DoJ Opens Investigation Into Wells Fargo Fake Accounts; Why Top Execs Are Responsible
Sanctimonious Wells Fargo may finally be getting its comeuppance.
Read more...Category Archives: Credit cards
Wells Fargo Exec Who Oversaw Fake Accounts Received $125 Million Upon Recent Retirement, Praise from CEO; Senate Hearings Next Week
The Wells Fargo “fake accounts” scandal gets uglier.
Read more...Wells Fargo Fined $185 Million for Opening Phony Customer Accounts, Charging Fees Without Consent; Executives Go Scot Free
Wells Fargo executives make a clean getaway despite the bank engaging in large-scale, systematic consumer fraud.
Read more...Business Groups Aim to Strong-Arm CFPB on Arbitration
Business groups seek to thwart proposed CFPB regulations to limit forced arbitration clauses and allow consumers to bring class actions.
Read more...How Much Do Shady Financial Practices Cost You, Exactly?
The average U.S. household loses over $100,000 to destructives activities of bankers and financiers
Read more...How Finance Costs Too Much and Fails to Deliver
The costs of looting by the financial services industry are even more staggering than you probably imagined.
Read more...Neoliberalism’s Press Gangs: How Markets Raise Costs
Neliberalim’s press gangs – forcing citizens to participate in capitalism when even it produces worse outcomes than public ownership would.
Read more...The New Abnormal: “Disequilibrium Flirting with Deflationary Depression”
The New Abnormal: a period of profound disequilibrium as the aftershocks of the Crisis collide with and complicate structural changes.
Read more...Wolf Richter: Business Loan Delinquencies Spike to Lehman Moment Level
While consumer credit card and mortgage delinquencies are tame, business loan delinquencies have taken a big turn for the worse.
Read more...Consumer Financial Protection Bureau to Put End to Mandatory Arbitration for Consumer Loans, Credit Cards
Ding, dong, the witch of mandatory arbitration is (on its way to being) dead.
Read more...Should Banks Be Worried About Apple Pay?
Will Apple Pay eat retail payment systems?
Read more...Positive Money in Action
Positive Money boosters have failed to consider (or perhaps have failed to publicize) is that it would necessitate draconian controls to prevent the creation of private credit.
Read more...Gaius Publius: Wall Street Reviews What Sanders Plans for Wall Street
An overview of the Sanders Big Finance reform proposal, and some of the ways it has been caricatured or flat-out misrepresented
Read more...Elizabeth Warren on How Clinton Backed Student Loan and Mortgage Debt Slavery with Bankruptcy “Reform”
A sorry chapter of Hillary Clinton’s legislative record was her vote in support of the 2005 bankruptcy “reform” bill.
Read more...Mario Draghi: The ECB Has No Mandate To Ensure Checks Clear Or Credit Cards Work
By Nathan Tankus, a writer from New York City. Follow him on Twitter at @NathanTankus Last week Mario Draghi held a press conference following the decision to raise ELA a paltry 900 million dollars for Greek banks. In that press conference he said many things but I’d like to focus on one passage that has gotten […]
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