Lawmakers to grill Equifax, Wells CEOs in busy week of hearings

Lawmakers to grill Equifax, Wells CEOs in busy week of hearings”

It's the latest fallout for Wells, which continues to be dogged over last September's revelations that employees for years opened unauthorized customer accounts to meet high-pressure sales goals.

The Senate Banking Committee announced Thursday that it would hold a hearing October 3 on Wells Fargo's phony-accounts scandal, which was first revealed by regulators a year ago.

The third-largest US bank has since tried to improve sales practices and restore trust with customers.

"We welcome the opportunity to further update the Committee about the progress Wells Fargo has made over the past year", Wells spokesman Mark Folk said.

"I'm not able to discuss confidential supervisory information, and not yet able to tell you what actions we may take", she said, promising only "to make sure that the right set of controls are in place" at Wells Fargo.

The Federal Reserve, Justice Department and several state agencies are investigating Wells Fargo, and the Consumer Financial Protection Bureau fined the bank more than $180 million in 2016, its biggest penalty yet issued.

The bank paid a $185 million settlement last year with multiple authorities, then added another $142 million earlier this year to settle a class-action suit.

On Aug. 1, the 11 Democrats on the Senate Banking Committee wrote to its Republican Chairman, Mike Crapo, asking that both Sloan and the board of directors be called to testify before the Committee this month. He resigned less than a month later.

Like this


23 September 2017
US Military Gets Mysterious and False Text Message to Evacuate Korean Peninsula
The US military has an evacuation plan for the peninsula that it has tested on several occasions in order to maintain readiness. The U.S. military command in Korea routinely rehearses such evacuations, typically in the spring and fall.

23 September 2017
North Korean leader: Trump is 'mentally deranged'
President Donald Trump is again assailing North Korea Kim Jong Un , saying that he "will be tested like never before". Ri, who is due to speak to the United Nations on Saturday, added that he did not know Kim's exact thoughts.

23 September 2017
Former Patriot Hernandez Had "Severe Case" of CTE
And CTE has been found in other groups of people , too: for example, military veterans, boxers, and victims of abuse. In one study , 75 percent of people in this stage were considered cognitively impaired.

23 September 2017
Bills expected to start rookie LT Dion Dawkins against Broncos
With Dareus out, Adolphus Washington , Cedric Thornton and Deandre Coleman will rotate in at defensive tackle. Cordy Glenn's ongoing battle with foot and ankle problems has now moved from his left to his right ankle.

23 September 2017
22nd Century (XXII): What are the Technicals Saying?
Defining investment goals clearly can help keep individual investors from making common mistakes and losing their shirts. The older the historical return data is, the more likely it is to be less useful when predicting future returns.

23 September 2017
Exelon Corporation (NYSE:EXC) EVP Sells $510787.23 in Stock
The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is involved in the energy generation business. Also, EVP Paymon Aliabadi sold 13,333 shares of the stock in a transaction that occurred on Monday, September 11th.

23 September 2017
Synchrony Financial (SYF) EPS Estimated At $0.66
Seth Klarman increased its stake in Synchrony Finl ( SYF ) by 65.84% based on its latest 2017Q2 regulatory filing with the SEC. In the most updated research from a number of analysts on Wall Street, the company gets 16 Buys and 0 Sell among 22 analysts.

23 September 2017
Records third victory with win over Boise State 42-23
Senior quarterback Kurt Benkert , for his part, had a school-record performance, throwing for 455 yards and three TDs in the rout. Virginia's defense held Boise State to just 30 yards rushing, while the Cavaliers' offense rolled up 167 yards on the ground.

23 September 2017
Tropical Storm Jose stationary southeast of MA
The storm is expected to pass around 150 miles southeast of Nantucket, sparing CT the worst of its power. Wednesday Jose was a tropical storm with maximum sustained winds around 65 miles per hour .

23 September 2017
The HTC acquisition is Google's sixth largest deal
The Taiwanese company has said that by signing the agreement with Google doesn't really mean that HTC will not launch any phone. The front camera, however, seems to have been downgraded to 8 megapixels only, perhaps because of new space constraints.