themselves.

By Claire @ 05/05/08 09:10:47 PMreport abuse

I am 69 and have been dealing with Wachovia for many years without a problem. I have always had free checking and have never had to pay them any kind of a fee. I am able to view my account on the internet and download my transactions any time, as many times as I choose. I check all my accounts each day to make sure there are no problems. These are my accounts and my responsibility. I believe BOA will allow you to do this for around ten dollars a month. I deal with several other banks that send me "FREE CHECKS" every two or three months and should I ever be stupid enough to cash one I would soon discover that I had signed up for some worthless service or agreed to a high interest loan. It seems they are all out to make all they can and some have not been caught . Contrary to what many may think, we just don't seem to get any smarter as we grow older.

By Jack Waters @ 05/05/08 09:09:34 PMreport abuse

They live up to their nick name: "Walk all over ya"

By Terry Crowley @ 05/05/08 08:42:22 PMreport abuse

Wachovia Dishonesty

As a former First Union customer and now a Wachovia customer I am disappointed in this behavior, especially after calling themselves "Number 1 in customer service...". Clark, please attend their annual meeting and speak up for us.

By Ed C @ 05/05/08 08:38:04 PMreport abuse

Can anyone name a bank that has never been guilty of ripping off someone???

By Diane @ 05/05/08 08:04:00 PMreport abuse

Wachovia rip-off

I would like to see this make the national news and if not why?

By BGH @ 05/05/08 05:28:14 PMreport abuse

Wachovia Fraud

I just started buying stocks. I will not consider Wachovia now. Thanks,

By Mary Jazwiecki @ 05/05/08 05:24:28 PMreport abuse

Wachovia / Seniors

I believe that at 81 years 11 months old I should qualify as a senior ... Wachovia has been my bank ever since the absorbed South Trust ... Regardless who I do financial dealings with I constantly keep checking what is going on with my account ... it is my money and it is up to me to stay on top of what is happening ... I have had absolutely no problem with this bank ... nor do I hesitate to call the local branch when I have any question at all with what is going on in any of my accounts ..... there are automatic withdrawls made and I am on top of each and every one ....

By RJH @ 05/05/08 05:17:00 PMreport abuse

To Nelda re Carolyn & Clark's Stock

Hi Nelda, She threw me with the "you too" statement which sounded inclusive of myself and Clark. Her statement also being negative and not well thought out tripped my trigger :) Bottom line is that Clark needs to start a money meter of closed accounts like was done awhile back with BOA. They are going to do as little as they can get away with unless there is an incentive to do more.

By Bill Wilson @ 05/05/08 04:29:57 PMreport abuse

Walkoverya

I knew I didn't like this bank for a reason! Now I know what that reason is.

By Keith R @ 05/05/08 04:27:59 PMreport abuse

RIPPED OFF

Just when will it ever end
So many people are so worried about being rich that they care less about everyone else in life

By FOURMOREMARINE @ 05/05/08 04:25:06 PMreport abuse

Bank Robbery

I taught my children over the years, when a bank has a robbery, it's the guy in the three piece suit whose doing the stealing.

By Alan Cohen @ 05/05/08 04:07:03 PMreport abuse

Wachovia crooks

Clark, I think you should go to the next annual meeting and speak your mind!!

By Vicki Hindmon @ 05/05/08 03:45:06 PMreport abuse

Wachovia Claim Form

Will you update us on your site if this form ever appears so that we may make a claim?

By Mary @ 05/05/08 03:24:32 PMreport abuse

To Bill re Carolyn

Bill -- she's talking about Clark's stock.

By Nelda G @ 05/05/08 03:22:03 PMreport abuse

wachovia ripoff

Why wasn't anyone arrested for this crime? how can we as individuals get something done about this?

By darell fuchs @ 05/05/08 03:22:01 PMreport abuse

Wachovia bank fraud

Here is one way to possibly get Wachovia to refund the money to the elders. Once the correct forms are printed, threaten to have all your listeners, and their friends do a "mass mailing" to Wachovia claiming money that they "may" be owed. They may just find it easier to send out the correct money than sort through thousands of random requests for money.
And Clark, Keep your stock so that you can go to the stockholders meeting and give them a piece of your mind.

By Kim Jacobson @ 05/05/08 02:20:37 PMreport abuse

Question to Carolyn about her Post

Hi, Are you responding to my post a 26 Year Perspective? I know there is a delay, but I see no other posts close that the phrase "you too" could apply to. Pardon me if I'm wrong. If you are responding to my post where do you see any mention of stock or investing in Wachovia?

By Bill WIlson @ 05/05/08 01:44:35 PMreport abuse

That's an ongoing problem of our justice system, the big corporations get away with grand theft, so they continue to do it.

By nora @ 05/05/08 01:33:49 PMreport abuse

Mess_Ovia

Lets not forget that this once fine name is now still truly 1st Union in everything they do.

Does that explain the attitude?

