The Fed Closes In on Wells Fargo

Prior to Janet Yellen had been headed out of the home associated with the Federal Reserve, she did one thing unprecedented into the reputation for the main bank: She slipped a choke chain on Wells Fargo that inhibits its development until it not any longer exhibits “pervasive and persistent misconduct. ”

Among the list of items that require clearing up are legal actions from a small number of cities—Philadelphia, Miami, Oakland, Miami Gardens, and now Sacramento—alleging that the bank’s predatory and lending that is discriminatory minority borrowers trigger a spiral of foreclosures leading to blighted areas which have drained municipal resources. Continuer la lecture de The Fed Closes In on Wells Fargo