News Topic: Enforcement actions

An inquiry into the sales practices of more than 40 banks launched in the wake of the Wells scandal found several systemic issues and hundreds of problems at individual institutions. The OCC completed the review in December but is not making the results ... Read full article

The Justice Department announced this month that it would seek to reduce duplicative penalties against banks, although more reforms are needed to rein in other agencies. ... Read full article

Senate Democrats want acting CFPB Director Mick Mulvaney to explain why the agency is no longer policing student loan lenders and servicers. ... Read full article

Christian Sewing doesn’t only have to reshape the company, revive profits and improve morale, he has to get regulators off Deutsche Bank’s back. ... Read full article

The Securities and Exchange Commission is pitching a fake initial coin offering to educate investors on the pitfalls of too-good-to-be-true ventures. ... Read full article

The misplaced criticism of the media may be a sign that Wells Fargo CEO Tim Sloan still doesn't recognize the true extent of the bank’s problems. ... Read full article

Banking and mortgage groups are asking the Federal Communications Commission to issue new Telephone Consumer Protection Act rules that would make consumer lawsuits over robocalls harder to win. ... Read full article

The embattled company said Thursday that the asset cap imposed by the Federal Reserve will likely remain in place through “the first part of 2019.” Is this a sign of further delays to come? ... Read full article

The CFPB's acting director announced new political hires and more plans to overhaul the agency in an email Wednesday. ... Read full article

Several tough critics of the financial industry are said to be on the shortlist to replace New York's attorney general. ... Read full article

The public face of the Trump administration's revamp of the Consumer Financial Protection Bureau is by no means working alone. ... Read full article

Since taking office in November of last year, acting Consumer Financial Protection Bureau Director Mick Mulvaney's actions have sparked outrage seemingly at every turn, including several times just last week. ... Read full article

Not a penny of the $1 billion fine against Wells Fargo will end up in the hands of customers harmed by practices flagged by regulators. ... Read full article

The costly order against Wells Fargo contains both unexpected good news for the bank and more potential problems for its CEO. ... Read full article

Months after President Trump vowed that Wells Fargo would pay a severe penalty, the CFPB and OCC hit the bank with a $1 billion fine to settle claims it overcharged customers for auto insurance and home loans. ... Read full article

The latest fine from regulators is expected to be leveled against the bank as early as Friday. But it's far from the only penalty it has paid in recent years, and more may be on the way. ... Read full article

The CFPB and OCC are expected to assess a $1 billion fine against Wells Fargo for allegedly overcharging customers for auto insurance and home loans. ... Read full article

In his first of two Capitol Hill hearings this week, Democrats hammered the acting director of the Consumer Financial Protection Bureau for ignoring what they view as the agency's core purpose. ... Read full article