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| June 24, 2017

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Scandal Archives -

Elizabeth Warren calls on Fed to remove Wells Fargo board members over accounts scandal

June 19, 2017 |

Sen. Elizabeth Warren is calling on the Federal Reserve to remove Wells Fargo & Co. board members who presided over the bank when it opened millions of consumer accounts without customers’ authorization.

The scandal, which erupted last year, “revealed severe problems with the bank’s risk management…


L.A. Times – Business

Consumer bureau director defends handling of Wells Fargo scandal in face of GOP criticism

June 19, 2017 |

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.

Richard…


L.A. Times – Business

TMZ

Corinne Olympios and Boyfriend Jordan Gielchinsky Do Lunch During ‘BiP’ Sex Scandal

June 18, 2017 |

Corinne Olympios and her BF are putting up a united front during her “Bachelor in Paradise” sex scandal with DeMario Jackson … even if they’re not talking about it. Corinne grabbed some lunch Saturday in L.A. with Jordan Gielchinsky, carrying…

TMZ.com

U.S. Lawsuit Links $2.2 Billion Deal to Malaysian 1MDB Scandal

June 13, 2017 |

U.S. authorities are investigating the $ 2.2 billion purchase of a U.S. energy company by a Middle Eastern government investment fund that was arranged by Goldman Sachs and netted one investor a $ 300 million windfall in less than a week, according to a government lawsuit and people familiar with the investigation.
WSJ.com: What’s News Asia

Penn State Sex Abuse Scandal Sends 3 More to Jail

June 3, 2017 |

Penn State’s former president and two other ex-administrators were sentenced Friday to at least two months in jail for failing to report a child sexual abuse allegation against Jerry Sandusky a decade before his arrest engulfed the university in scandal and brought down football coach Joe Paterno, the AP reports….
Newser

Could Wells Fargo’s scandal boost mortgage discrimination lawsuits? L.A., other cities hope so

May 25, 2017 |

A recent Supreme Court decision that will allow mortgage discrimination cases against Wells Fargo and other banks to proceed is more than just another bad headline for the San Francisco financial giant.

As those cases progress, they represent yet another way that the bank’s practice of opening…


L.A. Times – Business

Banc of California chooses outsider to replace CEO who resigned amid scandal

April 29, 2017 |

Banc of California this week named a new chief executive, an outsider who will be tasked with leading the institution as it tries to emerge from a shake-up and scandal that led to the last CEO’s resignation.

Doug Bowers, formerly the chief executive of Square 1 Financial in Durham, N.C., will take…


L.A. Times – Business

Accounts scandal takes its toll on Wells Fargo earnings as customers remain wary

April 13, 2017 |

Wells Fargo & Co. reported earnings on Thursday that show the scandal over unauthorized customer accounts is eating into its bottom line.

The San Francisco bank said its net income totaled $ 5.5 billion, showing no growth from last year’s first quarter — though the results topped the modest expectations…


L.A. Times – Business

Wells Fargo orders 2 former top executives to pay back $75 million after scathing report on accounts scandal

April 10, 2017 |

In a long-anticipated report released Monday, Wells Fargo & Co. pinned the blame for its unauthorized-accounts scandal on weak corporate oversight, an unwatchful former CEO and the executive who led the bank’s community banking division.

The San Francisco bank also said it would take back more…


L.A. Times – Business

Impeachment Hearings to Begin After Alabama Governor’s Scandal

April 9, 2017 |

Alabama Gov. Robert Bentley will face impeachment hearings beginning Monday after the state Supreme Court gave lawmakers the greenlight to move ahead with an effort to oust the governor, who is fighting to stay in office amid fallout from an affair with a top aide . The Alabama Supreme Court on…
Newser