Meeting Between Regulators, Employees Helped Set Stage for Wells Fargo CEO Exit April 9, 2019 By Imani Moise and Pete Schroeder The day after former Wells Fargo & Co. Chief Executive Tim Sloan told U.S. lawmakers he was transforming the bank’s...
PwC to Pay $335 Million to Settle Negligence Claim Over Colonial Bank Audits March 19, 2019 By Katanga Johnson and Pete Schroeder A top U.S. banking regulator said on Friday that PricewaterhouseCoopers will pay $335 million to settle claims of “professional negligence,”...
Wells Fargo CEO Grilled at Congressional Hearing Probing Customer Abuse Scandal March 12, 2019 By Imani Moise and Pete Schroeder Democratic and Republican lawmakers on Tuesday pressed Wells Fargo & Co Chief Executive Tim Sloan for proof the bank has...
Congress Looks to ‘Reimagine’ Credit Reporting Industry February 27, 2019 By Pete Schroeder The nation’s major credit reporting agencies faced renewed scrutiny from Congress on Tuesday, as lawmakers consider legislation overhauling the industry....
Financial Stability Board Chair Targets Unknown Threats February 11, 2019 By Pete Schroeder The Financial Stability Board needs to commit more resources to identifying new threats while reviewing existing reforms for refinement, its...
Regulators Disagree Over Giving Fintechs Federal Charter to Skirt State Rules January 14, 2019 By Pete Schroeder The U.S. Federal Reserve is wary of giving “fintech” firms such as OnDeck Capital Inc. or Kabbage Inc. access to...
SEC to Revisit ‘Proxy’ Voting Favored by Investors Raising Social, Climate Issues November 9, 2018 By Ross Kerber and Pete Schroeder The U.S. securities regulator is set to review this month rules on corporate democracy, setting it up for a clash...
Wells Fargo Must Do More to Repay Cheated Auto Insureds, Says U.S. Comptroller October 3, 2018 By Patrick Rucker and Pete Schroeder Wells Fargo & Co. has not convinced U.S. regulators it is doing enough to repay 600,000 drivers who were wrongly...
What Banks Got, Did Not Get in Dodd Frank Rewrite Passed by Congress May 23, 2018 By Michelle Price and Pete Schroeder Congress on Tuesday rolled back some of the restraints imposed on banks after the 2007-2009 global financial crisis, but big...
SEC Updates Guidance on Cyber Disclosure by Companies March 5, 2018 By Pete Schroeder and Jim Finkle The U.S. Securities and Exchange Commission updated guidance to public companies on how and when they should disclose cyber security...