Regulators slapped the fine on Wells Fargo through a settlement after discovering that employees created fake email addresses, fraudulently applied for credit cards and moved unwitting customer’s money to the new accounts. The misbehavior earned bonuses and let employees meet aggressive sales quotas.
Washington (AFP) – U.S. authorities authorized BNP Paribas to operate in Iran earlier in the year, even as they considered penalties against the French bank for earlier breaking an embargo imposed on the country, a Treasury official said. The U.S. Treasury Department granted the bank two licenses in February and March for transactions in Iran […]
Vermonters aren’t like the rest of us: They live in a small state with a flinty history and a legendary suspicion of outsiders. That independent streak gained luster when 15 Vermont towns voted earlier this year to reinforce this independent tradition by approving a proposal to create a state bank. The Vermont Economic Development Authority would get a […]
Washington (AFP) – A U.S. judge has ordered Chinese units of the “Big Four” global accounting firms to be suspended from auditing U.S.-traded companies for six months, saying they “willfully violated” U.S. laws. The 112-page ruling by U.S. Securities and Exchange Commission (SEC) administrative law judge Cameron Elliot could temporarily leave more than 100 Chinese […]