Items Tagged with 'Elizabeth Warren'

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Elizabeth Warren pledges to fight Trump, Republicans on Dodd-Frank, CFPB

CFPB architect: Big banks cannot be 'turned loose' on U.S. economy
Just in case anyone thought that the Democratic Party plans to stand idly by while President-elect Donald Trump and the Republican Party move to undo many of the financial reforms of the last eight years, one of its most outspoken members pledged this week to fight Trump and the Republicans every step of the way.
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Warren, Sanders, other senators want answers from auditor KPMG on Wells Fargo

Senators question whether auditor knew of fake accounts
Wells Fargo is still answering for the more than 2 million fake accounts that 5,000 of the bank’s former employees opened in order to get sales bonuses, but now, a group of senators want to know if the bank’s auditor knew about the fake accounts too and whether the auditor did anything about it.
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Sen. Warren calls for Obama to oust SEC chair

"The only way to return the SEC to its intended purpose is to change its leadership"
In the eyes of Sen. Elizabeth Warren, D-Mass, the chair of the Securities and Exchange Commission does not do nearly enough to prevent the “flood” of money flowing from corporations into the election process and repeatedly “undermined” the SEC’s mission to protect investors, and therefore needs to replaced immediately.
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Wells Fargo CEO, former executive forfeit millions as bank launches investigation

Bank's board answers calls to claw back executive compensation
When Wells Fargo CEO John Stumpf appears before the House Financial Services Committee on Thursday for his next legislator-led beat down, he will do so with a lot less money in his wallet. The bank's board of directors announced Tuesday evening that it plans to claw back millions in stock options, bonuses, and other financial benefits from Stumpf, although the moves apparently weren’t enough for Stumpf’s loudest critic in Capitol Hill.
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Monday Morning Cup of Coffee: Wells Fargo employees file class action lawsuit

Plus a political debate that will rival Super Bowl numbers and affordable housing
The presidential candidates in Monday's debate will be asked questions on "achieving prosperity, securing America and America’s direction," which means that housing policy could theoretically be discussed, although I wouldn't create a drinking game around it. A surer bet would be attacks on "Wall Street banks" in general and one big bank in particular: Wells Fargo.
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Bernie Sanders: Wells Fargo's business model is fraud

Vermont senator joins Elizabeth Warren in skewering megabank
In what some might consider as much of a foregone conclusion as when Sen. Elizabeth Warren, D-Mass, expectedly lambasted Wells Fargo CEO John Stumpf when given the chance, Sen. Bernie Sanders took to the internet this week to share his views of Wells Fargo, and let’s just say the former Democratic presidential candidate isn’t a fan of the megabank either.
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Senator Warren calls DOJ's financial crisis response an "abysmal failure"

Wants to know why executives got off "scot-free"
Thursday, Sept. 15, 2016 marked the eight-year anniversary of Lehman Brothers declaring bankruptcy, sending shockwaves through the economy and sending the U.S. into a recession. Sen. Elizabeth Warren, D-Mass., used the anniversary of the “failure of the fourth-largest U.S. investment bank” to loudly question again why individuals were not held responsible for the conduct that led to the financial crisis, and this time she did it armed with some disconcerting new information.
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Wells Fargo CEO headed to Senate hot seat for account scandal

CEO John Stumpf expected to appear before Senate Banking Committee
As it turns out, Wells Fargo will have to answer to more than just the CFPB for the "widespread unlawful" practices of more than 5,000 former employees who opened more than 2 million fake accounts in order to get sales bonuses. The mega bank will now have to report to one of the most powerful committees on Capitol Hill.
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Hillary Clinton reportedly adds former CFPB assistant director Rohit Chopra to transition team

Politico: Outspoken critic of student loan debt issue set to join Clinton's team
Hillary Clinton, the former Secretary of State and current Democratic nominee for president, is adding one of Sen. Elizabeth Warren’s close allies and a former executive at the Consumer Financial Protection Bureau to her transition team as she prepares for the coming election.
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