Opinion: $3 billion in tax savings for Wells Fargo? America is on its way back

To the editor: Wells Fargo & Co. will, like other Americans, get a major tax break thanks to President Trump and the Republicans in Congress. But unlike hardworking Americans, Wells Fargo’s cut amounts to more than $3 billion in the fourth quarter. (“Wells Fargo reports big tax savings — and big costs for investigations, lawsuits,” Jan. 12).

During the Obama years, Wells Fargo was forced to pay billions in fines for violating pesky and unnecessary rules, including misleading investors, not abiding by the Americans with Disabilities Act, overcharging hundreds of thousands of homeowners for appraisals, and creating more than 3 million phony accounts.

Fortunately, our current president is dismantling some of the regulations on financial institutions such as Wells Fargo. That, along with the tax cut, shows America is on its way back.

Owen Keavney, Pomona

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