Kimberley Fritts, the longtime chief executive of the Podesta Group, is leaving the firm to start her own lobbying shop, according to three Podesta Group staffers. Tony Podesta, the firm’s founder, tapped Fritts as his successor when he announced he’d step down as chairman last week, hours after an indictment was unsealed, charging Paul Manafort […]
Well, It Was 2.1M Wells Fargo Accounts Involved in the Scandal. Now, It’s 3.5M…
The scope of Wells Fargo’s fake accounts scandal grew significantly on Thursday, with the bank now saying that 3.5 million accounts were potentially opened without customers’ permission between 2009 and 2016. That’s up from 2.1 million accounts that the bank had cited in September 2016, when it acknowledged that…
Mega-Banks Blow 100% of Earnings on Share-Buybacks & Dividends, Crimp Lending, Constrain Economy…
When tighter regulations were imposed on the banks after the Financial Crisis, the largest among them, the very ones that threatened to bring down the financial system, began squealing. Those voices are now being heard by Congress, which is considering deregulating the banks again. In particular, they claim that current capital requirements force banks…
“This Is A Full-Blown Scandal: It’s Unbelievable, Outrageous” – Comptroller Demands Heads Roll at Wells…
Wells Fargo is in boiling hot water. Again. One day after the NYT reported the latest major scandal involving Warren Buffett’s favorite bank, in which the bank was busted less than a year after its miss-selling fraud cost the former CEO his job, revealing that the bank charged some 800,000 customers for auto insurance they […]
Wells Fargo Is Now Accused of Making Improper Changes to Mortgages…
Even as Wells Fargo was reeling from a major scandal in its consumer bank last year, officials in the company’s mortgage business were putting through unauthorized changes to home loans held by customers in bankruptcy, a new class action and other lawsuits contend. The changes, which surprised the customers, typically lowered their monthly loan payments, […]
Wells Fargo Claws Back Additional $72 Million From John Stumpf, Former Retail Banking Head…
It’s been a bad start to the week for bank CEOs and ex-CEOs. Hours after Barclays chief executive Jes Staley was slammed with a regulatory probe and learned he would see substantial cuts to his compensation after he tried to “unmask” a whistleblower, the board of Wells Fargo said it has clawed back an additional […]
Seattle Just Divested Billions from Wells Fargo over Dakota Access Pipeline…
The movement to stop the controversial Dakota Access pipeline through financial activism took an important step forward today, as the Seattle City Council voted 9-0 to approve a bill that terminates a valuable city contract with Wells Fargo. The bank, one of the largest in the United States, has provided more than $450 million in […]
Wells Fargo to Pay Transportation Nominee Elaine Chao up to $5 Million over Next Four Years…
Elaine Chao, Donald Trump’s nominee to lead the Department of Transportation, is in line to receive a “golden parachute” from Wells Fargo & Company worth between $1 million and $5 million dollars. Chao, who joined Wells Fargo as a board member in 2011, has collected deferred stock options that she would not be able to […]
Wells Fargo to Abused Customers: See You in Arbitration…
Only in the la-la land of financial industry justice does stuff like this happen. After suing Wells Fargo & Co. for alleged fraud, invasion of privacy and other claims related to the bank’s highly publicized unauthorized accounts scandal this autumn, a group of 80 customers who are seeking class status got this message late last […]
Eight Years Later, Taxpayers Are Still Bailing Out Wall Street…
Eight-years after taxpayers rescued the U.S. financial system, some of the country’s largest banks, including JPMorgan Chase and Wells Fargo, continue to receive billions in bailout money, according to government data…
- « Previous Page
- 1
- …
- 3
- 4
- 5
- 6
- 7
- Next Page »