Wells Fargo Claws Back Millions From John Stumpf, Carrie L. Tolstedt, Over Account Sales Scandal

“In its report, the board said as of last Friday, it decided to claw back from Mr. Stumpf an additional $28 million of incentive compensation paid in March 2016 under an equity grant made in 2013. In September it announced $41 million in clawbacks from Mr. Stumpf. The board is also clawing back Ms. Tolstedt’s … Read more

The American Dream, Twice Removed… And Remember, It’s a Big Club, and You Ain’t In It!

There will be a resurgence in foreclosures. And then, if they are lucky to still have a job income, we’ll also welcome them to the renters club. ~ The American Dream, Twice Removed I can’t avoid linking that to earlier periods of American poverty (see the photos below), says The Automatic Earth’s Raul Ilargi Meijer, … Read more

How a Cruel Foreclosure by BOA Drove a Couple to the Brink of Death

  How a Cruel Foreclosure Drove a Couple to the Brink of Death A married couple resorted to self-harm after being physically and psychologically terrorized by Bank of America over their house—until a judge fined the bank $46 million. “Franz Kafka lives… he works at Bank of America.” Judge Christopher Klein’s words kick off an … Read more

CFPB Takes Action Against Nationstar Mortgage for Flawed Mortgage Loan Reporting

CFPB Takes Action Against Nationstar Mortgage for Flawed Mortgage Loan Reporting Bureau’s $1.75 Million Civil Penalty for Persistent and Substantial Reporting Errors is the CFPB’s Largest Penalty to Date for HMDA Violations WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today ordered Nationstar Mortgage LLC to pay a $1.75 million civil penalty for violating the … Read more

Goldman Sachs Goes on Buying Binge for Delinquent Mortgages

Goldman Sachs Goes on Buying Binge for Delinquent Mortgages Goldman Sachs Group Inc. has become the largest buyer of severely delinquent home loans from mortgage giant Fannie Mae over the past year and a half, acquiring nearly two-thirds of $9.6 billion in loans the agency has auctioned, government records show. On Tuesday Goldman won the … Read more

Preet Bharara Explains Why He Let Wall Street Bank Executives Avoid Prison

Preet Bharara Explains Why He Let Wall Street Bank Executives Avoid Prison Authored by Mike Krieger via Liberty Blitzkrieg blog, Recently dismissed U.S. Attorney for the Southern District of New York, Preet Bharara, is suddenly being celebrated as an aggressive warrior in the fight against Wall Street corruption. Really? You could’ve fooled me. Perhaps I was in … Read more