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brahbruh 4 points ago +4 / -0

Investments and insurance has never been FDIC or SIPC insured. This is just a standard disclaimer that's been in banking for decades.

That said... IMHO, Wells Fargo is trash.

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ghost_of_aswartz [S] 2 points ago +2 / -0

Oh ok, I thought it was

Either way, I've never used those products at wells fart and go

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RentFreeCrisisAct 2 points ago +2 / -0

Are they revoking FDIC or am i misunderstanding it?

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King_of_Crazy 4 points ago +4 / -0

A notice that "YOUR" imoney s not secure, safe, protected anymore.

Watch out for that bail in!

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Helloworld0 2 points ago +2 / -0

They recently stole Wendy Williams's fortune as well.

https://news.yahoo.com/wendy-williams-still-barred-accessing-154636368.html

There is a huge scam system in California and NY where you can just be declared incompetent and have everything stolen, all your rights removed.

That happened to Britney Spears (she is still in a mini Conservatorship and will never be free given the amount of money involved... she would have been a billionaire just from perfume sales.). Wendy Williams supported Britney, said Jamie Spears should burn in hell and then suddenly Wendy's show was canceled.

Some actor of Jackass... Bambam? Is also a kind of weird prisoner. I havent really followed how they trapped him though

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RentFreeCrisisAct 1 point ago +1 / -0

So they ARE saying that? Wow.

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King_of_Crazy 1 point ago +1 / -0

Indeed.

I dropped WF 2 years ago.

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repeatoffender 3 points ago +3 / -0

Investment products are not FDIC insured at any bank/brokerage. FDIC insures your checking and savings account. If you buy stocks and bonds through WF, those are assets you own which they hold in your name. I don’t think you lose those if WF goes out of business the way you can lose cash deposits.

This disclaimer that “investments” are not FDIC insured is the same at every bank I’ve used.

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ghost_of_aswartz [S] 1 point ago +1 / -0

It seems they should insure investments like any other account. Not counting the depletion, disintegration, insolvency of the investment itself but against the value of the investment held. In other words, if you invested 10 dollars and it got 'hacked' and gone, they'd insure that, not insuring that the 10 dollars wouldn't turn into 0 dollars because of normal market effects of unfortunate business (ie insolvency, bankruptcy)

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Mad_King_Kalak 1 point ago +1 / -0

Only for investments and insurance, but it's always been like this.

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InfidelCastro11 2 points ago +2 / -0

Does this include banking? Was it insured or guaranteed before?

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King_of_Crazy 0 points ago +1 / -1

Was, (past tense).

There is no FDIC protection.

GET OUT OF WF NOW!

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ghost_of_aswartz [S] 1 point ago +1 / -0

This is another reason to convert fiat to gold (buy gold) and keep it yourself and use homeowners / renters insurance to insure it like any other possession --OR--put it in a gold depository that is insured.

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deleted 1 point ago +1 / -0
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Cheesemaker 1 point ago +1 / -0

Isn't this referring to their investment and insurance products and not their banking services? Investment products and insurance products have never been FDIC insured...

This post looks like nothing unless I'm missing something...

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RentFreeCrisisAct 1 point ago +1 / -0

Even with all of the economic well wishers on here, my trust in banks remains minimal at best.