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.
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