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Wells Fargo Shows Megabanks Are Too Big to Trust

Lisa Gilbert | Posted 10.17.2016 | Politics
Lisa Gilbert

Wells Fargo Shows Megabanks Are Too Big to Trust By Lisa Gilbert and Michael Tanglis Don't hold your breath waiting for Wells Fargo to do the right t...

Elizabeth Warren’s Wall Street Watchdog Ruled Unconstitutional In Current Form

The Huffington Post | Daniel Marans | Posted 10.11.2016 | Politics

WASHINGTON ― A federal appeals panel ruled on Tuesday that the structure of the Consumer Financial Protection Bureau, the Wall Street watchdog conce...

My 2013 'Warning' Letter to Wells Fargo's CEO John Stumpf, Part II

Rebecca Warner | Posted 10.06.2016 | Business
Rebecca Warner

Last week I shared a letter I had to written to Wells Fargo CEO John Stumpf in March of 2013, regarding the intense sales culture and the negative impact it had on employees, including my sister, who was about to lose her job because she could not meet her sales goals. In that letter, I quoted to him Wells Fargo's Vision Statement:

My 2013 'Warning' Letter To Wells Fargo's CEO John Stumpf

Rebecca Warner | Posted 09.27.2016 | Business
Rebecca Warner

It comes as no surprise to me that employees at Wells Fargo resorted to dishonesty in opening bogus accounts, just to keep their jobs. Why am I not surprised? Because in 2013, after six years of employment, my sister was about to lose her job at Wells Fargo due to sales goals.

Time To Treat Bank CEOs Like Adults

Dean Baker | Posted 09.26.2016 | Business
Dean Baker

The country's major banks are like trouble-making adolescents. They constantly get involved in some new and unimagined form of mischief. Back in the housing bubble years it was the pushing, packaging, and selling of fraudulent mortgages.

The Infuriating Reason Wells Fargo Got Away With Its Massive Scam For So Long

The Huffington Post | Emily Peck | Posted 09.24.2016 | Politics

How did Wells Fargo get away with ripping off its banking customers for so long? The Consumer Financial Protection Bureau and the City of Los Angeles ...

Here's Why Republicans Are Suddenly Demanding Tougher Bank Regulation

The Huffington Post | Amanda Terkel | Posted 09.21.2016 | Politics

WASHINGTON ― Republicans don’t like the Consumer Financial Protection Bureau. They opposed the very idea of the watchdog when Elizabeth Warren fir...

Hillary Clinton Pledges To Protect Elizabeth Warren's Consumer Agency In Letter To Wells Fargo Customers

The Huffington Post | Amanda Terkel | Posted 09.20.2016 | Politics

Hillary Clinton is out with an open letter to Wells Fargo customers, pledging to protect the consumer watchdog set up by Sen. Elizabeth Warren (D-Mass...

What Will Wells Fargo CEO Tell Senate About Fiasco, Possible Exec Pay Clawbacks Tuesday?

Ed Mierzwinski | Posted 09.19.2016 | Business
Ed Mierzwinski

Wells Fargo Chairman and CEO John Stumpf goes before the Senate Banking Committee Tuesday (9/20 at 10am ET, watch live) to explain the recent $185 mil...

Wells Fargo Just Made The Case For Elizabeth Warren’s Bank Agency

The Huffington Post | Emily Peck | Posted 09.14.2016 | Business

Wells Fargo just proved, again, that no scam is beneath America’s financial institutions. And no institution is above being watched by a federal age...

Wells Fargo Will Pay $190 Million To Settle Customer Fraud Case

Reuters/HuffPost | Annum Masroor | Posted 09.14.2016 | Business

WASHINGTON, Sept 8 - Wells Fargo has long been the envy of the banking industry for its ability to sell multiple products to the same customer, but r...

Alternative Lenders Offer Opportunity For Consumers and Businesses Alike

Javier Palomarez | Posted 08.05.2016 | Business
Javier Palomarez

The Consumer Financial Protection Bureau's (CFPB) proposed rule on short term credit unveiled last month has spurred much debate. While the Bureau says it wants to protect consumers, I'm concerned that the rule will have the exact opposite impact, eliminating credit for millions of Americans and making many worse off. What's more, minority communities who are unbanked or underbanked will be disproportionally impacted.