By Steve @ 05/05/08 01:27:29 PMreport abuse

I am a senior who became a Wachovia customer as a result of their buyout of SouthTrust, and I have been very happy with their treatment of my account. Since Wachovia knows the identity of the victims of the fraudulent telemarketing drafts, reimbursement should be made immediately without any paperwork requirement!

By Shirley L. @ 05/05/08 01:04:15 PMreport abuse

By owning their stock I suppose you too are profiting from their illegal activities.

By Carolyn @ 05/05/08 12:53:33 PMreport abuse

From WatchOverYa to WalkOverYa a 26 Year perspective

I have been a Wachovia customer since 1980, for the first 10 years they were great with their Personal Banker they assigned you. Sometime in the 90's they lost their way and the Personal Banker became the opposite. They except for a few now make you feel like they are doing you a favor to let you have an account. Also people lay off on bashing Clark about the stock, THINK! If he has no stock how can he have any say or go the annual meeting and confront the company's big wigs face-to-face? It's now time for people to take action and close their accounts, with a verbal and written reason why. http://en.wikipedia.org/wiki/Wachovia

By Bill Wilson @ 05/05/08 12:51:02 PMreport abuse

I' ve Closed Mine - what about you Clark?

I have closed my account with Wachovia, telling them exactly why. What about you Clark? Isn't time you dumped their stock as well?

By Tracy @ 05/05/08 12:14:59 PMreport abuse

It is amazing how big business can lie & steal without any recourse. There isn't any accountability for those with the big bucks.

By Mary @ 05/05/08 11:56:43 AMreport abuse

Go Clark Go to the annual meeting.
Someone needs to act on behalf of everyone who was ripped off

By Greta Smith @ 05/05/08 11:55:50 AMreport abuse

It is sad. I remember long time ago you highly recomended this bank, but now...

By Nancy @ 05/05/08 11:45:07 AMreport abuse

I'm ashamed of Wachovia - too often we are at financial risk and oblivious to it. Whatever happened to honest and integrity?

By Katharine @ 05/05/08 11:13:20 AMreport abuse

Appalling!

By Marilyn @ 05/05/08 10:47:48 AMreport abuse

Bank of America's great service! Awesome

Bless you Clark for your care of us in the dark! I want to tell you I just had a great experience with (your not so fav.big
bank; BOA) While trying to ck my mtg bal on line, an instant msg from a rep.appeared & they helped me so much w/
instant assistance, Sunday night no less! I was sooo impressed w/service. @ my local branch,Cary NC, the reps are most attentive & professional!!

By Denise Birtles @ 05/05/08 10:39:48 AMreport abuse

wachovia rip-off

I am not surprised at wachovia's dealings with individual customers. I closed my account with them years ago when I saw how individuals were treated - as if the bank is doing you a favor! Yes, the Comptroller should be ashamed how he is doing nothing for the taxpayers and not forcing wachovia to give the people their money back. The fine should have been 100 million, no a measly 10.

By charly swier @ 05/05/08 10:36:11 AMreport abuse

Rip Off - Chovia

This is shameful. People need to go to jail ! And, they need to be PRO-ACTIVE in getting money back ... even if it costs Rip Off-Chovia big bucks. Can we e-mail the fed prosecutor involved to shout encouragement ??

By John G. @ 05/03/08 05:18:15 PMreport abuse

Wachovia Sounds a lot like Congress !

By JD @ 05/02/08 09:06:03 AMreport abuse

Do you recommend changing banks if a person has an account with Wachovia?

By Monica @ 05/01/08 07:35:00 AMreport abuse

I think the real story on this site is that Clark continues to own stock in a company whose business practices continue to be unethical. What message are you sending to people Clark?

By Jeff @ 05/01/08 03:42:22 AMreport abuse

no surprise here

All who continue to bank with the nefarious Bank of America or Wachovia are putting themselves in a bad situation and shouldn't be surprised when things like this happen. These two banks are fundamentally dishonest when it comes to overdrafts, so why the shock?

By JH @ 04/30/08 10:35:13 PMreport abuse

Clark,
Since Wachovia's executives' behavior absolutely stinks, (worse than a "double yikes") I think you should not only go to the shareholders meeting and confront the board, you should then sell your stock.

By rennie @ 04/30/08 10:12:37 PMreport abuse

It's a shame people in the news business only report what will give them higher ratings and more commotion instead of the entire truth. Which you back up buy hanging on to your stock.....

By Roy @ 04/30/08 09:18:31 PMreport abuse

I aave issues with Wachovia and leaving
them myself, thanks for the heads up
on their tactics and bringing it OPEN
to the public. THANK YOU !

By Jean K @ 04/30/08 05:38:36 PMreport abuse

I will be going in to close my account tomorrow.

By Erey @ 04/30/08 05:16:31 PMreport abuse

ILLEGAL DRAFTS

I have been with them for a lot of years. I plan to go completely with my credit union. Wachovia has gotten too big for their britches as the saying goes!! I wanted to give them my business because they started here in Winston-Salem. If they take their customers for granted, then I'll do the same!!!!

