this post was submitted on 08 Aug 2023
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Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach (www.cnbc.com)
submitted 1 year ago by [email protected] to c/[email protected]
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Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach::Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.

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[–] [email protected] 7 points 1 year ago (2 children)

They'll just pass it along to the customers though, that would have to be made very illegal first.. and even then they'd probably do it anyway and blame it on the tellers. In the sea of illegal things Wells Fargo has already done that wouldn't even make a ripple.

[–] Kecessa 2 points 1 year ago

Can't pass anything to the customer if your business got closed by the authorities.

[–] [email protected] 2 points 1 year ago

They can pass whatever they want on to the customer; as long as they follow the rule of law. If they charge too much, their buissnes idea was unsound and will most likely be done better by a competitor.