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.
The Obama administration, in the first major review of the country’s coal program in three decades, on Friday ordered a pause on issuing coal-mining leases on federal land as part of new executive actions to fight climate change.
In the mythology of the right, California must fail. Its high taxes, strict environmental rules, and thick book of regulations are all ingredients in the conservative recipe for economic meltdown. That California is prospering nicely throws a pie in the face of its harshest critics.
In a visit to Washington on Tuesday, Chris Christie revealed his anxiety that the GOP needs to be able to control voting mechanisms before the next presidential election.
The delaying tactics we told you about nearly two years ago have worked beautifully. The bailout worked (if not for homeowners, at least for the banks). It worked so well that the underlying problems that led to the financial crisis have remained largely ignored. The regulations that have been written (and continue to languish during […]
By Michael Lindenberger, The Dallas Morning News WASHINGTON — The chairman of the U.S. Chemical Safety Board told senators Thursday that the Obama administration should already be using its power to require industries to adopt safer technology in making and handling deadly chemicals such as the one that exploded last April at a fertilizer plant in […]
WASHINGTON (AP) — President Barack Obama’s financial overhaul law is nearly a year old. For congressional Republicans, the fight to weaken it is just starting. Wary of trying to repeal the entire statute and being portrayed as Wall Street’s protectors — banks rank among the country’s least popular institutions — GOP lawmakers are trying to […]
Many of the world’s largest and most powerful banks failed in efforts to push back against stricter capital maintenance requirements at a meeting of regulators in Basel, Switzerland this weekend: Regulators meeting in Basel this weekend agreed to make as many as 30 of the world’s largest, or systemically important, banks hold as much as […]
On the same day that J.P. Morgan paid more than $150 million to settle federal charges that it had lied to investors in 2007 about a mind-bogglingly complex mortgage product, a top U.S. bank regulator said he was “skeptical” of recent attempts to regulate the financial system. “We have to be able to figure out […]