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
Online home buying platform Opendoor Labs will pay $62 million to the FTC “to settle claims that it used misleading marketing practices to persuade people to sell their homes on the site.” According to the Commission, the...more
4.5 million Americans—a new record—voluntarily left their jobs in November, continuing a trend that marked much of 2021 thanks to “strong employer demand” that’s allowing some workers to “pursue better opportunities.” While...more
Welcome! Welcome to August’s issue of All Consuming. This month, we are taking a deep dive into discharges in bankruptcy and then reviewing several top news stories in the world of consumer finance. We hope you find value...more
SoftBank’s plan to help bail out WeWork would mean not only a takeover by Masa Son’s crew but also “would slash the co-working company’s valuation to about $8 billion”—a staggering drop of nearly $40 billion. The plan would...more
Amgen will pay $13.4 billion in cash to buy psoriasis treatment Otezla, a deal that will “pave the way for Bristol-Myers Squibb to complete its acquisition of Celgene” by addressing “regulatory concerns over their union”....more
British Bank Standard Chartered agreed on Tuesday “to pay $1.1 billion to settle allegations by the authorities in the United States and Britain that it violated anti-money laundering laws and economic sanctions.” The...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
New Year’s is a time to look back on the happenings of the year and focus on the lessons and reminders those events have provided. For our final newsletter of the year, we’d like to share with you our top 10 most read posts...more
“Pot is the new crypto,” declares Bloomberg, and if you’ve seen how the virtual currencies are faring these days, that should be a warning and not a selling point....more
Elon Musk had some explaining to do in light of his “funding secured” tweet on August 7 in the context of taking Tesla private, and he’s gone to the corporate blog to do so, arguing that his meetings with representatives of...more
CYBERSECURITY - Financial Conduct Authority Warns Banking Industry of ICOs and Cryptocurrency - Writing a “Dear CEO” letter to banking executives, the Financial Conduct Authority (FCA) warned executives on June 11,...more
Theranos founder and ex-CEO Elizabeth Holmes has been indicted on federal fraud charges along with former company president Ramesh Balwani. The charges come three months after Holmes settled civil charges with the SEC....more
This week, Wells Fargo & Co. announced that it will not allow customers to buy cryptocurrency with its credit cards. This follows other banks’ prohibitions on the use of credit cards for the purchase of cryptocurrency over...more
Germany’s diesel emissions scandal bears a lot of resemblances to the Wells Fargo debacle here at home. It just can’t seem to quit itself. This week, we’ve learned that German authorities have opened a criminal inquiry into...more
Campbell’s Soup CEO Denise Morrison retired abruptly late last Friday. Though the company’s stock has struggled in the past year, Morrison gave no reason for stepping down—a move that drops the number of female chief...more
More trouble for Wells Fargo, as news emerged yesterday that some employees in the company’s business banking wholesale unit “altered information on documents related to corporate customers” without customers’...more
Facebook isn’t the only tech stock having a good week. Amazon—helped along by its booming cloud business—more than doubled its net income in Q1 as compared to a year ago....more
China announced yesterday that it was loosening its rules forcing foreign carmakers to link up with a local partner before building factories in China—a move that some see as a step to lowering tensions with the US....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
The Journal dropped something of a bomb on Friday with news that Goldman Sachs’ CEO Lloyd Blankfein is heading out the door as soon as the end of the year. If true, Goldman will likely look for his replacement within its...more
Bitcoin futures started trading yesterday for the first time prompting concerns about the volatility of the cryptocurrency that prompted several exchange outages due to 10%+ swings in its price as well as heavy website...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
More trouble for Wells Fargo, this time involving its Forex operation, which an internal investigation revealed was plagued by routine overcharging of customers and other questionable practices by bankers engaged in a battle...more
If Netflix is to be believed (and, you know, it is a public company), there’s a LOT more Stranger Things and House of Cards on the way... Turns out Nelson Peltz’s failed quest for a P&G board seat was crazy close. As in,...more
Equifax’s ex-CEO Richard Smith will be on the Hill today to address the a subcommittee of the House Energy and Commerce Committee. Smith is expected to report that a “widespread breakdown in security safeguards” at his former...more