Weak loan growth, a $3.25 billion litigation accrual and other costs tied to the phony-accounts saga all added up to a messy fourth quarter for the San Francisco bank.
Wells Fargo had another surprise for investors in the form of its biggest legal charge yet, showing the lender is not yet past its consumer banking scandals.
The CFPB's recent freeze on collecting any personally identifiable information from companies it supervises is slowing investigations and could ultimately cripple the agency's enforcement function — and that may be the point.
Sen. Elizabeth Warren, D-Mass., is asking acting CFPB Director Mick Mulvaney to account for recent directives limiting agency staff members’ ability to access or acquire electronic data, saying the moves hamper critical agency operations.
If acting CFPB Director Mick Mulvaney ultimately prevails in the lawsuit challenging his position, he is expected to continue implementing the most significant changes to the agency in its six-year history.
Consumers’ desire to shop online is creating huge demand for distribution centers and forcing property owners to think creatively about redeveloping vacant retail space. Meanwhile, hundreds of billions of dollars will be spent rebuilding areas hard hit by hurricanes and wildfires.
The legislation — and public perceptions of it — are expected to play a major role in 2018 elections that will determine whether Republicans retain control of Congress.
Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out.
With tax reform close to the finish line, bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill includes some caveats that might give institutions pause.
