Banks use regulations meant to fire corrupt executives... to instead fire low-level employees
Wells Fargo Home Mortgage (WFC) has fired a Des Moines worker over a 1963 incident at a Laundromat involving a fake dime in the wake of new employment guidelines.
Richard Eggers, 68, was fired in July from his job as a customer service representative for putting a cardboard cutout of a dime in a washing machine nearly 50 years ago in Carlisle, the Des Moines Register reported Monday.
Warren County court records show Eggers was convicted of operating a coin-changing machine by false means. Eggers called it a "stupid stunt," but questions his firing.
Big banks have been firing low-level employees like Eggers since new federal banking employment guidelines were enacted in May 2011 and new mortgage employment guidelines took hold in February, the newspaper said. The tougher standards are meant to clear out executives and mid-level bank employees guilty of transactional crimes — such as identity theft and money laundering — but are being applied across the board because of possible fines for noncompliance.
http://finance.yahoo.com/news/wells-fargo-fires-iowa-worker-for-minor-1963-crime.html
This part's kinda 'funny' in a very sad way if you read the article, "There is no government or industry data on the number of bank firings due to criminal background checks." So in other words, banks are more than willing to get rid of low level employees, but we don't know if the law is doing what it was intended to do, clear out the people who caused the mess in the first place. That's just swell, right?
