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BEWARE OF WF BANK
Tuesday, September 23, 2014 2:55
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HE TNT TONY CALL WILL BE AFTER……AFTER 5 PM EST
wells fargo bank NA rating has been degraded from C- to D+ by http://www.weissratings.com/banklistthis group advised people to move their money out of any WF branch
Dear xxxx
As you’ve requested, the Weiss Watchdog is monitoring the rating of a company for you, and we’re writing to let you know that the rating of that company has just changed. Here it is… WELLS FARGO BANK NA Was Downgraded to D+ from C- This is our FINANCIAL STRENGTH rating, designed to measure the financial safety of the company itself. So please do not confuse it with INVESTMENT rating which would evaluate the risk and reward of investing in a company’s stock or in a particular mutual fund. The new rating is D+.
As you’ve requested, the Weiss Watchdog is monitoring the rating of a company for you, and we’re writing to let you know that the rating of that company has just changed. Here it is… WELLS FARGO BANK NA Was Downgraded to D+ from C- This is our FINANCIAL STRENGTH rating, designed to measure the financial safety of the company itself. So please do not confuse it with INVESTMENT rating which would evaluate the risk and reward of investing in a company’s stock or in a particular mutual fund. The new rating is D+.
This means that the institution currently demonstrates what we consider to be significant weaknesses which could negatively impact depositors or creditors. In an unfavorable economic environment, these weaknesses could be magnified. The plus sign is an indication that the institution is at the upper end of the letter grade rating. This downgrade is a “red” warning signal. It throws your institution into a “vulnerable” category, which implies a higher chance of future financial difficulties than most people are comfortable with. That’s not good. But before you act in haste, let’s walk through a few questions. FIRST question: Do you have more than $250,000 with this institution?
(If you have a CD, be sure to include interest. And if you have a checking account, be sure to include the amounts for checks outstanding that have not yet cleared.)
(If you have a CD, be sure to include interest. And if you have a checking account, be sure to include the amounts for checks outstanding that have not yet cleared.)
If so, you could lose most or all of your money that’s over the $250,000 limit. So we recommend you AT LEAST withdraw the excess amount and move it to another FDIC-insured institution, ideally one that’s on our “Strongest List” (with a Weiss Financial Strength Rating of B+ or better. (For our most current list, visit http://www.weissratings.com/banklist.)
SECOND, do you rely on this institution for other business? If so, you may not want to risk the inconvenience and potential business disruption of a failure. There are many banks to choose from. Why not choose a safer one? Again, for a good cushion of safety, we recommend the banks or credit unions with a Weiss Financial Strength Rating of B+ or better, which you can find atwww.weissratings.com/banklist.
THIRD, will you be charged a penalty for early withdrawal? If so, consider waiting until the penalty period has passed. We trust that covers all the main issues. Stay tuned. We’ll send you another e-mail as soon as there’s any rating change in any company on your Watchlist.
Best wishes,
The Weiss Watchdog Team
The Weiss Watchdog Team
Source: http://nesaranews.blogspot.com/2014/09/beware-of-wf-bank.html
