US Bank exposed - auto loans - Part 5 of 5

[largekid04]

funny, if someone misses a payment on a loan then there are consequences. thanks for the deep and thoughtful insight. you are type of guy who blames the police officer for pulling you over for speeding. enjoy being insignificant.

[jwerner79]

@largekid04 There are multiple parties legally bound to a contract of any kind of loan, in which payments are made. Banks themselves admit they constantly default on contracts - usually on purpose - so much that they use fake witnesses in court. If they did not need fake witnesses in court, then why do they use fake witnesses and create fake documents to commit fraud on the courts if they are the victim and they did nothing wrong??? The system they create is screwed up.

[Ebenoozen]

@largekid04 Nooooo...  To truly make your comparison accurate, the police officer would have had to "monkey" with the speeder's accelerator, to make it stick, so that he WOULD speed...

[KaiserVadin]

Companys focus on customer service seems to be confusing to companys like at checkouts if thats the most important thing in the store for the customer WHY in heck do you have one bagger and 8 checkouts open it does not make any sense !

[inspirediam]

What is lacking is when we do not individually take responsibility for how our individual participation manifests the reality we experience as a whole. Do not give your business to the big banks, keep your business local. Move your money to your local community banks. You do have the power to make the change. Do not look to government to do this job for you. Educate yourselves, share ideas, and be the change.

[dmpatton1]

Could it be with all the different type of products bankers have they can't do all the underwriting and regulations for each type of product so they create areas that concentrate on one certain product to avoid a banker making a mistake and writing a credit line for someone that doesn't qualify? I mean for example, bankers in branches wrote all the Home Mortgages and Equity Lines? Do we want those same people responsible for every financial product?

[jwerner79]

@dmpatton1 I agree with you that the specialists should be dealing with their areas of expertise, where they were trained. I may not have explained it thoroughly enough in my video, but my problem with their system is that they want the bankers to originate, but they get no future credit for it. Plus, there is a reason for it.

The Reason: many banks do this to win a battle over the car note in their ponzi scheme of defrauding their investors. They don't hold the notes. They just want to steal.

[dmpatton1]

@jwerner79 Name a financial institution that actually holds really any financial loan product. They are all bundled and sold as securities. Currently the government is buying a majority of those securities and re-selling them at a later date with a guarantee as to avoid more of the mortgage financial product. What your describing is only a small part of how the whole financial world works and calling it fraud where as its more complicated then that and cannot be described in one word.

[jwerner79]

@dmpatton1 Most credit unions own and hold their own paper, which is why you will rarely see them file lawsuits against their customers: They simply do not want the collateral while the FDIC-member banks do.

Two of the cleaner FDIC-member banks though include Hudson City Bancorp and Third Federal Savings & Loan; they actually own and hold most of their own paper, with the lowest default rates in the industry. I've personally reviewed many of TFSL's customer's financials: Never saw fraud.

[jessejmorris2nd]

It sounds like its all the banks fault. Sounds like I should start puting my money in the coffe can and start paying every thing in cash.

[jwerner79]

@jessejmorris2nd That's a good idea. Also, credit unions are usually good options or even doing business with people rather than crook banks.

[jabb11930]

If you were doing your job correctly, you could have called the consumer loan department and helped any customer with anything on an auto  loan, credit card, etc. Again, you're a moron. Hopefully your new employer (assuming you found employement)comes across these videos....

[jwerner79]

Tip: Be sure to take these videos viral, so maybe my new employer will see; and you can look good when I get fired by my new employer.

As for calling retail services, remember, we at the branch level are their puppets to rip off customers, thanks to Jerry Grundhofer.

[smithwicktom]

Thanks for the post. Check this line...if value is created by individuals, then why do banks, credit issuers, fed reserve, etc. centralize, the disemination of this value away from the actual source, you and I? their answer is profit. Our answer is to restore truth to commerce, sell everything in "human hours," measured from mining to production, to transport, to mouth, to landfill, total human investment in hours. then exchange your productive hours for products desired in 'human hours.'

