Not every financial firm will be able to reap the benefit of Wall Street’s victory in dismantling the threat of class-action law suits. The U.S. Senate killed a rule late on Tuesday that allowed consumers to band together to sue …
U.S. senators slammed Wells Fargo & Co. Chief Executive Tim Sloan on Tuesday for his handling of a massive sales practices scandal at the third-largest American bank and challenged him to allow aggrieved customers to sue. Wells Fargo has disclosed …
Wells Fargo & Co. CEO Tim Sloan will be questioned about sales practices, mischarging customers for auto insurance, and complaints about mortgage fees at the bank’s consumer lending unit when he testifies before U.S. senators on Tuesday. The U.S.’s third-largest …
Minneapolis Federal Reserve President Neel Kashkari unveiled a plan on Wednesday to prevent future government bailouts by forcing the largest U.S. banks to hold so much capital that they would probably decide to break themselves up. Kashkari’s plan would also …
A phantom account scandal at Wells Fargo & Co. has put the U.S. bank’s disclosure policies under a harsh spotlight. Despite press reports that a federal regulator and the Los Angeles prosecutor were investigating sales practices at retail branches of …
The chair of the U.S. House Financial Services Committee has proposed getting rid of much of the regulation put in place after the financial crisis, unveiling a plan on Tuesday that ignited fierce debate in the presidential election but is …
Wells Fargo & Co is restarting efforts to expand its insurance brokerage business through acquisitions after previously announced M&A aspirations did not pan out. Laura Schupbach, executive vice president and head of Wells Fargo Insurance, said she “hit the pause …
