• Wells Fargo Hammered by Feds for Auto Loan/Insurance Scam

    4 monthes ago - By Forbes

    Wells Fargo has been fined by federal regulators for defrauding mortgage and auto loan customers.
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  • GE sets aside $1.5 billion for investigation settlement after talks with the Justice Department

    4 monthes ago - By CNBC

    General Electric met with the Department of Justice last month to discuss the ongoing investigation into its now defunct WMC mortgage business.
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  • Wells Fargo to pay $1B fine for mortgage, auto practices

    4 monthes ago - By Review Journal

    Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in a wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion will go directly to the victims of Wells Fargo's abuses.
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  • Wells Fargo fined $1B for abuses; will cut 1Q earnings by $800M

    Wells Fargo fined $1B for abuses; will cut 1Q earnings by $800M

    4 monthes ago - By Biz Journals

    Under terms of the settlement, Wells Fargo, Atlanta's third-largest bank, has also agreed to compensate affected customers and improve its risk management and compliance management.
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  • Wells Fargo to pay $1 billion in regulatory settlement over abuses in its auto and mortgage loan units

    4 monthes ago - By CNBC

    Wells Fargo shares rise after the bank agrees to pay $1 billion to settle allegations of lending abuses.
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  • Wells Fargo to pay $1B for mortgage, auto lending abuses

    4 monthes ago - By Philly

    NEW YORK - Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in a wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion will go directly the victims of Wells Fargo's abuses.
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  • Wells Fargo agrees to pay $1 billion to settle customer abuses

    4 monthes ago - By Reuters

    Wells Fargo & Co has agreed to pay $1 billion in penalties to federal regulators to settle a probe into abuses at its auto and mortgage businesses, the bank and regulators said on Friday, confirming an earlier Reuters report.
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  • Wells Fargo hit with $1B fine in mortgage account scandal

    4 monthes ago - By Inman

    Federal regulators on Friday hit banking giant Wells Fargo with a $1 billion fine for violations involving home mortgages and auto insurance.
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  • Wells Fargo Pays $1 Billion to Federal Regulators

    4 monthes ago - By NY Times

    The fines against the bank settle investigations into its lending practices. They are the biggest bank penalties imposed under the Trump administration.
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  • Wells Fargo to pay $1 billion in fines for mortgage and auto lending abuses

    Wells Fargo to pay $1 billion in fines for mortgage and auto lending abuses

    4 monthes ago - By Business Insider

    Wells Fargo will split a $1 billion fine between the Office of the Comptroller of the Currency and t he US Consumer Financial Protection Bureau as a penalty to resolve probes into auto insurance and mortgage lending abuses.
    The CFPB has been readying sanctions alongside the OCC, Wells Fargo's day-to-day regulator.
    Wells Fargo is being fined $1 billion as a penalty to resolve probes into auto insurance and lending abuses.
    The third-largest US bank will split the fine equally between the Office of the Comptroller of the Currency and the US Consumer Financial Protection Bureau.
    Last week...
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  • Wells Fargo to pay $1 billion in fines for mortgage and auto lending abuses

    Wells Fargo to pay $1 billion in fines for mortgage and auto lending abuses

    4 monthes ago - By Business Insider

    Wells Fargo will split a $1 billion fine between the Office of the Comptroller of the Currency and t he US Consumer Financial Protection Bureau as a penalty to resolve probes into auto insurance and mortgage lending abuses.
    The CFPB has been readying sanctions alongside the OCC, Wells Fargo's day-to-day regulator.
    Wells Fargo is being fined $1 billion as a penalty to resolve probes into auto insurance and lending abuses.
    The third-largest US bank will split the fine equally between the Office of the Comptroller of the Currency and the US Consumer Financial Protection Bureau.
    Last week...
    Read more ...

     

  • Wells Fargo to pay $1B for mortgage, auto lending abuses

    4 monthes ago - By Chron

    NEW YORK - Wells Fargo is being fined a combined $1 billion by two federal regulators for abuses tied to its mortgage and auto lending businesses.
    The bank will pay $500 million to the Office of the Comptroller of the Currency, its main bank regulator, as well as $500 million to the Consumer Financial Protection Bureau.
    This is the first fine that Mick Mulvaney, appointed as acting director of the CFPB by President Trump, has imposed since he took over the bureau in late November.
    Wells Fargo was fined $100 million by the CFPB in September 2016 after its employees opened as many as 3.5...
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  • Wells Fargo Will Pay $1 Billion to Settle Probes Into Mistreating Consumers

    4 monthes ago - By Fortune

    Wells Fargo & Co. will pay $1 billion to settle U.S. probes into mistreatment of consumers, the largest sanction of a U.S. bank under President Donald Trump, as the firm tries to resolve a year and a half of scandals across its operations.
    The bank will pay $500 million in penalties each to the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency, according to a statement Friday from the CFPB. Wells Fargo warned shareholders last week it would soon face a fine of that size, which it planned to book retroactively in the first quarter. The bank remains under...
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  • Wells Fargo hit with $1 billion fine for auto loan and mortgage abuses

    4 monthes ago - By Chron

    NEW YORK - Wells Fargo hit with $1 billion fine for auto loan and mortgage abuses.
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