Washington Mutual News and Happenings.

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I wonder how many people have been short-changed regarding the interest WaMu pays?

I see the trick WaMu Pulled. The goverment regulated way of calculating interest is called API. Recently I've noticed several instances of APY from various banks and credit companies. It's their little legal out. They use some other method and the other number they quote is the API.

I have a separate scam from WaMu myself this moth. They bought my mortgage, changed the account number and rejected electronic payment. They refused to talk to my bank, as a "3rd Party" when the payment was refused, and decided to notify me by snail mail so that I could not get the payment in before penalties were due.

Interesting that you contacted Kerry K Killinger last November, in April Fortune quotes him on his high ethical standard and using the test "Am I comfortable with my Mother reading this in tommorrows Newspaper. He seems to have 2 addresses, Milwaukee, and Seattle. I suggest a letter to the editor in all the local papers at both cities might get his attention.

I worked for WAMU some years ago, it is a sweat shop. The payments areally bad and they disscriminate, the bonus is almost non existant. Go apply somewhere else

Well all of these comments are from people else where other than GA and WaMu have a pretty good rep in GA. So ill take a chance and they pay more than 9 dollars in GA @ WaMu

And this is not the BBB so stop complaining because noone here really cares

eddyschrank in Chicago, Illinois said: Ha ha . thats pretty funny. I;ve worked there for a while and I do not like it much thats for sure. I just can't seem to get a head. I want to work at another bank but I don't know if it will be any different.

Bank of America is a very good bank to work for! I have been working there for 3 years and my 2 sisters are deals with people loans there. I had problems with WAMU also, they have really bad customer service, and they mislead u you about the interest rate. DONT GO TO WAMU!

idezine in Arcadia, California said: Thank you.

Perhaps it is a stretch to be discussing a potential Truth-in-Lending violation on a job board. But then, I used to work for Symbol Technologies, a $10.8 billion, Fortune 1000 company headquartered on Long Island, which was guilty of legal violations. The ship didn't sink overnight because of them, but eventually I was impacted by a 700-person layoff in 2005, my husband and others were let go in 2006, and as of a week or two ago, Symbol no longer exists. It was acquired by Motorola -- which may be great for those who are able to stay, but we all know that many others will be getting their pink slips.

So forgive me if you really are speaking for everyone when you say that no one wants to hear this. Illegal and/or unethical business practices can bring a company down. If I had two offers and WaMu was one of them, I would want to know this.

What do you know about a Truth In Lending Violation? Anyone criticizing WAMU on this board should be banned .

After reading comments on indeed.com about all sorts of companies, I am surprised that the comments (since they are mostly complaints) get amazingly down to the truth for the companies I know about. (Microsoft =stress, long hours and backstabbing, UPS = people screaming at you, WaMu = large company that doesn’t care about people anymore and is laying off everyone they can.)

Here is my experience after working at the corporate offices. At WaMu they don’t even pretend that people count any more, it is all about profits. Jobs are constantly going to India or other places where people costs are cheaper.

A friend who is still at WaMu (an underwriter with years of experience) will be training her “India Buddy” in the next few weeks. Her division laid off hundreds in the last few months, and it looks like her job is going to go to her new buddy.

This is true of other large companies as well, and not unique to WaMu. Unfortunately.

Dear Bob in Dallas, Texas,

You ask a valid question: What it is like to work at WaMu, instead of all of these people trying to tell their horror stories about WaMu.

The answer is:

This is it!
No matter where you go, whenever you tell someone where you work, you hear the horrible customer stories that they have with WaMu. Just like on this blog. I was trying to vacation in Europe, and had to endure a fellow traveler tell me in detail how WaMu has ripped her off.

One of you suggested we take our money out of WAMU and invest elsewhere. My problem is that WAMU will not release funds from a matured CD, throwing obstacle after obstacle in my path. The money has been sitting idle, collecting no interest, for almost two weeks while I still try to get it. WARNING: Do Not invest in anything with WAMU.

Ed said: One of you suggested we take our money out of WAMU and invest elsewhere. My problem is that WAMU will not release funds from a matured CD, throwing obstacle after obstacle in my path. The money has been sitting idle, collecting no interest, for almost two weeks while I still try to get it. WARNING: Do Not invest in anything with WAMU.

I would like to add to my previous comment about WAMU. I have been trying for over 30 days to obtain the money from a matured CD. WAMU keeps throwing obstacles in my path, giving excuses, not answering my requests. losing written correspondance. making promises that they do not keep, etc. I have concluded that someone in that organization has run off with my monty . I have contacted the FDIC and the local police.

