Kid's school brought in Wells Fargo to teach them financial literacy today.

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fortfun
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Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by fortfun » Thu Sep 20, 2018 9:23 pm

Tonight at dinner, my daughter told me her school brought in Well's Fargo to teach them about financial literacy today. At ten, she knows how badly they've treated their customers. She bit her tongue and didn't bring up their misdeeds but I wish she would have. In the end, they all received a certificate of financial literacy from Wells Fargo and a key ring. I guess they want to get them started young. I'm not sure why the school didn't bring in the local credit union or at least U.S. Bank. A Skype with Jack Bogle would have been delightful.

In case you haven't been keeping track, here's a list of their misdeeds:
https://money.cnn.com/2018/02/05/news/c ... index.html

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by GoldenFinch » Thu Sep 20, 2018 9:28 pm

That is pretty shocking. But considering the state of financial literacy among adults in general I guess we shouldn’t be surprised.

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fortfun
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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by fortfun » Thu Sep 20, 2018 9:32 pm

GoldenFinch wrote:
Thu Sep 20, 2018 9:28 pm
That is pretty shocking. But considering the state of financial literacy among adults in general I guess we shouldn’t be surprised.
Yeah, I don't think her teachers had any idea. Luckily, they will be getting a pension.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by Ostentatious » Thu Sep 20, 2018 9:35 pm

Mostly, it is the financial institution that will offer the school some incentives to gain access to the kids. The local credit union won't offer any incentives so they have no chance of getting into the schools.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by mlebuf » Thu Sep 20, 2018 9:40 pm

The old Blood, Sweat & Tears song, "Symphony for the Devil" comes to mind. For those too young to remember, you can read the lyrics and/or listen to it here: https://genius.com/Blood-sweat-and-tear ... vil-lyrics

Over 20 years ago when I was fortunate enough to discover Vanguard and the Bogleheads, I thought to myself, "They are on the side of the angels." Time has reinforced and strengthened that opinion.
Last edited by mlebuf on Thu Sep 20, 2018 9:43 pm, edited 1 time in total.
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fortfun
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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by fortfun » Thu Sep 20, 2018 9:42 pm

Ostentatious wrote:
Thu Sep 20, 2018 9:35 pm
Mostly, it is the financial institution that will offer the school some incentives to gain access to the kids. The local credit union won't offer any incentives so they have no chance of getting into the schools.
Yes, sadly, Josten's was hawking rings at my high school today--giving a piddly percentage of profits back to the class.

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fortfun
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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by fortfun » Thu Sep 20, 2018 9:45 pm

mlebuf wrote:
Thu Sep 20, 2018 9:40 pm
The old Blood, Sweat & Tears song, "Symphony for the Devil" comes to mind. For those too young to remember, you can read the lyrics and/or listen to it here: https://genius.com/Blood-sweat-and-tear ... vil-lyrics

Over 20 years ago when I was fortunate enough to discover Vanguard and the Bogleheads, I thought to myself, "They are on the side of the angels." Time has reinforced and strengthened that opinion.
Good lyrics. Wish I'd know about Vanguard and Bogleheads 20 years ago--I'd have a lot more money today :)

Wish Bogleheads was required reading for all high school grads.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by mortfree » Thu Sep 20, 2018 9:50 pm

mlebuf wrote:
Thu Sep 20, 2018 9:40 pm
The old Blood, Sweat & Tears song, "Symphony for the Devil" comes to mind. For those too young to remember, you can read the lyrics and/or listen to it here: https://genius.com/Blood-sweat-and-tear ... vil-lyrics

Over 20 years ago when I was fortunate enough to discover Vanguard and the Bogleheads, I thought to myself, "They are on the side of the angels." Time has reinforced and strengthened that opinion.
Rolling Stones write that one?

