Two senators demand answers from Wells Fargo following NBC News reports

Citing a recent investigation by NBC News, two U.S. senators have asked the chief executive of Wells Fargo to answer extensive questions about the bank’s practice of pausing mortgage payments for borrowers without their consent under a federal program designed to help homeowners financially hurt by COVID-19. The senators, Elizabeth Warren of Massachusetts and Brian…

Trump and Warren are Both Wrong

Jesse Fried says that Senator Warren and President Trump both want to weaken shareholder oversight, Senator Warren with her legislative proposal and President Trump in asking the SEC to review elimination of quarterly reporting: In the absence of any solid evidence that shareholders harm firms, the case for weakening investors has been based on myths,…

Critique of Warren Proposal on Corporate Accountability

Denise Kuprionis analyzes Senator Warren’s proposal for federal charters of large corporations on the Conference Board corporate governance blog. She finds a number of its provisions are already covered or counterproductive. An excerpt: Perhaps a better answer than the ACA is to better promote benefit corporations as an option for companies. Then to determine and…

Support for Senator Warren’s Accountable Corporations Act

Leading scholars and practitioners have written to endorse Senator Elizabeth Warren’s proposed Accountable Corporations Act. Dear Senator Warren, We are a group of long-term scholars and practitioners of the law, finance, and economics of corporations and other business entities. We write you now in support of your Accountable Capitalism Act. We believe legislation along these…