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#389608 - 07/22/05 04:30 PM Wells Fargo makes lemonade
Al Miller Offline
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Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
Yes, they found a way to profit from their own security breaches by selling credit monitoring at a high price.

http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/07/22/MNGHADS1TL1.DTL&type=business
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Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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BSA/AML/CIP/OFAC Forum
#389609 - 07/22/05 04:47 PM Re: Wells Fargo makes lemonade
Princess Romeo Offline

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Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
Isn't that one of the basic concepts of marketing? Create a need, and then provide a product that meets that need.
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Regulations are a poor substitute for ethics.
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#389610 - 07/22/05 04:48 PM Re: Wells Fargo makes lemonade
Princess Romeo Offline

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Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
Now I wonder what lemonade they can make from their BSA MOU?
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CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

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#389611 - 07/22/05 05:07 PM Re: Wells Fargo makes lemonade
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,754
On the Net
I'm sorry and I understand what they did here. But I envision a sales ad as having some Rocky looking bruiser on the promo piece with a talk-balloon above his head, "Psst. Wanna buy some protection? Uh, you do want to buy protection, don't you!"

And Al, it is good to see your smiling face around here again. Missed you and your better half at the NRCC.
Last edited by Andy Z; 07/22/05 05:08 PM.
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AndyZ CRCM
My opinions are not necessarily my employers.
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Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#389612 - 07/23/05 12:23 AM Re: Wells Fargo makes lemonade
Al Miller Offline
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Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
Thanks for the kind words. We miss going, too. I still get to go to the CA conference, but might pay my own way to ABA next year. If I can collect enough of the glasses of wine promised over the years, my bar tab should not be an issue.
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Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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