They Just Can’t Get Out of Their Own Way

Image result for WTF Well Fargo

You bank at Wells Fargo?  You enjoyed a couple of days of online outages and app malfunction.  Service has since been restored.  It only took them a few days; no biggie.  What’s the excuse this time for Wells Fargo pissing off customers?

From a Feb. 7th Fast Company article here’s a few dubious claims updates:

Update 3: Wells Fargo released a new statement hoping to quell speculation that the technical issues are the result of a cyberattack:

“We want our customers to know that this is a contained issue affecting one of our facilities, and not due to any cybersecurity event or attack. We apologize for the inconvenience caused by these system issues, and any Wells Fargo fees incurred as a result of these issues will be.

Update 2: After several hours, the bank said it is still experiencing system issues due to a “power shutdown at one of our facilities, initiated after smoke was detected following routine maintenance.”

“We apologize for the inconvenience caused by these system issues, and we want our customers to know that any Wells Fargo fees incurred as a result of these issues will be reversed.”

Update 1: The bank said in a Thursday afternoon tweet the outage was related to a “power shutdown” after “smoke was detected” at a Wells Fargo facility.

We’re experiencing system issues due to a power shutdown at one of our facilities, initiated after smoke was detected following routine maintenance. We’re working to restore services as soon as possible. We apologize for the inconvenience.

— Wells Fargo (@WellsFargo) February 7, 2019

Margin Rich here again.  You believe what they’re reporting about not a cyber-attack?  I don’t for one second.  Wells Fargo has proven, time and again, to employ liars, cheaters, and scam artists.  Somehow this time they’re telling the truth?  Prove it.  Otherwise, WF needs to tighten up their security game.  That’s the problem with banks.  They treat the function of capital custodianship as a right, not a privilege.  Never forget that.


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