Wells Fargo Busted Again! The OCC Fines Wells Fargo $250 Million For Unsafe And Unsound Home Lending Practices Wells Fargo busted again! The Office of the Comptroller of the Currency fined Wells Fargo $250 million. The agency is stating the bank practiced “unsafe or unsound practices” in their home lending business. The OCC imposed the […]
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 […]
Wells Fargo CEO Tim Sloan Dons His Grinch Costume Announces Mass Wells Fargo Firings For The Holidays Mass Wells Fargo firings have announced just in time for the holidays. Wells Fargo informed 1,000 employees their jobs will be eliminated. The bank’s consumer lending divisions will see the biggest hit. employees in those divisions will see […]
Rising Interest Rates And Stiff Competition Are Causing Wells Fargo Mortgage Originations To Plummet Wells Fargo mortgage originations continue to plummet as interest rates have risen over the last several months. Wells Fargo says that it originated $46 billion in mortgages in the third quarter. This is down 22% from last year’s total of $59 billion during the […]
A New Wells Fargo Investigation Focuses On The Bank Committing Low-Income Housing Tax Credit Fraud A new Wells Fargo investigation is underway by the USDOJ in Miami. The DOJ has convened a grand jury. The DOJ is accusing Wells Fargo of colluding with affordable housing developers nationwide. The scheme involved driving down the prices of […]
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