The New York Post reported Wednesday that Wells Fargo board members met with Trump White House alum Gary Cohn about becoming the bank's next CEO, but were rebuffed. Here's what to conclude from the article.
The payments, which total more than $10 million, stem from a 2017 settlement with the Federal Trade Commission. The agency charged that NetSpend deceived consumers by advertising that they could get immediate access to their funds.
Speaking at an investor conference in New York, John Shrewsberry addressed a recent media report saying regulators had rejected Wells Fargo’s restitution plan for overcharged auto customers.
Investigators have sought more information from the bank in recent weeks about whether management pressured workers to improperly change documents in order to meet a regulatory deadline, according to a news report.
The money trail is a prominent part of investigations dominating headlines in the Trump era, casting attention on banks that have facilitated transactions for various people in the president's orbit.
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