Skip to main content

Wells Fargo Doubles Down on Predatory Banking: Illegally Repossesses Cars of Military Members

On September 9, I wrote about how the banking giant Wells Fargo went on an illegal spree of opening false credit cards, checking and saving accounts; charged customers fees for unrequested "services"; and then fired more than 5,000 employees when the Consumer Financial Protection Bureau (CFPB) discovered the illicit activity. The CFPB -- conceived by Elizabeth Warren -- has limited power to address systemic banking abuse, but it did force Wells Fargo to stop these practices and pay an extremely modest fine of less than $200 million.  Read more.

Comments

Popular posts from this blog

Technology Access Gap Leaves Millions of Students Struggling to Keep Up

Twenty-one-year-old Mirka Mendez, a petroleum engineering student at the University of Texas-Austin (UT), has a deep understanding of the US’s technology gap. Without easy access to the internet while in high school, she often had to leave home at 4 a.m. and sit on a bench outside her school so that she could use the building’s hotspots to do research, study or write papers before the opening bell.  Read more.