PATRICIA R. CALLAHAN
Senior Executive Vice President
Chief Administrative Officer
Wells Fargo & Company
420 Montgomery St.
San Francisco, CA, 94163
Dear Patricia R. Callahan:
I realize as a small business owner located in Clearwater, FL with relatively small deposits in comparison to other WF small business customers that I have little if any influence with respect to bank policy and other decisions that affect the manner in which America's banks choose to do business. However, in light of the disparaging realization that Wells Fargo, along with a few other banks, is embarking on another path that further impairs an already suffering middle class is cause for great concern.
At a time in America’s history when unemployment is at its highest in decades and recovery has been slowed by the actions of an immature Congress, imposing fees for the use of debit cards is not only an added burden to millions whose burdens are strenuous enough, it is destructive to small businesses nationwide. As a small business entrepreneur whose customers are mostly unemployed due to recent economic travesties and of them, the many who choose by necessity to pay for my resume writing and career coaching services with their debit cards will be further negatively impacted by yet another unnecessary, some would say greedy, money making tactic.
America remains burdened with staggering numbers of unemployed Americans. Although, it is true that approximately 90 percent are employed (these are known of estimates) of which most will not be severely impacted by an addition $3.00 monthly charge, there are some 15 million for whom $3.00 may be the cost of a meal for them or the children. Let me reiterate; it is not that $3.00 is a tremendous burden on the majority; it is however, another of “who knows what” will come after.
I urge you to rethink this untimely initiative. America’s banks have earned the new regulation or protections passed by the Senate and Congress by taking part in what was the straw the “broke the camel’s back” and resulted in an economic tsunami unlike any since the Great Depression. Such initiatives, like charging bank customer for the use of their debit cards is like punishing the hero that saved your life. Irrespective of global earnings, the American people were and continue to be your biggest cash flow resource. It is theirs and the deposits of small businesses that create the cash flow banks lend at interest. Albeit, there are other sources of revenue for banks, it begins with the American people. In fact, as easily as the American people support yours and other banks in this great land, they can reduce your shares to penny stock values just as easily.
I urge you to reconsider such “I’ll get even with the new regulation and control” plans and get back to embracing the very resources, the America people, which are the prime reason for what Wells Fargo is today.
Thank you for taking the time to digest the above,
ARNOLD SHERR, CEO
The Resume Store
Senior Executive Vice President
Chief Administrative Officer
Wells Fargo & Company
420 Montgomery St.
San Francisco, CA, 94163
Dear Patricia R. Callahan:
I realize as a small business owner located in Clearwater, FL with relatively small deposits in comparison to other WF small business customers that I have little if any influence with respect to bank policy and other decisions that affect the manner in which America's banks choose to do business. However, in light of the disparaging realization that Wells Fargo, along with a few other banks, is embarking on another path that further impairs an already suffering middle class is cause for great concern.
At a time in America’s history when unemployment is at its highest in decades and recovery has been slowed by the actions of an immature Congress, imposing fees for the use of debit cards is not only an added burden to millions whose burdens are strenuous enough, it is destructive to small businesses nationwide. As a small business entrepreneur whose customers are mostly unemployed due to recent economic travesties and of them, the many who choose by necessity to pay for my resume writing and career coaching services with their debit cards will be further negatively impacted by yet another unnecessary, some would say greedy, money making tactic.
America remains burdened with staggering numbers of unemployed Americans. Although, it is true that approximately 90 percent are employed (these are known of estimates) of which most will not be severely impacted by an addition $3.00 monthly charge, there are some 15 million for whom $3.00 may be the cost of a meal for them or the children. Let me reiterate; it is not that $3.00 is a tremendous burden on the majority; it is however, another of “who knows what” will come after.
I urge you to rethink this untimely initiative. America’s banks have earned the new regulation or protections passed by the Senate and Congress by taking part in what was the straw the “broke the camel’s back” and resulted in an economic tsunami unlike any since the Great Depression. Such initiatives, like charging bank customer for the use of their debit cards is like punishing the hero that saved your life. Irrespective of global earnings, the American people were and continue to be your biggest cash flow resource. It is theirs and the deposits of small businesses that create the cash flow banks lend at interest. Albeit, there are other sources of revenue for banks, it begins with the American people. In fact, as easily as the American people support yours and other banks in this great land, they can reduce your shares to penny stock values just as easily.
I urge you to reconsider such “I’ll get even with the new regulation and control” plans and get back to embracing the very resources, the America people, which are the prime reason for what Wells Fargo is today.
Thank you for taking the time to digest the above,
ARNOLD SHERR, CEO
The Resume Store
Looking forward to getting back into blogging and what better way than doing this challenge to raise awareness. Thank you for hosting!
Posted by: stock item | 11/07/2011 at 10:25 PM
Good day! this is one of the most interested statement I have heard anyone said. I have always say to myself there are no rules telling us what to do, but rules telling us what not to do. We need to start making rules telling us what to do and we will see how creative our world would be. thanks,
Posted by: gclub | 10/11/2011 at 04:14 AM