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Category: Regulations


Regulations

Wells Fargo’s CEO knows why customers are staying away even if Wall Street needs a reminder

October 16, 2017

Via: Market Watch

There were questions about loan growth, credit quality, and home equity lines of credit. There were several about closing branches as customers embrace mobile banking, and one on interest rates – all very standard questions for analysts to ask on […]


Regulations

Equifax’s Smith goes to Washington to face Senate hearing on data breach

October 4, 2017

Via: CNBC

Equifax’s former CEO, Richard Smith, is likely to face heated questioning from members of the Senate Banking Committee Wednesday as he returns to Capitol Hill for a second day of testimony. He is scheduled to appear in the Banking and, […]


Channels, Regulations

Senators Quiz Wells Fargo CEO, Express Doubt Bank Will Change Ways

October 4, 2017

Via: Insurance Journal

U.S. senators slammed Wells Fargo & Co. Chief Executive Tim Sloan on Tuesday for his handling of a massive sales practices scandal at the third-largest American bank and challenged him to allow aggrieved customers to sue. Wells Fargo has disclosed […]


Capital and risk, Credit, Regulations

Finance Industry Sues to End U.S. Rule Curbing Forced Arbitration for Consumers

October 2, 2017

Via: Insurance Journal

A coalition of corporate lobbying groups, led by the U.S. Chamber of Commerce, sued the Consumer Financial Protection Bureau to overturn a rule that makes it easier for aggrieved customers to file lawsuits against financial firms. The litigation, filed Friday […]


Regulations

Republican tax plan could bring huge tax savings to millions of small business owners

September 26, 2017

Via: CNBC

A Republican tax-cut plan due to be unveiled on Wednesday is expected to call for a new rate for “pass-through” businesses of about 25 percent, which would bring huge tax savings to millions of U.S. business owners, a lobbyist familiar […]


Regulations

Wells Fargo Must Be Cleansed

September 5, 2017

Via: TheStreet

It’s time for a new board and perhaps a new chief executive officer at Wells Fargo (WFC) now that we have found that there were 67% more fraudulent accounts created to inflate earnings than previously thought. The addition of 1.4 […]


Regulations

Senators Have Questions for Wells Fargo on Auto Insurance Scandal

August 10, 2017

Via: Insurance Journal

A group of U.S. senators from both parties on Wednesday turned up the heat on Wells Fargo Inc. over its latest scandal, in which hundreds of thousands of car-loan borrowers were charged each month without their knowledge for collision insurance, which […]


Regulations

China’s bank regulator lets risk crackdown deadline slip for some lenders, sources say

August 7, 2017

Via: CNBC

China’s banking regulator has extended by two months a June deadline for banks to submit risk assessments over concerns it was putting strain on the lenders, two sources with direct knowledge of the matter said. Under the leadership of Chairman Guo […]


Regulations

Australia’s largest bank was just accused of ignoring money laundering — that may hurt its peers

August 4, 2017

Via: CNBC

The fallout from Australia’s latest banking scandal — allegations that Commonwealth Bank may have ignored money-laundering regulations — could spur serious pain for the sector. Commonwealth Bank of Australia (CBA), the largest bank Down Under, saw its shares tumble on Friday, […]


Regulations

Wells Fargo Hit With Auto-Loan Lawsuit While Political Backlash Grows

August 1, 2017

Via: TheStreet

Less than a month after Wells Fargo & Co. (WFC)  CEO Timothy Sloan settled one class-action lawsuit accusing the bank of exploiting its customers, the company is grappling with another. This time, however, it’s over unnecessary insurance policies tacked on to auto […]