The equities rally we’ve seen in 2019 so far won’t last forever, said Erik Norland, senior economist at the CME Group. “I think that the stock market rally that we’ve seen so far this year is going to run into …
via latimes: A federal bank regulator that has fined Wells Fargo more than $500 million over its creation of unauthorized accounts and other consumer abuses has found evidence of sales practice problems at other large and midsize banks — but is …
Website and mobile app are down. Some people saying they can’t get money out of ATMs and cards not working. https://downdetector.com/status/wells-fargo h/t The Årtist
AP reports, Wells Fargo will pay $575 million in a settlement with attorneys general from all 50 states and the District of Columbia that are investigating fake accounts opened without the knowledge of customers and a string of other dodgy …
It was over two years ago that Wells Fargo’s fake accounts scandal burst into the headlines, and since then, there has been an unrelenting torrent of bad news. In late October, the American Banker reported that two executives were placed on leave …
by Simon Black I guess none of this should surprise me anymore. Our old friends at Wells Fargo are involved in yet another banking scandal. And this one is really bad… people wrongfully lost their homes and ended up on the street. …
via CBSNEWS: Wells Fargo says a computer glitch is partly to blame for an error affecting an estimated 545 customers who lost their homes. The giant bank filed papers with the Securities and Exchange Commission last month, revealing it incorrectly …
From Birch Gold Group This week, Your News to Know brings you the latest stories involving precious metals and the overall economy. Stories include: Wells Fargo turns positive on gold, gold will be the best asset to own in a chaotic 2019, and …
via confoundedinterest: Wells Fargo is adopting an unusual defense against a shareholder lawsuit: claiming, essentially, that shareholders can’t hold the bank accountable for CEO Tim Sloan’s statements that it was “working to restore trust” and be “more transparent” about its scandals …
via Yahoo: (Reuters) – Wells Fargo & Co <WFC.N> said on Tuesday an internal underwriting error had caused it to reject home loan modifications, resulting in the bank foreclosing more homes than expected. The bank said in a filing with …
from Jason Hartman’s Creating Wealth Jason Hartman discusses some key aspects for real estate investors. One of the most important, and most visible, components of investing is interest rates, and there are some absolutely critical things you need to remember about …
by wjean Today I learned that Wells Fargo has a $5K limit on online credit card bill payments; this is INSANE as I have a $25K or so credit line. I know this is a first world problem but just …
Josh Sigurdson talks with author and economic analyst John Sneisen about Wells Fargo’s latest move to once again issue mortgage backed securities despite the vast trouble they landed themselves in in 2007. This is Wells Fargo’s first post-crisis mortgage bond …
Great breakdown of the consequences of Judge K. being confirmed… How they planned to sell us out to China if Hitlary got elected… Worth the time to watch. h/t Question EVERYTHING
Wells Fargo plans to lower its employee headcount by 5 percent to 10 percent in the next three years. The bank has 265,000 employees, meaning the reduction would result in a loss of between 13,250 and 26,500 jobs. The move …
via zerohedge: Another day, another scandal involving Warren Buffett’s favorite bank. According to the WSJ, the DOJ is now probing whether employees committed fraud in Wells Fargo’s wholesale banking unit as a after revelations that employees improperly altered customer information. This follows …
via nypost: Wells Fargo just can’t help itself. The nation’s third-biggest bank is planning to ramp up trading in controversial securities tied to the mortgage market — just weeks after it paid a $2 billion fine for its role in the financial …
Josh Sigurdson talks with author and economic analyst John Sneisen about the countless scandals plaguing Wells Fargo topped by the slumping housing market which is forcing the insolvent bank to lay off 638 mortgage employees. From creating millions of fake …
via Yahoo: For almost two years, Wells Fargo (WFC) has been under near-constant fire. It all began, of course, with the revelation that employees in bank branches, who faced immense pressure to sell, had opened fake accounts for customers. Then, …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter A Friday-afternoon-in-August disclosure. Here’s its rap sheet of ongoing official scandals. Friday afternoon, when no one was supposed to pay attention, Wells Fargo filed its 10-Q quarterly report with the SEC. It’s under “Note 13: Legal Actions,” which …
Putin dropped a bomb in the recent Trump/Putin meeting in Helsinki, Finland. Putin charged that an investment fund manager named Bill Browder (a British citizen) took $1.5 billion out of Russia and that he (and others) made the money illegally. …
Wells Fargo is retreating from the Midwest. The bank, scrambling to cut costs and dealing with a wave of scandals, announced plans Tuesday to sell all of its branches in Indiana, Michigan and Ohio. Wells Fargo, the second-largest bank in …
by DCG Seattle socialist councilmember Kshama Sawant protests Wells Fargo More like no other bank wants to deal with socialist councilmember Kshama Sawant and the attacks on Seattle businesses. From Seattle Times: The city of Seattle will keep banking with Wells Fargo & Co. …
From Birch Gold Group It might be time to start evaluating whether major banks are the right place to keep your money. Why, you might ask? Another big bank, Wells Fargo, is getting investigated… again. And this bank is no stranger to unethical …
by Simon Black Is it Friday again? Must be time for another banking scandal! Seriously– these banking scandals are happening with such regularity and predictability it would be almost comical. . . were it not for the millions of people who …
by John Rubino Back in the 1500s, a financial agent of Queen Elizabeth I named Thomas Gresham observed that that “bad money drives out good.” That is, if two kinds of money are circulating at the same legal value, people …
by listenlindalinda Adding more resources below and an ask to share this post with people who might need it. — All of these companies are regulated — a government agency is paid by your taxes to make sure you’re not …
The people who were ripped off, and U.S taxpayers. conspiracy charade: You’ve been ripped off by your bank or some other American corporate behemoth, they’ve been caught and called to the mat and have to pay a fine (long after …
Josh Sigurdson talks with author and economic analyst John Sneisen about the latest troubles for Wells Fargo as the bank sees the lowest mortgage number since the last financial crisis! In last year’s Q4, mortgage applications plunged by 10 billion …
Josh Sigurdson sits down with author and economic analyst John Sneisen to talk about Wells Fargo’s most recent dramatic move as the crooks attempt something incredibly reminiscent of what banks did just before the 2008 recession. However, this time it’s …