When Wells Fargo announced its quarterly earnings Friday morning, it was clear that many of its customers were not exactly pleased.
In recent months, the number of new consumer checking accounts had fallen sharply, which is no surprise for a bank that paid a hefty fine in September for opening accounts of all sorts without customers’ permission. Just for good measure, it’s trying to force customers who want to sue to take their disputes to mandatory arbitration. And in its earnings announcement, the company said that measurements of “loyalty” were going to take awhile longer to recover.
