The CFPB Spanks Wells Fargo With Yet Another Fine Yesterday For Ripping Off Consumers. This Time It’s For $3.75 Billion The CFPB spanks Wells Fargo with another fine by the CFPB yesterday. The CFPB has ordered Wells Fargo Bank to pay $3.7 billion for violations across several of its largest product lines. This includes mortgage […]
Wells Fargo Mortgage Sales Expected To Plummet By 50% For The Second Quarter of 2022 Wells Fargo CFO Mike Santomassimo warned investors that Wells Fargo mortgage sales are expected to drop 50%, Santomassimo blamed higher interest rates that have destroyed the refinance market. Wells Fargo refinance originations are currently down about 82% this point last […]
Federal Prosecutors In Manhattan Launch Another Wells Fargo Criminal Investigation Over Its Sham Hiring Practices Federal prosecutors in Manhattan have launched another Wells Fargo criminal investigation. Investigators say they are investigating bank managers who conducted sham interviews with minority and female candidates. Bank managers allegedly interviewed minority candidates for roles that were already filled. The […]
Wells Fargo Bitch Slapped With $400 Million Investor Lawsuit Alleging Bank Failed To Protect Investors Over Robo-Signing Wells Fargo bitch slapped with a robo-signing lawsuit? Yes, and this time it’s from bond investors. Taconic Capital Advisors filed a $400 million suit against Wells Fargo in New York Supreme Court. The suit alleges the financial giant […]
The OCC Has Personally Fined Former Wells Fargo CEO John Stumpf $17.5 Million For Fake Accounts Fiasco Wells Fargo indicated just over a week ago that the fallout from its fake account scandal was far from over. The bank is disclosing that it has at least $3.1 billion set aside for expected litigation payouts. In […]
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