Crime and misconduct

Wells Fargo consumer chief may testify of 'fear' her predecessor inspired

08/17/20

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

[more]

Wells Fargo chief compliance officer is leaving: Report

08/13/20

The executive shuffle at the company continues as Chief Compliance Officer Mike Roemer quits and Credit Suisse America’s Paula Dominick is hired, according to a Financial Times report.

[more]

FDIC finalizes rule to ease bank restrictions on hiring ex-cons

07/24/20

The regulation allows banks to add employees with past convictions for trivial crimes after the industry complained the prior rules were too severe.

[more]

Inside OCC's effort to extract $37.5M from former Wells Fargo execs

06/17/20

Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank.

[more]

Santander Consumer reaches $550M settlement with state AGs

05/19/20

The lender will pay $65 million in restitution and forgive nearly $500 million in auto debt to settle charges that it steered subprime borrowers into risky loans.

[more]

SBA backs off legal threat against firms that didn’t need PPP loans

05/13/20

The agency said Wednesday that as long as small businesses return funds they received through the Paycheck Protection Program, no action would be taken.

[more]

Trial of Stephen Calk, Manafort's banker, scheduled for September

04/24/20

The former CEO at The Federal Savings Bank, who faces a bribery charge in connection with loans to President Trump's onetime campaign chief, is seeking to keep evidence from his phone out of the upcoming trial.

[more]

Wells Fargo adds new top lobbyist to help revive image in Washington

04/17/20

Brian Smith, who spent the past decade with Regions Financial, will head the bank's government relations and public policy team.

[more]

JPMorgan profits drop; Earnings may decide dividend payouts' fate

04/14/20

Bank’s earnings fall 69% in the first quarter; this week’s earnings reports could determine whether banks will need to suspend dividends.

[more]

Waters asks DOJ to consider criminal charge against former Wells Fargo CEO

03/10/20

The chair of the House Financial Services Committee, Maxine Waters, contends that Tim Sloan knowingly made misleading and inaccurate comments during a hearing before her panel last year.

[more]