Elizabeth Warren Teams Up With Obama To Tout Wall Street Reform

The Huffington Post | Sam Levine | Posted 07.23.2016 | Politics

WASHINGTON ― Sen. Elizabeth Warren (D-Mass.) joined President Barack Obama for the White House’s weekly address to tout actions the administration...

NCLR Action Fund Calls For Stronger Anti-Payday Regulations

NCLR Action Fund | Posted 07.21.2016 | Latino Voices
NCLR Action Fund

We know that payday lenders are predatory, disproportionately choosing to set up shop in communities of color. We know that Latinos are more likely than the general population to use a payday loan.

Tim Kaine Calls To Deregulate Banks As He Campaigns To Be Clinton's VP

The Huffington Post | Zach Carter | Posted 07.21.2016 | Politics

WASHINGTON ― Sen. Tim Kaine (D-Va.) is on Hillary Clinton’s short list of potential vice presidential nominees. He’s also actively pushing bank ...

The Banking Fight We Can Win Right Now

George Goehl | Posted 07.08.2016 | Politics
George Goehl

There's a big banking fight in front of us right now. It's a fight that could result in a huge win for families and a death knell for the predatory practices of an entire industry -- payday lending.

Elizabeth Warren: "I Always Poked at the Things That Scared Me Most."

Beth Kobliner | Posted 09.30.2016 | Parents
Beth Kobliner

Warren took a break from laying waste to a certain Republican presidential hopeful on social media and fending off rumors that she's on the veep shortlist to chat with me about the personal side of personal finance.

Why Google Banned Ads From Payday Loans

GOBankingRates | Posted 05.11.2016 | Business

By Laura Woods, Contributor Joining the ranks of guns, tobacco and explosives, payday loans will officially be banned from Google ads starting July 1...

Surprise! Donald Trump Is Wrong About Elizabeth Warren

The Huffington Post | Zach Carter | Posted 05.11.2016 | Politics

Elizabeth Warren has been rallying the progressive Twittersphere against Donald Trump, and the budding fascist isn't happy about it. He's now telling ...

Why Suing Your Bank Could Help Others Avoid Being Ripped Off

The Huffington Post | Shahien Nasiripour | Posted 05.06.2016 | Business

A new proposal by the nation's chief consumer watchdog could help government regulators and prosecutors stop big banks' dubious practices more quickly...

The CFPB Just Took a Huge Bite Out of Predatory Lending

Paul Bland | Posted 05.05.2016 | Politics
Paul Bland

Banks and payday lenders have had a good deal going for a while: They could break the law, trick their customers in illegal ways, and not have to face any consumer lawsuits.

If a Blacksmithing School Doesn't Make You Sign Away Your Legal Rights, Why Do For-Profit Colleges?

Robert Shireman | Posted 04.28.2016 | Business
Robert Shireman

Why do for-profit colleges feel they need to put a contractual straitjacket on their students? It turns out that many of the companies requiring students to sign these contracts are the same ones found to be lying, cheating, and stealing their way to revenue and growth for their investors.

The U.S. Chamber's Defective Litigation Machine

Joanne Doroshow | Posted 04.08.2016 | Business
Joanne Doroshow

In 1998, I founded the first consumer organization in the nation with an exclusive mission to halt and reverse the momentum for so-called "tort reform...

4 Terms Virtually All Credit Card Users Agree To

Robert Harrow | Posted 03.18.2016 | Business
Robert Harrow

Very few people are likely to read all the provisions of their credit card agreement. Though a majority of it is benign provisions and definitions that make sure the issuer is protected against loopholes, many aspects of it can have a profound impact on credit card users and their finances.

Friday Talking Points -- Is Trump Bigger Than Liam Neeson?

Chris Weigant | Posted 03.04.2016 | Politics
Chris Weigant

A nationally-televised presidential debate stage is, indeed, neither the time nor the place, one would think. This year, however, all the rules have been thrown out and we've got Donald Trump and Marco Rubio comparing relative penis sizes in their effort to become the so-called leader of the free world.