Wells Fargo Sees ‘Possible’ Legal Losses Rising by $500 Million

Wells Fargo Sees ‘Possible’ Legal Losses Rising by $500 MillionThe higher estimate for “reasonably possible” legal losses -- essentially a worst-case scenario -- shows risks grew as the bank and authorities examined abuses in recent months and discussed potential penalties. The change stems from “a variety of matters,” including probes of its sales to retail customers, Wells Fargo wrote Wednesday in an annual regulatory report.




from Yahoo News - Latest News & Headlines https://ift.tt/2SwIna9
via IFTTT

Comments

Post a Comment

Popular posts from this blog

Student's emotional allegation of sexual assault by Hong Kong police sparks investigation and anger

Image
An emotional livestreamed account from a young female student alleging sexual assault at the hands of the police sparked fresh anger and new protests in Hong Kong on Friday. A video of Sonia Ng, who waived her anonymity to make the accusations during an open forum on Thursday night at the Chinese University of Hong Kong, went viral in the financial hub, prompting hundreds of office workers to stage a lunchtime rally against alleged police violence. The Hong Kong police force, currently facing an enormous trust deficit with the public, said it had immediately launched an investigation on Friday morning and had tried unsuccessfully to reach the young woman, who had not yet made a formal complaint. “The Police accord high priority to such a serious allegation and we appeal to the female to provide concrete evidence so that we can proceed with a fair fact-finding investigation,” the force said in a statement on its Facebook page. Ms Ng told the packed university gathering, in the presence ...
Read more

Elizabeth Warren Takes on Democratic Rivals on Fundraising in Speech

Image
(Bloomberg) -- Elizabeth Warren took an unusually aggressive stance against her moderate rivals for the Democratic nomination in a speech billed as an economic address on Thursday.“We know that one Democratic candidate walked into a room of wealthy donors this year to promise that ‘nothing would fundamentally change’ if he’s president,” Warren said, referring to Joe Biden.“We know that another calls the people who raise a quarter-million dollars for him his ‘National Investors Circle’ and he offers them regular phone calls and special access. When a candidate brags about how beholden he feels to a group of wealthy investors, our democracy is in serious trouble,” Warren said, referring to Pete Buttigieg.For months, the Massachusetts senator refrained from directly criticizing her rivals in the race for the Democratic nomination. But Warren has seen her poll numbers slip both nationally and in the first two primary states. With the Iowa caucuses only a couple of months away, she’s taking...
Read more

Furious Over Trump's Decision on Golan Heights, Erdogan Confirms Hagia Sophia Will Become a Mosque

After it was reported that Turkish President Recep Erdogan was considering converting Istanbul’s iconic Hagia Sophia into a functioning mosque, many Orthodox Christians hoped he was just speculating. However, in an interview given yesterday, Erdogan confirmed that the historic site, which was previously a Christian cathedral and a special place of worship for Greek Orthodox Christians, will be turned into an enormous Islamic center. from CBNNews.com https://ift.tt/2FBjMg4
Read more