To be EFFECTIVE in your complaint about Banks or Money Institutions, write to Bank Comptroller of Currency, Wash DC or Office of Thrift Supvr., Dept of Treasure,
P.O. Box 7165
San Francisco, CA 94120-7165.

You both will be heard. They will reply to you by LAW.
With Major Corp, when you write the CEO / Pres Ofcs. is akin to talking to an empathetic stranger. (They don't really care or do much) for your complaints/ cc: Copies to Board of Directors, Investors Board, Wall Street Journal, Barons. The CEO's DON'T Like this at all. Try it. Then they prioritize your complaint.

As for WaMu the CHEATING Bank. Not unusual. Look at the human product Banks and other Critical Number crunchers are hiring. They're DUMMIE Downed name sake Mgrs. and VP's of
stupidity. They don't know how to calculate interest rates.
Challenge the $30/$50 hrs. research. Watch them adjust their attitude. I did it. They didn't do squat of 15 min. research and CREDITED my acct. Either way it's WORTH it.
You are probably more than RIGHT. Go for it. You have fallen into their baited bluff / trap with you backing off the threatening fee.
To REALLY Embarrass them, take your calculations to Small Claims Court. You Will Win. Send it to the Major Newspaper.
That's when they write you, call you from the Pres. office and kiss all the pimples on your (sp) dairier. to apologize for the error (typo LIE). DO IT!

Back office Mgrs. & straw accountants, they don't pay them anything much.What do we expect??????
Some instances from the CEO downward, they're Political Junkies who TALK and Know the kissing order and cant use a calculator.

Remember, your and our monies MUST proceed to the TOP Dog(s)and NOT your Interest bearing accts.

Gene S.

I've been employed as a retail bank recruiter with WaMu most of this year. I'm a contractor, though and my contract is ending this month. Nevertheless, I'm not bitter, I've been very impressed with WaMu retail banking. The benefits are excellent, the pay is fair. Some banks pay their tellers better, but personal bankers and managers at WaMu can make much more than most other banks because of incentives that are uncapped. It's a casual, fun environment, no suits and ties, people are promoted from within and growth opportunities abound. Just like any retail business, it has high turnover in the entry-level positions. Based on the many people I've interviewed from every other bank in town that want to come to WaMu, they've got something right, because people are lining up to work here.

Thanks for the info Gene. I have done just what you have said. Ed

You should definitely report this to the Office Thrift Supervision. WAMU us cheatubg you and probably breaking the law. I have had a long run-in with WAMU and caught them with the "smoking gun." Office of Thrist Supervision
Consumer Affairs Dept.
P.O. Box 7165
San Francisco, CA 94120

Host said: What do you think -- is this company going to survive and thrive? Are they looking to expand their staff, or do you think layoffs are inevitable?

How does Washington Mutual stack up against the competition?

I worked for WAMU for 6 years, I transferred from New York to Georgia because WAMU was coming into the Atlanta Markets for Commercial Lending. After 2 months, I was told I was being laid off, I was surprised based on the fact, I was told I would be busy in my new job, I supported people in Florida not Georgia, they decided to close the Atlanta office, I was told I would no longer have a job, and the people I supported in Florida were not laid off, I was not offered a job in Florida, I was just told I was being laid off as of January 31st. WAMU has put me in a bad situation without any type of compassion from the management located in Denver, Texas and Chicago. I am very disappointed that I was lead to beleive I would have a secure position in Georgia, I am now left without a job and expenses which I had to put out for the move. I forgot to mention I was the top processor and received a achievement award as well for work performance. I hope WAMU survives just the same and I wish all of the employees left behind well. I do not believe that WAMU has annouced they have laid off many people whose last day will be January 31st.

can anyone give me the e mail, direct phone number or address of this jerk they call a CEO at WaMu????

I have an address for you.

Washington Mutual
P.O. Box 1147
Northridge, CA 91328

These crooks tried to cheat me out of my matured CD and interest but I took my case to the Office of Thrift Supervision. I got my money and interest eventually. Good luck on your efforts.

