News Topic: Enforcement actions

On the same day the House Financial Services Committee held a hearing with CEOs of seven of the largest banks, Sen. Sherrod Brown said bank misconduct since the crisis demanded further inquiry by the Senate Banking Committee. ... Read full article

Three regulators warn Wells it hasn’t made enough progress on consent order; poor fourth quarter investment banking revenue ignites cutbacks. ... Read full article

PR campaigns won’t be enough to salvage the bank’s reputation after a series of scandals. Instead, it should look into adopting a new name, among other crucial steps. ... Read full article

The chairwoman of the House Financial Services Committee said Tim Sloan's resignation as CEO was "long overdue," but that other executives and directors should be removed as well. ... Read full article

The proposed rollback of underwriting requirements for small-dollar lenders could redefine a legal doctrine that governs rules affecting other companies as well. ... Read full article

Tim Sloan couldn't hang on any longer. Here are insights about why he left now, what role policymakers played in the decision and will continue to have in the company's future, and who in the world would want to lead Wells Fargo. ... Read full article

The state's financial regulator says Fast Money Loan charged consumers interest rates and fees above the state's usury cap, and operated unlicensed storefronts. ... Read full article

The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible. ... Read full article

Federal regulators normally hesitate even to name specific institutions, but the Office of the Comptroller of the Currency appears to be taking a different tack with Wells. ... Read full article

It was a 5.7% raise from the previous year. His total compensation was the smallest among the CEOs of the six biggest U.S. financial institutions, but his salary was the largest. ... Read full article

The Connecticut bank, which has been unable to complete a pending deal for an SBA platform, has managed to build the business anyway. ... Read full article

More than two years after Wells Fargo's consumer scandals first came to light, the congressional backlash facing the bank is bipartisan and just as fierce. ... Read full article

How well Tim Sloan fares before the House Financial Services Committee will hinge largely on his ability to stay on message in the face of what is expected to be sharp criticism from Democratic lawmakers. ... Read full article

Bankers should pay attention to a recent case in Wyoming in which regulators have sought to bar two executives for misusing confidential bank information for the benefit of a rival institution. ... Read full article

The House Financial Services Committee chair said in an open letter that she wants to empower bureau staff amid reports of low morale. ... Read full article

OCC orders USAA to improve risk management; White House's mixed signals complicate housing finance reform debate; Rhode Island bank snaps up dealmaking boutique; and more from this week's most-read stories. ... Read full article

The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue. ... Read full article

The enforcement action from the OCC comes on the heels of a CFPB consent order that said USAA reopened customers' accounts without consent and neglected stop-payment requests. ... Read full article