New Orleans The recently announced settlement between the Department of Justice and Wells Fargo Bank saw them pony up $174 Million to provide restitution to 34,000 customers because of racial discrimination in lending rates and steering them into toxic subprime rates caught my eye and brought me to full attention. This might be a case of …
Tag: Federal Reserve
Pushing Back the Banks in the Wake of Occupy
Orleans Given all of the niggling around the impact of the Occupy Wall Street movement and its impact, it is worth raising some footnotes a little higher on the tally sheet where the results are important, but perhaps unnoticed. Take these recent developments into account. Small example, but telling is that JP Morgan Chase, perhaps …
Federal Reserve Blasts Wells Fargo with Largest Ever Fine
New Orleans I may still be under a gag order on ACORN’s final settlement with Wells Fargo, but who knows at this point and who would care now. Wells Fargo was always about hard ball and hard bargaining, but when we moved after than in 2004 after settling first with Ameriquest and then Household Finance …