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Wells Fargo to pay $1 billion in fines over auto, mortgage lending abuses

Wells Fargo to pay $1 billion in fines over auto, mortgage lending abuses

Federal regulators slapped Wells Fargo & Co. with a fine of $1 billion on Friday, punishing the San Francisco bank for abuses that harmed mortgage and auto loan borrowers, and for what regulators said was a pervasive and “reckless” lack of risk management.

California Treasurer John Chiang on Governor’s Signing of Senate Bill 33 (Forced Arbitration)

California Treasurer John Chiang on Governor’s Signing of Senate Bill 33 (Forced Arbitration)

  John Chiang, California State Treasurer   SACRAMENTO – Victims of fraud by Wells Fargo Bank and other financial institutions finally can have their day in court thanks to Senate Bill 33, sponsored by State Treasurer John Chiang and consumer advocates. .  The governor today signed SB 33, authored by Sen. Bill Dodd, D-Napa, into law. The […]