ech0Aug 9, 2023

Wells Fargo is worth 163 billion. That $200 million fine is literally 0.12% of their Net worth.

In comparison

The average US salary is $59,428. £A parketing ticket on average is about $80

That parketing ticket is 0.13% of that Salary.

So this “fine” is in fact cheaper than a parking ticket.

Show threadgirlfreddy

Yup. The fines should be 10-20% of profits for the time period, per charge, depending on the severity.

That would got their gd attention.

Aug 9, 2023 at 7:20pmWeb
Show threadeldaviAug 9, 2023

That would got their gd attention.

it always gets their attention and then they pay people to lobby our government to get a lowered; which also always happens.

Show threadIgnisnexAug 9, 2023
Never profits, always revenue. Profits can be gobbled up by some internal bonus or “future investment in a project”, thus making it $0. Revenue is all the money generated before allocations and expenses come out. Much harder to weasle out of.