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by TropikThunder » Thu Sep 20, 2018 9:54 pm

mortfree wrote:
Thu Sep 20, 2018 9:50 pm
mlebuf wrote:
Thu Sep 20, 2018 9:40 pm
The old Blood, Sweat & Tears song, "Symphony for the Devil" comes to mind. For those too young to remember, you can read the lyrics and/or listen to it here: https://genius.com/Blood-sweat-and-tear ... vil-lyrics

Over 20 years ago when I was fortunate enough to discover Vanguard and the Bogleheads, I thought to myself, "They are on the side of the angels." Time has reinforced and strengthened that opinion.
Rolling Stones write that one?
Blood, Sweat & Tears covered it in 1970, but the Stones wrote it (Jagger and Richards) and recorded it first in 1968. I had never heard of a cover until I Googled it.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by cdu7 » Thu Sep 20, 2018 9:55 pm

Haha, what topics did they cover I wonder?

Step 1: Get a Wells Fargo credit card
Step 2: Buy as much as you can
Step 3: Just try to stop banking with us now (evil laugh)

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by mortfree » Thu Sep 20, 2018 9:58 pm

TropikThunder wrote:
Thu Sep 20, 2018 9:54 pm
mortfree wrote:
Thu Sep 20, 2018 9:50 pm
mlebuf wrote:
Thu Sep 20, 2018 9:40 pm
The old Blood, Sweat & Tears song, "Symphony for the Devil" comes to mind. For those too young to remember, you can read the lyrics and/or listen to it here: https://genius.com/Blood-sweat-and-tear ... vil-lyrics

Over 20 years ago when I was fortunate enough to discover Vanguard and the Bogleheads, I thought to myself, "They are on the side of the angels." Time has reinforced and strengthened that opinion.
Rolling Stones write that one?
Blood, Sweat & Tears covered it in 1970, but the Stones wrote it (Jagger and Richards) and recorded it first in 1968. I had never heard of a cover until I Googled it.
Only ever knew the Stones version. My world was almost turned upside down but all was good again when I did the google search.

Back to the topic of WF acting like they care about financial literacy.

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fortfun
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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by fortfun » Thu Sep 20, 2018 10:02 pm

cdu7 wrote:
Thu Sep 20, 2018 9:55 pm
Haha, what topics did they cover I wonder?

Step 1: Get a Wells Fargo credit card
Step 2: Buy as much as you can
Step 3: Just try to stop banking with us now (evil laugh)
The worksheet was titled, "Hands on Banking." I think it should have been titled, "Just wait till we get our hands on your money!" :oops:

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by Fallible » Thu Sep 20, 2018 10:51 pm

fortfun wrote:
Thu Sep 20, 2018 10:02 pm
cdu7 wrote:
Thu Sep 20, 2018 9:55 pm
Haha, what topics did they cover I wonder?

Step 1: Get a Wells Fargo credit card
Step 2: Buy as much as you can
Step 3: Just try to stop banking with us now (evil laugh)
The worksheet was titled, "Hands on Banking." I think it should have been titled, "Just wait till we get our hands on your money!" :oops:
Can you provide more details about what was taught? What was "hands on" about banking? Did your daughter learn anything useful?
Last edited by Fallible on Thu Sep 20, 2018 10:54 pm, edited 1 time in total.
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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by AlphaLess » Thu Sep 20, 2018 10:54 pm

What do they teach? Open 7 accounts without telling the customer?
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fortfun
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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by fortfun » Thu Sep 20, 2018 11:02 pm

Fallible wrote:
Thu Sep 20, 2018 10:51 pm
fortfun wrote:
Thu Sep 20, 2018 10:02 pm
cdu7 wrote:
Thu Sep 20, 2018 9:55 pm
Haha, what topics did they cover I wonder?

