Wells Fargo & Co. settled an 11-year-old lawsuit with the U.S. government that claimed the lender overcharged veterans under a federal mortgage-refinancing program.
The global bank’s U.S. unit has bounced back, aided by growth in deposits and wealth management profits as well as a focus on international customers. A $125 million investment in tech and branches hasn’t hurt either.
Wells Fargo & Co. customers accused the bank in a lawsuit of forcing them to pay for unnecessary auto insurance that drove some of them so far into a financial spiral that their vehicles were repossessed.
The new Citigold program for affluent customers is more than a product — it is the centerpiece of Citigroup's vision for the future, which will also rely on branch closures and sophisticated apps.
The bank is drawing renewed scrutiny after a lawyer’s unauthorized release of sensitive client details for tens of thousands of accounts belonging to wealthy customers of its brokerage unit.
Auto risks mounting. Mortgage market tightening. Are there any good risks these days in consumer lending? Regional bank executives insist partnerships with online lenders, unsecured personal loans and other niche efforts can work if done properly.
Call-center workers at Santander Consumer USA, concerned about what they deem aggressive collections tactics, are looking to unionize with the help of some big names on Capitol Hill.
Piecemeal settlement through mandatory arbitration masks widespread misconduct like Wells Fargo’s fake-accounts scandal. Class actions bring such systemic abuses to light, and should always be an option for consumer redress.