Posted by Linda_in_MI on 9/2/12 3:14pm
Msg #432857

Another fall out from mortgage regulations.

Back in 1963, " . . . court records show Eggers was convicted of operating a coin-changing machine by false means."

"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

Reply by MikeC/TX on 9/2/12 4:22pm
Msg #432859

It's unbelievable - he did one stupid thing when he was 17 or 18, and it comes back to bite him 50 years later. Meanwhile, the real criminals in the industry get off without even a slap on the wrist.