TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
Another day, another major banking scandal. It’s getting to the point where you can practically set your watch to these things. The latest involves our old friend Wells Fargo. The Wall Street Journal reported last night that Wells has been screwing its customers on foreign currency exchange rates. According to the Journal, Wells Fargo conducted an internal review Read More…
Wells Fargo is now under fire for charging nearly 1 million customers with fake car insurance that sent many of them spiraling into fraudulent debt. (TFTP) One of the largest banks in the United States is no stranger to scandal, and the latest case of fraud surrounding Wells Fargo has affected nearly 1 million people, Read More…
Elizabeth Warren asks: Has Wells Fargo CEO John Stumpf “profited from the bank’s fraud”? When Wells Fargo CEO John Stumpf stepped down last week, Sen. Elizabeth Warren said it wasn’t “real accountability” given the scope of the financial institution’s fake-account scandal. Now, Warren and her colleague Sen. Robert Menendez (D-N.J.) are doubling down on that accusation, Read More…
“You should resign, you should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission.” As many hoped she would, Sen. Elizabeth Warren (D-Mass.) on Tuesday gave a thorough tongue-lashing to Wells Fargo CEO John Read More…
Carrie Tolstedt, former head of Consumer Banking at Wells Fargo, will “retire” later this year $125 million richer. Following a massive scandal that defrauded million of its customers, Wells Fargo has come under even more scrutiny after it rewarded the executive responsible for the fraud with $125 million. Carrie Tolstedt, who will leave her position later this year, was Read More…
Do you remember when our politicians promised to do something about the “too big to fail” banks? Well, they didn’t, and now the chickens are coming home to roost. On Thursday, it was announced that one of those “too big to fail” banks, Wells Fargo, has been slapped with 185 million dollars in penalties. It Read More…