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…
Tag: wells fargo
More Trouble for Wells Fargo: Bank Improperly Kept a Pension Fund’s Fee Rebates – WSJ
Wells Fargo cannot seem to get it right. This is especially disturbing considering its many previous violations and promises that all its problems have been solved. And it is even more disturbing that in this case the relationship was not just with a customer, but a pension fund for whom it was acting in a…
Wells Fargo’s Testimony Left Some Feeling Shortchanged – The New York Times
VEA Vice Chair Nell Minow is quoted in the Gretchen Morgenson New York Times story about the latest revelations of 1.4 million fraudulent accounts at Wells Fargo and the very unusual decision to pay separate lobbyists to represent the outside directors. “What exactly are the shareholders getting out of this arrangement?” asked Nell Minow, a…
