Corruption, Crime and Compliance - Deep Dive Into Wells Fargo’s $30 Million OFAC Settlement
Episode 269 -- A Deep Dive into Wells Fargo's OFAC Settlement for $30 Million
Daily Compliance News: October 16, 2020-the Wells Fargo Corruption Continues edition
Daily Compliance News: September 24, 2020-the Wells Fargo CEO steps in it edition
Compliance into the Weeds: Wells WAC-O Spending
Episode 127 -- Deep Dive into the OCC Enforcement Action Against Wells Fargo CEO and Senior Executives
Daily Compliance News: August 5, 2019, the Wells Fargo sick of being taken advantage of edition
Compliance into the Weeds: Episode 117-Wells Fargo Update
Day 1 of One Month to Better Investigations and Reporting-Introduction to Investigations and Internal Reporting
Unfair and Unbalanced-Episode 18
Day 10 Of One Month to Better Compliance through HR-Sales Incentives and Compliance
FCPA Compliance Report-Episode 284, Mike Scher
This Week in FCPA-Epiode 23, the Wells Fargo edition
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Wells Fargo’s latest CEO, Charles Scharf—the bank’s third chief in the past four years—faced a hostile but less pitchfork-and-torch wielding House Financial Services Committee hearing on Tuesday, distancing himself from his...more
HP has officially rejected Xerox’s enhanced takeover bid, again calling the offer “too low” and decrying its “disproportionate[] benefit” for Xerox shareholders....more
The Federal Reserve took the rare step yesterday of stepping “into financial markets . . . to keep interest rates from rising above its target, the first time the central bank has had to carry out this type of ‘market...more
Google will pay a “record $170 million fine and make changes to protect children’s privacy on YouTube” as part of a deal it reached this week with the FTC and NY AG’s office, both of whom had accused YouTube of “violating the...more
The SEC will vote today on what it’s calling Regulation Best Interest, “which says brokers can’t put their own paychecks ahead of a customer’s needs”—the more-industry-acceptable revision of an Obama-era fiduciary duty rule...more
After the tragic crash of Ethiopian Airlines Flight 302 this weekend, Ethiopia, Indonesia, and China have moved to ground all flights on Boeing’s new 737 Max 8 planes until further notice. ...more
Wall Street apparently views a divided Congress as a good thing (think less chance of tighter regulation), and it celebrated by pushing the Dow up 500 points and jumping back into tech stocks....more
Some reaction to the HQ2 x2 news, including what a pair of new tech hubs actually means for the cities that have thrown out the red carpet to Amazon and other technology giants....more
New York has sued Exxon Mobile over its alleged failure to disclose to its shareholder the “expected risk of climate change to its business”—behavior that the state asserts amounts to a “’longstanding fraudulent scheme’ to...more
Coke is buying British coffee-shop chain Costa for $5.1 billion, as the coffee wars just keep on chugging. Costa has 3800 stores in 32 countries and “a foothold in China,” making Coke an instant player in the field....more
Comcast has withdrawn from its bidding war with Disney over 21st Century Fox’s assets, but it will continue in its pursuit of British satellite TV provider Sky PLC....more
Some analysis of last week’s jobs report, including thoughts on why a sub-4% unemployment rate poses a problem for a Fed still set on a slow and steady rate hike plan....more
Some analysis of Friday’s less-than-booming jobs report – NYTimes and Bloomberg And a look at Fed Chair Powell’s first major remarks on the state of the economy and the potential effects a trade war would have on the Fed’s...more
New Fed chair Jay Powell made his first official appearance before Congress in that capacity, relaying to the House Financial Services Committee yesterday that he viewed the country’s economic outlook as improved since...more
Wells Fargo is again in federal regulators’ crosshairs. The OCC has dubbed the bank a repeat offender and is weighing a “formal enforcement action” over “improprieties in its auto-insurance and mortgage operations”....more
As expected, the Fed left interest rates at current levels yesterday, though it hinted at another December rate hike and officially unveiled the start of its bond wind-down next month....more
There’s been a hitch in Saudi Aramco’s IPO plans (mind-boggling $2 trillion possible valuation and all): where to list. The frontrunners, by the way, are the London Stock Exchange and the NYSE....more
As anticipated (and hinted-at forcefully by its officials), the Fed raised the benchmark interest rate yesterday to a range nearing 1 percent, a move that signals the slow end to the body’s nine-year stimulus effort....more
A review of the Fed minutes released yesterday shows the willingness of some Fed Governors to start rate raising again sooner rather than later....more
Activist investor Carl Icahn has taken a sizeable stake in Bristol-Myers Squibb, a move that reportedly caught execs at the drugmaker unawares and sets the stage for a potential sale....more
In the ongoing battle over almost $38 billion in securities at issue in post-crisis-era lawsuits, the big banks are pushing hard for appellate courts to blow up the Firrea extender provision and find that the DOJ waited too...more
The latest on the AT&T/Time Warner deal, including its place in the “ambitious climb” of AT&T’s CEO, Randall Stephenson [NYTimes] and a conversation with one of the deal’s vocal political opponents, Sen. Al Franken....more
Holding companies appear to be an important new feature of the “living will” revisions the big banks have been making in an effort to appease the Fed and FDIC’s efforts to stamp out “too big to fail” entities. The idea is for...more
OPEC has reached a tentative deal among its 14 member nations to “modestly cut” their oil output toward the end of the year in an effort to shore up sagging oil prices–an announcement that immediately sent global oil prices...more
Testifying before the Senate Banking Committee yesterday, Wells Fargo CEO John Stumpf admitted that the illegal sham-account-creation activity at the heart of its recent SEC fine may have begun earlier than first reported....more