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Wells Fargo

Banning Big Wall Street Bonus Favored By 70 Percent of Americans In National Poll

Bloomberg | Catherine Dodge | Posted 05.25.2011 | Business

More than 70 percent of Americans say big bonuses should be banned this year at Wall Street firms that took taxpayer bailouts, a Bloomberg National Po...

Los Angeles Homeowners Take to the Streets to Protest Foreclosure Abuses

Peter Dreier | Posted 05.25.2011 | Los Angeles
Peter Dreier

A David vs. Goliath battle is developing this holiday season between hard-working families facing foreclosure and banking giants such as Wells Fargo and JP Morgan Chase.

The Effort to Claim That Economists Support Obama's Capitulation on Tax Cuts for the Wealthy

William K. Black | Posted 05.25.2011 | Business
William K. Black

You know the Obama administration is desperate when it creates a web page citing economists who support its capitulation on taxes. And what do you know, these economists are all "wealth managers" or from major banks.

Inside The Tales Of Mistaken Foreclosures

AP | MICHELLE CONLIN | Posted 05.25.2011 | Business

Christopher Marconi was in the shower when he heard a loud banging on his door. By the time he grabbed a towel and hustled to his front step, a U.S. m...

William Alden

Report: Wall Street CEO Pay Problems Worsened By New Rules | William Alden | Posted 11.30.2010 | Business

In the years leading up to worst financial crisis since the Depression, as gambling fever seized Wall Street, one of the primary forces encouraging gr...

William Alden

Small Banks Struggling -- And Small Businesses Are Being Dragged Down With Them | William Alden | Posted 11.30.2010 | Business

As the American economy shows encouraging signs of improvement, one crucial relationship threatens to impede expansion: Many small banks remain in poo...

Banks Fighting With Fannie, Freddie Over Soured Mortgages

The Huffington Post | William Alden | Posted 05.25.2011 | Business

As doubts continue over the legitimacy of mortgage documents, two government-owned mortgage companies are having trouble offloading loans onto the ban...

Don't Worry -- If You're a Bank You Don't Need to Develop an iPhone App Anymore

Brett King | Posted 05.25.2011 | Technology
Brett King

We already know that mobile Internet based banking is the fastest growing interaction channel for banks today, so this level of commitment by the industry is quite concerning. So why so slow?

For the Banks, the Money Is in Overdraft Fees

Jean Ann Fox | Posted 05.25.2011 | Business
Jean Ann Fox

Willie Sutton is credited with saying that he robbed banks because that's where the money is. Banks know where the money is, too: overdraft fees.

New 'Stress Tests' Coming For Banks

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The nation's largest banks must undergo new stress tests to show they can weather another recession, and the Federal Reserve said those...

hite House Announces Warren Buffett To Get Nation's Highest Civilian Honor -- On The Same Day He Praises Bailout In NYT

Posted 05.25.2011 | Business

The White House announced that Warren Buffett will be awarded the Presidential Medal of Freedom, America's highest civilian honor, reports Reuters. Th...

NYC Pension Funds Want Bank Foreclosure Audits

AP | DAVID B. CARUSO | Posted 05.25.2011 | Business

NEW YORK — The trustees of New York City's government pension funds asked the directors of four major banks Tuesday to play a bigger role in pol...

The Fed's New Foreclosure Predator Bailout

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

As if the last decade of abuse wasn't bad enough, banks are again mobilizing to screw borrowers in the pursuit of bonuses. And once again, it appears the Fed has become an accomplice to this nationwide mortgage scam.

Shahien Nasiripour

'Robo-Signer' Foreclosure Scandal May Threaten Fundamental Financial Stability, Government Watchdog Warns | Shahien Nasiripour | Posted 05.25.2011 | Business

This story was updated at 11:30 a.m. and 4:10 p.m. ET to include more information. The ongoing "turmoil" roiling megabanks and their faulty home fore...

Arthur Delaney

Wells Fargo 'Nightmare' For Homeowner Applying For Help Under Administration's Anti-Foreclosure Program | Arthur Delaney | Posted 05.25.2011 | Business

This story has been updated WASHINGTON -- Wells Fargo put an Illinois woman though a "nightmare of harassment, frustration, and relentless stress" wh...

Question: What Do Wells Fargo Bank and Class Action Lawyers Have in Common?

Lawrence W. Schonbrun | Posted 05.25.2011 | Business
Lawrence W. Schonbrun

When is the judiciary going to examine the schemes of class action lawyers with the same zeal with which it scrutinizes the business practices of American corporations?

WATCH: Wells Fargo Repossesses A Fully Paid Off Car

Posted 05.25.2011 | Business

Keeping up with your car payments, it seems, is not always enough to keep away the repo man. As King 5 TV reports, Adlantis Newton, a Tacoma, Washingt...

Wall Street Insiders Unload $100 Million Of Their Own Stock

CNBC | Kate Kelly | Posted 05.25.2011 | Business

Officers and directors of Goldman Sachs, J.P. Morgan, Citigroup, and Wells Fargo have sold about $100 million worth of stock so far this year, amid re...

America's Anger at the Great Financial Bailout and the Press' Continuing Inability To Understand Why

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

What galls most Americans is the manner in which Wall Street rewarded itself after it was the public that took the risk of bailing them out.

Some Banks Are Rethinking Lending To The Dirtiest Industries | TOM ZELLER Jr. | Posted 05.25.2011 | Business

fter years of legal entanglements arising from environmental messes and increased scrutiny of banks that finance the dirtiest industries, several larg...

Refinancing Surges Even As Foreclosure Crisis Mounts

Bloomberg | Jody Shenn | Posted 05.25.2011 | Business

A rush by U.S. homeowners to refinance at near record-low interest rates marks a rare bright spot for the mortgage industry, under attack for choking ...

Mortgage Damage Spreads: Big Bank Stocks Hit Again As Modern Finance Collides With The Legal System

Wall Street Journal | Posted 05.25.2011 | Business

The unfolding foreclosure-processing debacle is causing bank stocks to slide and putting millions of delinquent borrowers in limbo. But how disruptiv...

Wells Fargo WON'T Halt Foreclosures Despite Evidence That Servicers Didn't Read Paperwork

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — Wells Fargo & Co. does not plan to halt foreclosures despite an employee's testimony that she signed up to 500 foreclosure document...

Insiders Ignored Foreclosure Crisis Signals For Years

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Insiders anticipated the current foreclosure crisis years before it struck and now, it seems, it must get worse before it can get better. System-wide...

In The Public Interest : The More You Know, The More You Know We Need A Strong CFPB

Ed Mierzwinski | Posted 05.25.2011 | Politics
Ed Mierzwinski

This month's story, dear reader, is about sloppy bank servicing of mortgages, starting with the infamous robo-signers and now escalating to every elem...