Be sure to write to:
Office of Thrift Supervision
P.O. Box 7165
San Francisco, CA 94120-7165

I worked there for over 4 years...when we outsourced to MANILA PHILLIPINES (NOT INDIA) we had focus groups talking with upper management about the stresses and strains of the outsourcing, they basically told us too bad, that the company put into consideration that they are incompetant and that it may take 4-5 calls of a customer to get the right answer verses only calling the U.S. 1x to get the right one. They are saving $10,000.00 per employee/year for doing the outsourcing so they think it is worth sacrificing intelligence and accuracy and are willing to vocalize it to their U.S. employees that could soon lose their jobs. They change their bonus structures around almost quarterly to ensure little money is being paid out, and try to control what goes on in the call center as far as who is friends with who, who gets fired for what, even if 2 individuals do the same thing, one could be spared if they are friends with A boss. Or if a female boss is obsessed with you and rants about having your child on myspace when the male is at least 10 years younger...TRUE STORY...they will not be fired...but later down the line someone that was involved in doing something against company policy with that male was fired...go figure.

We have had nothing but trouble with Washington Mutual. They lost payments and instituted foreclosure proceedings. It took fifteen months to find our payments. During which time our loan was put in suspense. We sold this property on October 13,2006, yet it still appears on our credit reports. They are inept and rude and apparently are unable to do basic bookkeeping. We have lost money and valuable time.

Many people, including myself, have had terrible problems with Washington Mutual. May I suggest that you write to:
Office of Thrift Supervision
P.O. Boc 7165
San Francisco, CA 94120-7165.

They have open files in WAMU problems and would like to hear from you.

Good luck

I worked there too some years ago and you are spot on. Almost nobody I worked with is there anymore because either they wised up or lost their jobs due to layoffs or the such. It is a white collar sweatshop and the bonuses are ghost.
Not only that, their software is a outdated and user unfriendly. Absolutely,
they do discriminate. Do save yourself the stress and aggravation and apply elsewhere. The company is not sound. At least two banks near me have shut down.

It was the least happiest office I have ever worked in.

Here is your third comment. I am trying to pay off a mortgage and also am being charged a Recoverable Balance and cannot find out why. It is not in my original mortgage agreement and I have nothing escrowed so it is not related to that. I am trying to get an answer!

Bob in Dallas, Texas said: OK, this is a job board, anyone have anything appropriate to say, about WORKING at WAMU?

Bob

wa mu sucks

yeah they suck

WaMu is the worst credit card company ever. I had WaMu account for a few months. First balance I paid in full, the second one I paid everything except for ~200$. Now they are charging me finance charge for the balance I paid in full (they call this previous cycle finance charge) and for the balance I paid off except for 200$ (current finance charge). This is insane. I talked to the person from WaMu and she said that if I don't pay balance in full this time, she will be charging me the same finance charge she already did but now it will be as “previous cycle” finance charge. I will just pay them off and close the account in order to avoid more hassle.
DON'T EVER OPEN THE CREDIT COUNT WITH THEM. EVEN IF THEY GIVE you 0% financing. This was my reason to open the account. It turned out since I did not make any balance transfers within first 3 months they automatically raised the APR to 8.99%. Also now I do not have the option to make balance transfers anymore. The option is just to lure people to sign up.
Without any notification my APR is already 9.11%???!!!! I did not miss any payment. Save yourself hassle in the future transfer the balance to some other credit card and close this account.

FormerWAMUmanager in Denver, Colorado said: I worked for Wamu in Bellevue, WA for 10 years – before they moved positions to India and Downers Grove to save office lease and labor costs.

I was one of your underlings at Bellevue. I wasn't sure how in the world you managed to keep your work current until I noticed you working at 1AM one evening/morning. Funny, I was there with you so I do understand the workload. I hope you are happy where you are now. I am back in school to become an accountant and hopefully get into financial fraud detection. I tried to put a stop to fraud while I was a loan auditor with WAMU in 2007, but got written up becuase I was taking too long with the loan and it should be funding. It was later discovered that the woman that took the loan was dead and her 2 daughters were frauding the bank with fake documentation. I saw it!!!!! And I couldn't stop it. I just got in trouble.
By the way, I miss you.

I just had the "pleasure" of Maria Lopez at WAMU, Texas, inform me she didn't offer the previous compensation offer she had extended on Tuesday due to misinformation from "SHAI" in their cs division. After Maria stated SHAI worked the notes to her advantage, in an attempt to cover up her error in directing me to Chase for a WAMU account which has not transfered over yet, she is stating she doesn't recall what she offered. I had incurred additional fees. Talk about bait and switch. I am moving all of my banking back to my hometown bank.

I have posted complaints with Consumer Affairs and plan to take it higher. In this economy, we have to fight for our hard earned money! They get their interest from ours!