banking

Economy

WATCH: Wells Fargo CEO John Stumpf Faces House Panel Over Fake Accounts

3:06pm September 29, 2016

by Bill Chappell

Questions for Stumpf include one about his sale of $13 million in stock, which Rep. Carolyn Maloney calls "by far the largest open-market sale of Wells Fargo stock" in the CEO's tenure.

California Imposes Sweeping Sanctions On Wells Fargo Amid Scandal

8:00pm September 28, 2016

by Merrit Kennedy

California's state treasurer has announced he is suspending major parts of the state's business relationship with Wells Fargo because of a scandal involving unauthorized customer accounts.

Wells Fargo's Unauthorized Accounts Likely Hurt Customers' Credit Scores

4:53pm September 26, 2016

by Jim Zarroli

Regulators say millions of unapproved credit card and bank accounts were opened for Wells Fargo customers. A big question is how to compensate those whose credit scores were hurt by what the bank did.

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Sen. Elizabeth Warren questions John Stumpf, chairman and CEO of Wells Fargo, about the unauthorized opening of customer accounts by Wells Fargo during a Senate Banking Committee hearing Tuesday.

National

'You Should Resign': Watch Sen. Elizabeth Warren Grill Wells Fargo CEO John Stumpf

4:13pm September 20, 2016

by Bill Chappell

"If one of your tellers took a handful of $20 bills out of the cash drawer, they'd probably be looking at criminal charges," Warren tells the bank's CEO.

A video showing a public spanking of bank trainees quickly drew outrage in China after it was posted online.

World News

Video Of Chinese Bank Employees Being Spanked Prompts Suspensions

4:01pm June 21, 2016

by Bill Chappell

Outrage greeted video that showed a trainer going up and down a row of employees, drawing clearly pained reactions from participants he was spanking.

Investors in Zhongjin, a wealth-management company that collapsed this month, demonstrate outside a police office in Shanghai's Hongkou district, demanding repayment of their funds. Police later detained one of the demonstrators for distributing protest T

Chinese Investors Reeling After Wealth Management Firm's Collapse

11:53am April 28, 2016

by Frank Langfitt

The $5 billion Shanghai company was the third financial firm to collapse in China since December. "Every time I take a bite of food," says an investor who lost everything, "I feel I am wasting money."

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In the age of digital alternatives, checks are fading.

Economy

Is It Time To Write Off Checks?

11:14am March 03, 2016

by Zhai Yun Tan

In the age of Venmo and mobile deposits, checks are fading. That's having a wide impact, from the Postal Service to check-printing companies. But many still find room for checks in their lives.

Elizabeth Warren Steps Up Campaign For Liberal Agenda

8:00pm November 18, 2015

by Marilyn Geewax

Sen. Elizabeth Warren, D-Mass., says bipartisan efforts to "reform" the corporate tax code amount to "a giant wet kiss" for the biggest companies. She wants large corporations to pay more in taxes.

5 Years Later, Legacy Of Financial Overhaul Still Being Weighed

5:57pm July 22, 2015

by John Ydstie

Republicans are pushing to roll back Dodd-Frank because they say it over-regulates the financial industry and hurts growth. Supporters say it has made banks stronger and the financial system safer.

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The Bank of England in London in a photograph taken in March. The central bank inadvertently revealed that it was planning for a possible withdrawal of the U.K. from the European Union.

Email Slip Reportedly Reveals United Kingdom Plan For Possible EU Exit

4:33pm May 23, 2015

by Scott Neuman

In the communication that The Guardian says it received accidentally from the Bank of England, officials outlined details of the plan known as "Operation Bookend."