Los Angeles Times
Wells Fargo & Co. said Wednesday that it will refund a swath of fees it assessed to mortgage borrowers whose delays in completing their loan applications were primarily the bank’s fault.
Far be it from me to see metaphors where none exist, but Wells Fargo’s good name was literally blown away when Hurricane Harvey roared into the Texas city of Corpus Christi last week.
The Republican push to oust Richard Cordray as director of the Consumer Financial Protection Bureau soon might get a boost from an unexpected source: Cordray himself.
Wells Fargo & Co. is facing another consumer lawsuit, this time alleging that it bilked home loan borrowers by charging them extra fees when their applications were delayed — even when it was the bank’s fault.
For decades, the ability to deduct the interest on a home mortgage has been one of the most untouchable sacred cows of the tax code.
Senate Democrats on Thursday criticized the financial industry backgrounds of President Trump’s nominees for two key banking regulatory positions, arguing they would not protect the interests of average Americans.
As Wells Fargo & Co. continues to be hit with fallout from its sham-accounts scandal, the bank is facing allegations that it put the screws to customers in yet another way: by slapping them with fees for delays in processing mortgage applications.
If defying the deregulatory push from the Trump administration and the GOP-controlled Congress, the Consumer Financial Protection Bureau rolled out a much-needed rule this week that bars banks and other financial services companies from forcing customers to take disputes to arbitration instead of banding together to sue.
The federal government’s consumer financial watchdog is defending his handling of the Wells Fargo & Co. unauthorized accounts scandal in the face of Republican charges that the agency failed to catch the problem and has stymied a congressional investigation into how it handled the case.
Give Rep. Jeb Hensarling this much credit: He’s persistent. And he’s not afraid to completely bend the truth in pursuit of weakening consumer safeguards.