Wells Fargo is facing law suits for discriminating against blacks and Latinos in Philadelphia

Janice Rivers found her dream home on Souder Street in northeast Philly. The 52-year-old teacher’s assistant for the Philadelphia School District bought the two-floor condominium in the winter of 2001 for $66,000. It had everything she was looking for: two spacious bathrooms, a deck for barbecuing, and a finished basement large enough to act as …

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Iowa Attorney General investigating Wells Fargo over unauthorized accounts

The Iowa Attorney General’s Office is investigating Wells Fargo after its employees opened up millions of unauthorized accounts. “I think it’s pretty clear that opening accounts in people’s names without their authorization or knowledge would be an unfair, deceptive act or practice,” said Assistant Attorney General Patrick Madigan, who works with the office’s Consumer Protection …

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JPMorgan’s big secret is that their mortgage securitization operation was the same as everyone else’s

Four years ago, JPMorgan Chase reached a then-record settlement with the Department of Justice after, among other things, the bank received a copy of a U.S. attorney’s draft complaint documenting its alleged role in underwriting fraudulent securities in the years leading up to the 2008 financial crisis. Following the bank’s $13 billion financial agreement, the …

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Wells Fargo May Have Lied To Congress About Fraudulent Auto Loans, Consumer Coalition Says

On August 31, just hours after Wells Fargo revealed that employees had created at least another 1.4 million unauthorized consumer accounts, a coalition of 33 consumer groups fired off a letter to two congressional banking committees charging the bank may have lied to Congress last year about its fraudulent auto insurance sales. The coalition, led …

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