[mortech100]

Credit card department for example has Phone payment (like wonder boy says) ALSO u can make payments for your cc at the branch. u can set up auto pay so u never get any late fees. u can mail your payment in ( way more risky cause of mail service but still another option) this guy has not one clue wtf he is talking about !

[jwerner79]

Correct, you are talking about credit cards, but I was talking about auto loans, which is a problem nearly everywhere in the industry.

We absolutely were not able to work with borrowers regarding auto for certain situations; we only had the ability to take a payment. That's it.

Thanks,

Jason

[osgood4060]

If you dont want to pay interest or deal with the banks then pay cash!

[jwerner79]

People pay interest, but the point here is that banks lie.

US Bank, although it's one of the few ethical banks, is involved in fraud.

The people should be able to do business with banks in an honest way for all parties involved. Truly, there are honest banks in the country, but not many.

In the videos, I merely gave my account of the fraud around me when I was an employee.

Thanks,

Jason

[tgz1000]

There are honest banks? Where?

[jwerner79]

I know of 2: Third Federal Savings & Loan and Hudson City Bancorp. If anyone else knows of any others, please let me know.

Thanks,

Jason

[osgood4060]

wow, the bank takes back something if you dont pay for it. shocking.

[jwerner79]

"takes back something"? What would the bank be taking back?

Thanks so much,

Jason

[osgood4060]

I dont think that was unclear.  You take out auto financing or a loan secured with that vehicle or its collateral. You dont pay, that collateral is retrived to satisfy as much of that debt as possible.

[jwerner79]

You missed the point.

My point is that there is nothing to take back because the bank never owned it in the first place, therefore it is not a REpossession, whereas it would be considered a possession.

Banks often use this lie that they are taking something back, as if they previously owned it. That misrepresenting the law and their own place in the transaction.because they're saying they were the previous owners. It's a common misconception all throughout America. Got it?

Jason

[jwerner79]

Yes, branches do write auto notes for individual customers, but corporate wants to pull the large lots out of the branch. You need to listen to what I said again (it has not been edited).

As for the bonuses, I remember the third-party surveys. In fact, I always scored high, but we did not receive quarterly bonuses for those in 2004. Maybe they do today.

Thanks,

Jason

[theunben]

I don't know what you even mean about the fact that we don't do auto loans at our branches. I do about 3 each week. and...While you are talking about bonuses, we also get a bonus for building relationships to a point that our customers would give us great scores when asked by a third party about their overall satisfaction. Customer Service levels are directly correlated to how much the manager at the branch cares about customer service. You said you were the manager? Hmmm...

[matt32539]

It seams so ingrained in us that we get a loan we pay interest but through out history they realized that this impoverishes people and make them virtually slaves and has been made illegal time and time again, but the banks keep at it and eventually they slip a law in and this is where we are now because of it. Things wouldn't cost as much and therefore we wouldn't need loans if it were not for banks.

[icedragonz210]

This is so dumb. I don't understand what is being "exposed" here. Everything mentioned here is just common sense. OF COURSE when you don't make payments on the thousands of dollars you borrowed, the bank will take the car away! It's a "rip off" when somebody borrows thousands of dollars and doesn't make at least the MINIMUM payment due each month.

[idman83]

This looser must have been fired All the banks do it the same

[PlatinumGordon]

This is why Jesus Christ banned dept useary. Turns men into slaves.

[stonerj0e]

what is dept ? is that short for department ?

[ckekinit]

I knew a guy who had a loan that was set up against his home incase he was to drop dead he would be able to help out his wife and kids. Anyhow, He is still alive and kicking. So, back in 2004 he wanted to close it out and get that letter that said it was paid. It took the bank months to find out where it was. The Branch Manager after finding it said "The Sh*t is going to hit the fan one day"...and here we are.