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

Pope Francis delivers comments on World Food Day

Pope Francis seemed to take a jab at the United States and President Donald Trump on Monday, while speaking at the United Nations Food and Agriculture Organization's Rome headquarters for World Food Day.

The pope called on the global community to work together to solve the related issues of hunger, climate change, and the refugee crisis.  Read more.