Wells Fargo and Cheronda Guyton: Call for Investigation

by Collection Agency Hall of Shame Thursday, Sep. 17, 2009 at 9:43 AM

Wells Fargo clearly lacks proper internal controls to prevent abuse of foreclosed property. As bailout money recipients, they have an obligation to the taxpayers.

Wells Fargo would like for you to believe that the Cheronda Guyton incident was isolated.

If one employee could seize control of a foreclosed home, what other abuses are taking place at Wells Fargo?

Wells Fargo should have had internal controls in place that, would, if nothing else, have detected the fact that the house was not being shown to prospective buyers.

Wells Fargo did nothing until people in the community alerted them to Guyton's misuse of the property.

Wells Fargo should be investigated, at their expense, for this. Wells Fargo should be required to implement controls to prevent abuse of foreclosed properties and other assets under their control.

Wells Fargo should go beyond firing Guyton. Wells Fargo should press criminal charges for theft.