Crime and misconduct

Cheat sheet: Inside the $3B Wells Fargo settlement

02/21/20

The ten-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership.

[more]

Wells Fargo pays $3 billion, avoids prosecution for sales abuses

02/21/20

A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions.

[more]

Wells Fargo nears $3 billion deal to end federal probes

02/21/20

Wells Fargo & Co. is poised to pay roughly $3 billion to settle federal investigations into a range of consumer abuses that were rampant at the bank for years, according to a person with direct knowledge of the matter.

[more]

Lawsuit alleges PNC built payments product with stolen trade secrets

02/17/20

A Denver company says that the $410 billion-asset bank used its confidential information to create a copycat product and poach its customers. PNC is contesting the allegations.

[more]

Pressure grows on Barclays CEO; JPM tightens rules on working with fintechs

02/14/20

For the second time in four years regulators are investigating Jes Staley; fintechs have until July 30 to sign agreements on how they access customer data.

[more]

Wells Fargo's latest high-level hire will oversee sales practices

02/06/20

Michael Cleary will report to Scott Powell, who had been his boss at Santander Bank.

[more]

Fed bars another Goldman banker for 1MDB; SEC readies major crypto suit

02/05/20

The bank’s former Asia investment banking co-chief is its third executive to be so punished; the agency says Telegram’s digital coin is a security.

[more]

Goldman, Amazon may offer loans; banks plan to tighten underwriting

02/04/20

The bank would make small-business loans on the online retailer’s platform; Fed survey says banks worry about increasing delinquencies, especially in subprime.

[more]

Bankers to get help with spotting human trafficking

01/30/20

The American Bankers Association said it’s offering a new online course because of increased demand by members for training tailored to banking.

[more]

Verdict coming on OCC's supervision of Wells Fargo

01/28/20

Critics of the OCC have long maintained that the agency was too close with the San Francisco bank. A watchdog's assessment of what transpired between 2009 and 2017 is expected to be completed late this spring.

[more]