Step 1: Get a Wells Fargo credit card
Step 2: Buy as much as you can
Step 3: Just try to stop banking with us now (evil laugh)
The worksheet was titled, "Hands on Banking." I think it should have been titled, "Just wait till we get our hands on your money!" :oops:
Can you provide more details about what was taught? What was "hands on" about banking? Did your daughter learn anything useful?
Mostly a bunch of word problems dealing with money. Real basic addition and subtraction that she did in the third and fourth grade. Clearly a PR stunt, to me, under the guise of trying to do good in the community. There are much better tools and resources available to teach this sort of thing. I'm sure it's all part of the master plan to get their reputation back.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by randomguy » Thu Sep 20, 2018 11:07 pm

GoldenFinch wrote:
Thu Sep 20, 2018 9:28 pm
That is pretty shocking. But considering the state of financial literacy among adults in general I guess we shouldn’t be surprised.
Unless they had credit card sign ups for the kids right after the talk, what is the issue people have? Was any of the info remotely controversial? Or is this just a shoot the messenger because you don't like the fact that wells fargo is doing charity work in your community? For all we know they asked every credit union and bank and sent Bogle a skype invite and wells fargo was the only one who stepped up.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by mouses » Thu Sep 20, 2018 11:21 pm

randomguy wrote:
Thu Sep 20, 2018 11:07 pm
GoldenFinch wrote:
Thu Sep 20, 2018 9:28 pm
That is pretty shocking. But considering the state of financial literacy among adults in general I guess we shouldn’t be surprised.
Unless they had credit card sign ups for the kids right after the talk, what is the issue people have? Was any of the info remotely controversial? Or is this just a shoot the messenger because you don't like the fact that wells fargo is doing charity work in your community? For all we know they asked every credit union and bank and sent Bogle a skype invite and wells fargo was the only one who stepped up.
Wells Fargo is a pack of crooks. Do you want a pack of crooks giving impressionable kids the idea that WF are good people to deal with in the future?

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by fortfun » Thu Sep 20, 2018 11:23 pm

randomguy wrote:
Thu Sep 20, 2018 11:07 pm
GoldenFinch wrote:
Thu Sep 20, 2018 9:28 pm
That is pretty shocking. But considering the state of financial literacy among adults in general I guess we shouldn’t be surprised.
Unless they had credit card sign ups for the kids right after the talk, what is the issue people have? Was any of the info remotely controversial? Or is this just a shoot the messenger because you don't like the fact that wells fargo is doing charity work in your community? For all we know they asked every credit union and bank and sent Bogle a skype invite and wells fargo was the only one who stepped up.
They did a lot of financial damage to a lot of innocent people, including our military personnel. I think it is inexcusable for our schools to invite them in to teach our children about financial literacy. Our local university has a financial extension that would have been more than happy to come in an talk to the kids about money. Personally, I don't want my kids to be taught about money by a bunch of crooks. Even ones pretending to be do-gooders. I was swindled out of a couple hundred bucks by the very branch that was invited into the school.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by daveydoo » Thu Sep 20, 2018 11:24 pm

mlebuf wrote:
Thu Sep 20, 2018 9:40 pm
The old Blood, Sweat & Tears song, "Symphony for the Devil" comes to mind. For those too young to remember...
Wait, is this referring to Sympathy for the Devil? By the Stones? Or am I trapped in some BH alternate universe?
"I mean, it's one banana, Michael...what could it cost? Ten dollars?"

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by randomguy » Thu Sep 20, 2018 11:36 pm

mouses wrote:
Thu Sep 20, 2018 11:21 pm
randomguy wrote:
Thu Sep 20, 2018 11:07 pm
GoldenFinch wrote:
Thu Sep 20, 2018 9:28 pm
That is pretty shocking. But considering the state of financial literacy among adults in general I guess we shouldn’t be surprised.
Unless they had credit card sign ups for the kids right after the talk, what is the issue people have? Was any of the info remotely controversial? Or is this just a shoot the messenger because you don't like the fact that wells fargo is doing charity work in your community? For all we know they asked every credit union and bank and sent Bogle a skype invite and wells fargo was the only one who stepped up.
Wells Fargo is a pack of crooks. Do you want a pack of crooks giving impressionable kids the idea that WF are good people to deal with in the future?
No. Wells Fargo hires a bunch of crooks. Doesn't mean that all of them are crooks. I know I wouldn't want to be judged by the actions of some of the people when I was employed in a 25k person company. When the police officer talks to my kids at school about drugs, I don't get up at arms because a couple dozen of them are racists that murder people of color. Again what in the info was remotely offensive? If they are telling you do buy wells fargo mutual funds at 3% ER we can talk. If they are explaining how a credit card works and why you should pay the bill, I am not going to lose much sleep.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by Peppergrass » Fri Sep 21, 2018 12:09 am

why rag on Wells Fargo?

the whole of Wells Fargo didn't wrong people, some people did.. it's not "Wells Fargo" , it's the actions of some working for Wells Fargo that made some very very bad calls and got caught.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by livesoft » Fri Sep 21, 2018 12:18 am

My bank is WellsFargo. For some reason, I've never paid a fee to them, so they have not cost me a dime. They have free accounts and even free accounts for your teenagers.

