Regulators caught Wells Fargo, other banks in probe …

Wells Fargo was snared in an industrywide probe into mortgage bankers’ use of loan discounts last year, CNBC has learned. The discounts, known as pricing exceptions, are … See more

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Wells Fargo, Other Mortgage Lenders Under Scrutiny For Pricing ...

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Dec 11, 2023 · Wells Fargo paid $3.7 billion for consumer abuses on products including home loans in December 2022 and was fined $250 million in 2021 for failing to address problems in …

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US Regulators Fine Wall Street Firms $549 Million In Latest Texting …

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Aug 8, 2023 · WASHINGTON (Reuters) -U.S. regulators on Tuesday fined nine Wall Street companies, including Wells Fargo, BNP Paribas and Société Générale $549 million over …

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UPDATE 4-US Regulators Fine Wall Street Firms $549 Mln In Latest ...

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Aug 8, 2023 · U.S. regulators on Tuesday fined nine Wall Street companies, including Wells Fargo, BNP Paribas and Société Générale $549 million over employees' use of personal …

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US Regulators Fine Wall Street Firms $549 Mln In Latest Texting Probe

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Aug 8, 2023 · U.S. regulators on Tuesday fined nine Wall Street companies, including Wells Fargo , BNP Paribas and Société Générale $549 million over employees' use of personal …

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Banks Hit With $549 Million In Fines For Using Signal And ... - NBC …

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Aug 8, 2023 · At Wells Fargo and other banks, the practice was pervasive and happening at all levels; even the managers responsible for enforcing the rules were guilty of the practice, …

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US Bank Regulator Fines Three Former Wells Fargo Executives Over …

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3 hours ago · The regulator had previously fined eight other former bank executives, including former CEO John Stumpf, a total of $43.2 million. Lawyers for the three did not immediately …

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Schwab, Blackstone Caught In Latest Off-channel Crackdown

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23 hours ago · Regulators have handed down more than $3 billion in penalties over employees' alleged failures to record business-related messages sent on services like WhatsApp.

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FAQs about Regulators caught Wells Fargo, other banks in probe … Coupon?

Are CFPB and Wells Fargo involved in fair lending investigations?

Regulators have ramped up their crackdown on fair lending violations recently, and other lenders besides Wells Fargo have been involved. The CFPB launched 32 fair lending probes last year, more than doubling the investigations it started since 2020. ...

Did regulators accuse Wells Fargo of discrimination or sloppy oversight?

It’s unclear if regulators accused the bank of discrimination or sloppy oversight. The bank’s internal investigation on the matter extended into late this year, said the people. Wells Fargo, until recently the biggest player in U.S. mortgages, has repeatedly felt regulators’ wrath over missteps involving home loans. ...

Why was Wells Fargo snared?

Jakub Porzycki / AP Images Wells Fargo was snared in an industrywide probe into mortgage bankers’ use of loan discounts last year, CNBC has learned. The discounts, known as pricing exceptions, are used by mortgage personnel to help secure deals in competitive markets. ...

Did Wells Fargo get MRA notice from CFPB?

The bank received Matter Requiring Attention (MRA) notice from the Consumer Financial Protection Bureau ( CFPB) on problems with loan discounts, CNBC reported on Monday, citing anonymous sources. It is unclear whether Wells Fargo was accused of discrimination or sloppy oversight, the report noted. ...

What happened to Wells Fargo's 'fake accounts' scandal?

The long-time head of the trade group Airlines for America who helped U.S. airlines win $54 billion in federal COVID relief funds will retire at the end of the year. A U.S. banking regulator said on Tuesday it had fined three former executives at Wells Fargo for their roles in the bank's long-running fake accounts scandal. ...

Why did Wells Fargo rethink its mortgage business?

The behind-the-scenes actions by regulators at Wells Fargo, which hadn’t been reported before, happened in the months before the company announced it was reining in its mortgage business. One reason for that move was the heightened scrutiny on lenders since the 2008 financial crisis. ...