WASHINGTON/NEW YORK (Reuters) – Wells Fargo & Co detailed new regulatory restrictions imposed by the U.S. Federal Reserve on Friday that despatched its shares down sharply in after-hours buying and selling, because the third-largest U.S. financial institution continues to reel from a gross sales scandal that erupted in 2016. Wells is just not allowed to […]
The financial institution’s assessment of probably fraudulent accounts additionally discovered a brand new drawback: clients who have been signed up for its on-line invoice cost service with out their information. SOURCE: NYT > DealBook – Read complete story here.
The Federal Reserve Bank of San Francisco is investigating the lender for not refunding automotive consumers who purchased particular insurance coverage and repaid their loans early. SOURCE: NYT > DealBook – Read whole story here.
Steven A. Wagner, co-founder and chief government of Omnia Family Wealth in Aventura, Fla., encourages clients to have family discussions surrounding wealth and inheritance to get everybody on the identical web page and keep away from “sudden wealth syndrome.” What’s that? When grownup youngsters of an prosperous household don’t study the extent of their wealth […]
With Senate Republicans planning to retain a Three.Eight% surtax on funding revenue of their health-care invoice, it’s a good time for American taxpayers to know precisely how this tax works, writes WSJ Tax Report columnist Laura Saunders. This levy was billed as a tax on the richest, and sometimes it’s: More than three-quarters of its […]
After investigating allegations of improperly routed enterprise at its Chicago private-banking operations, Wells Fargo discovered no additional disciplinary motion was warranted and is reinstating three senior executives who had been suspended. The executives, Chip Flannagan, a senior vice chairman and regional managing director for the financial institution’s Chicago private-banking operations, and senior vice presidents Scott Landau […]