Wells Fargo’s legal troubles are building, the San Francisco bank confirmed on Thursday, noting that the Securities and Exchange Commission is now looking into its sham accounts scandal. The bank has struggled to contain the damage from its acknowledgement in September that thousands of its employees opened accounts customers didn’t ask for,
The Securities and Exchange Commission is probing whether Wells Fargo & Co. violated rules around investor disclosures and other matters relating to its recent sales tactics scandal, people familiar with the matter said. The SEC sent requests for information to the bank asking for documents in recent weeks, following three Democratic senators’ calls in late September for the SEC to
WASHINGTON, Nov 2 (Reuters) – Twelve U.S. senators urged on Wednesday that a national security review panel reject Chinese aluminum giant Zhongwang International Group Ltd’s proposed $2.3 billion purchase of U.S. aluminum products maker Aleris Corp . The senators asked Treasury Secretary Jack Lew in a letter to launch a
PORTLAND, OR – Today, at a news conference outside a Wells Fargo branch in Portland, Oregon, U.S. Senators Jeff Merkley (D-OR) and Al Franken (D-MN) announced that they are calling on federal officials to pursue a robust criminal investigation into the actions of the bank and its executives. Last month,
WASHINGTON, D.C. – Today, Oregon’s Senator Jeff Merkley and Senators Elizabeth Warren and Bob Menendez formally called on the U.S. Securities and Exchange Commission (SEC) to investigate whether Wells Fargo and senior officials violated laws by misleading investors and firing whistleblowers while the bank oversaw the creation of millions of
Washington, DC – Oregon’s Senators Jeff Merkley and Ron Wyden announced today that the full Senate has passed the Water Resources Development Act (WRDA), which includes key job creation and funding opportunities for Oregon communities. The legislation previously passed the Environment and Public Works Committee in April; it must now be
Oregon’s Senator Jeff Merkley released the following statement after the Federal Reserve issued a new report that recommends Congress scrap the loophole that has allowed big banks to own physical commodities: “It is common sense that big banks that are placing bets on the prices of commodities shouldn’t also be
Wells Fargo was flowing with regrets on Friday, taking out ads in nearly a dozen newspapers saying the bank took “full responsibility” for creating sham bank accounts without its customers’ permission. The bank’s chief executive officer, John Stumpf, even called one prominent Democrat in Congress to express his willingness to assume
WASHINGTON, D.C. – Oregon’s Senator Jeff Merkley released the following statement after news that Majority Leader Mitch McConnell will not bring up the Trans-Pacific Partnership (TPP) trade agreement for congressional approval in the post-election lame duck session: “It’s rare for me to agree with Senator McConnell, but in this case
WASHINGTON – Sen. Jeff Merkley , D-Ore., called on Senate Banking, Housing, and Urban Affairs Committee Chairman Richard Shelby on Thursday to act on strong bipartisan support for the Export-Import Bank by confirming the EXIM Bank Board of Directors nominee to restore the operating quorum. Small businesses across America, including
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