Sarah Jaffe, Author of NECESSARY TROUBLE: AMERICANS IN REVOLT, Recommends David Dayen’s CHAIN OF TITLE

Sarah Jaffe, Author of NECESSARY TROUBLE: AMERICANS IN REVOLT, Recommends David Dayen’s CHAIN OF TITLE In the depths of the Great Recession, a cancer nurse, a car dealership worker, and an insurance fraud specialist helped uncover the largest consumer crime in American history—a scandal that implicated dozens of major executives on Wall Street. They called … Read more

Illinois Suspends “Billions Of Dollars” Of Investment Activity With Wells Fargo

Illinois Suspends “Billions Of Dollars” Of Investment Activity With Wells Fargo Just when you thought you could relax into the weekend knowing that the US (and world) banking system was ‘fixed’ again thanks to a rumor from French press, Wells Fargo take another hit. Following California’s decision to sever all banking ties with the bank, … Read more

Maxine Waters to Stumpf: “Let’s call it what it really is: some of the most egregious fraud we’ve seen since the foreclosure crisis.”

“Let’s call it what it really is: some of the most egregious fraud we’ve seen since the foreclosure crisis.” Wells Fargo Chairman and Chief Executive John Stumpf returned to Capitol Hill to testify before the House Financial Services Committee, where angry lawmakers excoriated him over the bank’s admission that employees created some 2 million fake … Read more

Rep. Gregory Meeks Destroys Wells Fargo CEO John Stumpf: House Financial Services Committee Hearing

“I got individuals right now who are on the street, on the street, they’re not back in their homes. They had these fraudulent mortgages. Nobody has said, oh I’m sorry that we gave you these fraudulent mortgages, we gonna put you back in your home and we are going to make sure that everything is … Read more

L.A., U.S. Bank Reach $13.5-Million Settlement on Foreclosed Homes in Disrepair

L.A., U.S. Bank reach $13.5-million settlement on foreclosed homes in disrepair The Los Angeles city attorney has reached a $13.5-million settlement with U.S. Bank to resolve allegations that the nation’s fifth largest bank operated as a slumlord and allowed hundreds of foreclosed properties to deteriorate, fostering crime and blight in L.A. neighborhoods slammed by the housing … Read more

Wells Fargo Troubles Mount With Penalty for Improperly Repossessing Soldiers’ Cars

Wells Fargo Troubles Mount With Penalty for Soldiers’ Loans Wells Fargo & Co., reeling from weeks of pummeling over fraudulent customer accounts, is now facing a Justice Department sanction over improperly repossessing cars owned by members of the military, according to two people with knowledge of the investigation. Federal prosecutors and the bank’s regulator, the … Read more

California Suspends ‘Business Relationships’ With Wells Fargo, Trillions at Stake

California Suspends ‘Business Relationships’ With Wells Fargo California, the nation’s largest issuer of municipal bonds, is barring Wells Fargo & Co. from underwriting state debt, from its banking transactions and in its investments after the company admitted to opening millions of bogus customer accounts. The suspension, in effect immediately, will remain in place for 12 … Read more

Like the Good Ol’ Days in So FL: Housing Market Frenzy at the Opening of a New Real Estate in Hangzhou

Housing Market Frenzy: Shocking Scene at the Opening of a New Real Estate in Hangzhou Surveillance camera caught the shocking moment a new real estate in east China’s Hangzhou city open for sale on Sept 24. The rush to buy was prompted by the introduction of restrictions on Monday which prevent people born outside Hangzhou … Read more