By kathy m. @ 04/30/08 04:53:11 PMreport abuse

Wachovia is not without its faults but they do get it right sometimes. I check my accounts online daily and found a $560 debit card posting from another area of the state.I called the bank and it was obviously fraud, they had the full amount restored to my account that midnight, which I thought was quite prompt.

By Jorgen Andersen @ 04/30/08 02:40:06 PMreport abuse

This is nothing short of stealing. I hope every day they look at themselves in the mirror they see the word "THIEF"
across their foreheads.

By Alice H. @ 04/30/08 02:25:36 PMreport abuse

Clark - turn your outrage to action. This is at least the 2nd negative story you have reported on Wachovia. When are you going to dump their stock???

By AJ @ 04/30/08 01:36:36 PMreport abuse

$16,000 mistake

Doesn't surprise me - i watch my 81yr old mother's account online with Wachovia. Recently they made a $16,000mistake and will not honor it.

By Wachovia SUCKS @ 04/30/08 01:24:05 PMreport abuse

Wachovia may have been fined, but what about us(The customer)?

Regardless of the company being fined, what about the customers that lost funds due to these illegal drafts. I was never given a explanation or refund regarding missing funds.

By Roslyn Stanford @ 04/30/08 11:59:59 AMreport abuse

watchovia

Clark you stink, I heard you on the radio yesterday and I think if you are so outraged at Watchovia why don't you sell your stocks instead of saying "maybe I will go to the stockholder's meeting next time....."
After all you are an owner of Watchovia it makes you as guilty as them to do nothing, to still owned stock in that company. Did they steal money from your mother too?
But I know you won't sell your stocks because you are too greedy. If you can't even pay a $1.00 for a parking ticket you surely won't unload your stock. It's called greed not cheap.
Something to think about before you go to bed tonight. God gave you millions why don't you do the right thing now by Him.

By carmen strating @ 04/30/08 11:01:29 AMreport abuse

Recently, I wanted to move my money to Wachovia since it was receiving such high marks for customer service. But lately, I've heard one bad thing after another concerning this bank (allowing large checks to be cleared to rack up on overdraft fees of smaller checks; stealing from seniors, etc). I'm sick of businesses advertising as though they are doing the consumer a favor, when we know any "deals" they give us are to benefit them, not us.

By Tia @ 04/30/08 10:16:24 AMreport abuse

Have you seen our web site Wachovialied.com enough customers can fix this problem these big banks have gotton out of hand

By Mark Chambers @ 04/30/08 10:08:53 AMreport abuse

Clark this wasn't a draft scam it was a telemarketing company that processes things for Wachovia that scam our mutual customers. At Wachovia we pride ourselves on being trust worthy to our customers and also protecting them and their assets.

By Julia @ 04/30/08 09:09:15 AMreport abuse

I am 71 yrs old and have every penny I have left in a money market and a checking account at Wachovia. Should I move my money to another back?

By Bonnie Hendricks @ 04/29/08 11:35:18 PMreport abuse

banking

I know clark is not to fond of BoA,but for 10 plus years I have banked with them and they never ever screwed up, online bill pay balance anything, never lost a penny with them, I even get free checking with a zero balance.

By Guy @ 04/29/08 09:24:41 PMreport abuse

wachovia stealing and illegally laundering money for the mob?

What is this all about? I know that this is two separate subjects, but would still like all of the info that you have on them? Exactly how is Wachovia stealing from our seniors? and what about the money laundering that I have heard rumors regarding Wachovia's involvement? Are they really part of the mobs' or drug money laundering scheme?

By rose @ 04/29/08 08:12:22 PMreport abuse

I know that wachovia has very iffy practices when it comes to your money in their bank they look for ways to charge your free account with bogas charges I will never bank with them again

By rick osborn @ 04/29/08 07:54:37 PMreport abuse

"Inactivity" charge

(Small amount of) money in savings. Bank charged "inactivity" fee which they knew was more than the amount in the account. THEN they charged $30+ for "insufficient funds"!!!! We are a small town...went and complained to bank. Money was refunded. (Not Wachovia)

By Gale Erdmann @ 04/29/08 06:44:56 PMreport abuse

I won't bank there and I will tell other not to.

How about a follow up to Attorney General at Dept. of Justice.

By Larry Lowenberg @ 04/29/08 06:43:28 PMreport abuse

Series I Bonds

But you can't invest over $5,000.

By B. Moore @ 04/29/08 06:41:43 PMreport abuse

Appleton, WI visit

I heard your story about the $25 ticket
today and I sent a blistering e-mail to
the Appleton city govt. web site. I hope many other listeners did the very
same thing! Shame on Appleton, WI!

By Patricia McCormack @ 04/29/08 04:20:22 PMreport abuse

Please go to the Wachovia meeting. I have no stock ownership in order to go. I think Wachovia should give back the money, especially since a record exists. Sometimes old people don't want to admit they have been taken.

By Cindy @ 04/29/08 04:16:47 PMreport abuse

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Apr 29, 2008 -- Double yikes! Wachovia fined for illegal drafts

What others are saying