Industry watchdogs turn their focus on Wells’ wealth-management services It seems that we may not have yet seen the end of the Wells Fargo accounts scandal. The Justice Department has taken an increased interest in Wells Fargo’s wealth-management unit following whistle-blower claims that the bank’s wealth-management customers have been affected.…
We all remember that nastiness about Wells Fargo, right? You know, that little PR debacle where it turned out that, due to unrealistic sales initiatives, Wells Fargo employees initiated accounts fraud against millions of consumers. After the story broke, Wells Fargo lost a major vote of consumer confidence. The following…
Bad Week for Big Banks Some of the nation’s top banks are facing another bad week, legally and financially as they are subjected to increased scrutiny and demand for reparations from federal regulators. Wells Fargo faces a continued inquest into the extent of its accounts fraud scandal as regional and…
The Cause Big banks on Wall Street had been left unchecked for too long and the introduction of sub-prime lending tactics sealed the fate of U.S. financial stability. A culture of smoke-and-mirrors misleading consumers, coupled with a dire lack of regulatory oversight allowed big banks to run rampant. Years of…