Wells Fargo Bucks Pressure, Grants New Loan to Ruger Gun Company

Good for Wells Fargo; especially since I bank there.

Encouraging to to see them kick the issue to the legislative branch, you know where these sort of things should be. That last paragraph has me a bit concerned but I'd put money on the statement was only a damage control effort.

Given the very bad things I've heard about Wells Fargo these recent years I guess they don't have much to lose... Glad to see they're not following recent trends by other big banking outfits scared of liberal press...

Wells Fargolost a lot of accounts after the settlement. They will lend to make up the difference

and if I remember correctly they got caught taking advantage of their customers again... after the settlement...

The last couple of paragraphs highlight the PC culture that drives such weak institutions. This loan will not help them survive, but I hope it benefits Ruger.

What’s the big deal it’s their history they should embrace the gun industry. Didn’t they finance pancho villa ?

My problem with Wells Fargo is that, in the past... they've been caught red-handed -like they WERE Pancho Villa or one of is bandits.... Outfits that deliberately rip off their own depositors - then afterwards put out nice ads about how trustworthy they are... aren't going to get a penny of mine ever again....

Anyone wanting to learn a bit about what they've been up to these past ten years should do a little Google research on them...

That's a revolving line of credit, not a loan. Ruger has no debt and operates on cash. But it is nice to hear a national bank doing business with a large firearms manufacturer.

Wells-Fargo has been repeatedly caught shafting their customers in various ways.

I stopped having anything do with them during the 1987 scandal where Wells-Fargo intentionally delayed depositing timely payments so they could collect late fees on the payments. After that, my opinion was that anyone dealing with Wells-Fargo should have known they were dealing with a a fraudster and charlatan. Anyone defrauded after 1987, should, in my opinion have known who they were dealing with and what should have known what to expect.

Good for Ruger!

That was a very disappointing issue for WF to deal with. We know a few of the staff at local branches over the last 20 years. To learn of the inner workings was very disappointing to say the least and the temptation to pull the accounts was quite strong. Our own banking was not impacted by the lawsuit and ultimately we remain with some accounts there.

Wells Fargo is....well, I can’t say it here. I’d get spanked. I will just say that the company is unscrupulous and I would never trust them. They burned me quite a few years ago and I haven’t given them a chance to do it again.

Glad to see that they are working with Ruger but that doesn’t change my feelings for that organization.