Sentences with phrase «fake account scandal»

Wells Fargo: Federal Reserve's growth cap shouldn't hit credit card holders — Wells Fargo cardholders won't be affected by the Federal Reserve's cap on bank's growth following the fake account scandal in 2016, banks says.

Although Chase has avoided the level of accusations faced by Bank of America for mortgage abuses and Wells Fargo for its huge fake account scandal, the lack of recent incidents is not a guarantee of perfect service.

You probably can't help but follow the continually unfolding fake account scandal at Wells Fargo.

The bank has been struggling with intense regulatory and media scrutiny since 2016, when a massive fake account scandal came to light.

Warren got what she wanted from Stumpf, who'd blamed the bank's fake account scandal on some 5,300 employees.

demanded that Wells Fargo CEO John G. Stumpf be fired in the wake of the bank's fake account scandal.

And Wells Fargo (wfc), still dealing with the fallout of its fake accounts scandal, is up just 10 %, but Buffett's position has gained almost $ 2.5 billion in value over that time.

The bank, which has labored under a fake accounts scandal and other black eyes since September 2016, is being targeted by the Consumer Financial Protection Bureau.

Williams also has come under criticism because the fake accounts scandal at San Francisco - based Wells Fargo happened on his watch.

Banks need to stop rewarding the kind of bad behavior that led to the Wells Fargo fake accounts scandal and other banking misdeeds, New York Fed President William Dudley said Monday.

The bank, which has labored under a fake accounts scandal and other black eyes since September 2016, is being targeted by the Consumer Financial Protection Bureau, Reuters reported, citing sources.

The California - based finance company has struggled to maintain steady gains after its major fake accounts scandal broke back in 2016.

The nation's third - largest bank has struggled to recover from a 2016 fake accounts scandal.

The CEO is either put in a position to publicly apologize, which customers may interpret as forced and insincere (as we saw on Wednesday with United's Munoz and last month with Uber's Travis Kalanick following harassment claims) or the CEO is forced to resign, as Wells Fargo's John Stumpf did last October following its fake accounts scandal.

This would mark the latest headache for the bank, which is still recovering from a 2016 fake accounts scandal and paid a $ 1 billion fine over misconduct in its mortgage lending and auto businesses last week.

He had 2 million in shares of Wells Fargo stock — and he got up every quarter during the fake accounts scandal and told potential investors that Wells was a great deal because of the cross-sell ratio.

Warren accused Sloan of breaking his promise to customers since he took over as CEO in late 2016 after a fake accounts scandal burst into the headlines.

Illinois is joining California in suspending some business the states do with Wells Fargo & Co. over its fake accounts scandal.

Not exact matches

Every establishment failure reinforces the thesis; after debacles like the Wells Fargo fake - account scandal, he asks, «I'm supposed to trust those f — king banks?»

Mr. Sloan, a veteran of the bank, took over as C.E.O. after his predecessor, John Stumpf, resigned after the eruption of a scandal involving Wells Fargo's creation of fake accounts.

Wells promoted a go - go sales culture that exploded into scandal with the disclosure in 2013 that employees were opening fake accounts to generate bonuses for boosting sales.

Wells Fargo CEO Tim Sloan predicted the scandal - ridden bank will achieve the growth it had lost during its fake - accounts scandal.

Wells Fargo & Co.'s attempt to force aggrieved customers into closed - door arbitration over its fake - accounts scandal is drawing a legislative backlash in its home state of California and risks subjecting the bank to another round as a public punching bag.

While Wells Fargo received harsh criticism for its abuse of customer trust in the fake deposit account scandal of 2016, its highly - regarded mortgage business remained safe from blame until recently.

Wells Fargo has run into problems of late following a scandal, revealed last September, in which thousands of its employees opened millions of fake accounts for unwitting customers over a decade and a half, if not longer.

«Whether it is fake accounts at Wells Fargo or a massive data breach at Equifax, recent scandals have demonstrated that consumers need to access the justice system when a big, powerful company opens accounts in their name, without their consent, and leaves them vulnerable to fraud by failing to secure their personal data,» said Sen. Catherine Cortez Masto, D - Nev.

To top it all off, 2016 and 2017 witnessed their now infamous «fake accounts» scandal that impacted literally millions of customers and involved tens of millions in falsely opened accounts.

Without that immediate, and highly plausible, rebuttal, plebgate snowballed into a full scale scandal spawning a resignation, the revelation of a fake eyewitness account, arrests, inquiries, a Channel 4 documentary, a Scotland Yard investigation and demonstrations at the Tory Party conference, and involved the DPP, the CPS, the IPCC, the Diplomatic Protection Group, ACPO and the Police Federation, as well as drawing in all the party leaders, the home secretary and countless MPs.

Wells Fargo has been under the spotlight for the better part of 18 months due to a scandal involving a swath of fake accounts.