While there will be many unsavory details of 2016 to go through — the thing most Americans can agree with is that at least the word “clawback” was added to our collective vocabulary. Get the Full Story Complete the form to unlock this article and enjoy...
The FTC presented a written report of its recent work to the U.S. Senate Committee on Commerce, Science and Transportation and requested changes to the common carrier exception to the FTC Act.
Wells Fargo will now be facing — among other recent issues — a class action lawsuit that alleges the firm misled investors via its reports on its financial performance and materials on its successful sales practices. Get the Full Story Complete the form to unlock this article and...
The people have spoken, and when it comes to Wells Fargo CEO John Stumpf, it seems the people are in agreement with Senator Elizabeth Warren. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
The Consumer Financial Protection Bureau said on Monday (Sept. 26) that it has levied a $9 million fine against TitleMax, among the nation’s biggest auto title lenders, for misleading consumers over costs tied to loans and also for using unfair debt collection efforts. Get the...
The high fees charged by private firms that are hired by the courts to operate e-filing systems and that are often passed onto consumers who pay with a credit card have been capped by a bill approved by California Governor Jerry Brown on Sept. 22....
The Consumer Financial Protection Bureau (CFPB) announced on Friday (Sept. 23) it filed a lawsuit in federal district court against credit repair company Prime Marketing Holdings, which it contends charged consumers a series of illegal advance fees, as well as misrepresented the cost and effectiveness...
Two former workers of Wells Fargo have filed a $2.6 billion lawsuit on behalf of employees who suffered because they chose not to engage in unethical practices. Meanwhile, the Wells Fargo board has hired Shearman & Sterling to advise them on clawbacks on executives’ salaries.
A spokesperson for the San Francisco Federal Reserve has confirmed that Wells Fargo CEO John Stumpf has stepped down from the Federal Reserve Advisory Council effective Thursday (Sept. 22). The move comes about 48 hours after Stumpf was required to appear before the Senate Banking Committee to...
