NEW YORK/RALEIGH, N.C., Dec 28 Wells Fargo & Co
will pay at least $500 million to settle claims made by
U.S. states that the bank created phony accounts and other
customer abuses, said a source familiar with a deal due to be
announced on Friday.
WASHINGTON/NEW YORK Wells Fargo & Co must keep a lid on its growth until the bank has hardened its risk management policies to prevent any further abuse of its customers, said Jerome Powell, chairman of the Federal Reserve.
WASHINGTON The Federal Reserve has rejected Wells Fargo & Co's plans to prevent further consumer abuses and told the scandal-plagued lender it needs stronger checks on management, according to three people with knowledge of the discussions.
WASHINGTON, Dec 6 The Federal Reserve has
rejected Wells Fargo & Co's plans to prevent further
consumer abuses and told the scandal-plagued lender it needs
stronger checks on management, according to three people with
knowledge of the discussions.
WASHINGTON U.S. banks will pay the industry's top regulator 10 percent less for supervision costs in 2019, saving them more than $90 million, the Office of the Comptroller of the Currency (OCC) said on Friday.
WASHINGTON/NEW YORK Wells Fargo & Co is fighting to shut some customers out of a sweeping plan to compensate around 600,000 drivers it pushed into car insurance they did not need, according to court documents and a source familiar with the effort.
WASHINGTON Santander Consumer USA Holdings Inc , a leading subprime auto lender, will pay $11.8 million to settle claims that it misled customers about the cost and terms of auto loans and insurance, a U.S. consumer watchdog said on Tuesday.
WASHINGTON Wells Fargo & Co executives were warned that an auto insurance plan could be overcharging customers four years before the bank scrapped the program, according to a complaint released by a judge this week.
WASHINGTON Wells Fargo & Co will not finish paying back the estimated 600,000 customers it wrongly charged for auto insurance until at least 2020, the bank said in a letter to U.S. lawmakers seen by Reuters.