What financial literacy was actually taught?

Full disclosure: I consider all banks and credit unions to be "a pack of crooks." WellsFargo is not particular special in this way. So while you are avoiding WellsFargo, you may be jumping into the arms of someone else ripping you off.
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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by daveydoo » Fri Sep 21, 2018 12:23 am

Peppergrass wrote:
Fri Sep 21, 2018 12:09 am

the whole of Wells Fargo didn't wrong people, some people did.. it's not "Wells Fargo" , it's the actions of some working for Wells Fargo that made some very very bad calls and got caught.
Nearly all corporate wrongdoing is traceable to a limited number of people. Does that mean that there should never be corporate accountability? After all, it's never everyone. :D
"I mean, it's one banana, Michael...what could it cost? Ten dollars?"

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by tesuzuki2002 » Fri Sep 21, 2018 12:29 am

fortfun wrote:
Thu Sep 20, 2018 9:23 pm
Tonight at dinner, my daughter told me her school brought in Well's Fargo to teach them about financial literacy today. At ten, she knows how badly they've treated their customers. She bit her tongue and didn't bring up their misdeeds but I wish she would have. In the end, they all received a certificate of financial literacy from Wells Fargo and a key ring. I guess they want to get them started young. I'm not sure why the school didn't bring in the local credit union or at least U.S. Bank. A Skype with Jack Bogle would have been delightful.

In case you haven't been keeping track, here's a list of their misdeeds:
https://money.cnn.com/2018/02/05/news/c ... index.html
Atleast they are doing something regarding financially literacy. Hopefully it was not geared toward ethical business practices.

WFC is still practicing old tricks. I opened a business checking account and a personal checking account there back in March. They were offering $500 bonus so I took it on. I wanted to switch and switch back anyway. In June, come to find out two savings accounts were also opened in my name, which I knew nothing about....

Needless to say, the 6 month period I needed to keep the account open for to retain the bonus is coming up in 2weeks. I’ve already created my requests to close all 4 accounts of which 2 they allowed to be fraudulently opened.

Same old dog, doing the same old tricks.

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by tesuzuki2002 » Fri Sep 21, 2018 12:30 am

livesoft wrote:
Fri Sep 21, 2018 12:18 am
My bank is WellsFargo. For some reason, I've never paid a fee to them, so they have not cost me a dime. They have free accounts and even free accounts for your teenagers.

What financial literacy was actually taught?

Full disclosure: I consider all banks and credit unions to be "a pack of crooks." WellsFargo is not particular special in this way. So while you are avoiding WellsFargo, you may be jumping into the arms of someone else ripping you off.
All financial institutions are crooks! +1

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by A440 » Fri Sep 21, 2018 7:37 am

I teach a Teen Finance and Stock Market Game as a 7th grade elective. Part of the Stock Market Game offered by SIFMA Foundation (https://www.sifma.org/about/sifma-foundation/) includes an optional visit by a financial professional. The only person I ever had visit was a CFP who was a father of one of the kids in class. I asked him to come in when the class was learning about professions in the financial industry.
The Stock Market Game is a fun way to teach kids about Stocks, Bonds, Mutual Funds, Dividends, Compounding, Interest, etc. They provide a series of lesson plans which is a good starting point for teachers looking to incorporate financial literacy into the school curriculum.

Here is a link to the game: https://www.stockmarketgame.org/

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Re: Kid's school brought in Wells Fargo to teach them financial literacy today.

Post by LadyGeek » Fri Sep 21, 2018 7:44 am

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