Business

Wells Fargo CEO Testifies Before Senate In Secret-Accounts Scandal

6:53pm September 20, 2016

by Jim Zarroli

Wells Fargo CEO John Stumpf appeared before the Senate Banking Committee on Tuesday to answer questions about the bank's sales tactics. Bank employees opened as many as 2 million unauthorized accounts in order to meet sales goals and collect bonuses. Wells Fargo agreed to pay a $185 million fine to the Consumer Financial Protection Bureau, but did not acknowledge any wrongdoing. Now the Justice Department is reportedly conducting its own investigation.

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How Presidents Can Help Boost American Economic Mobility

6:03pm September 20, 2016

NPR's Ari Shapiro talks with UC Berkeley economist Enrico Moretti about what it takes to increase economic mobility and how that could change under a President Clinton or President Trump.

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Khalid al-Falih is shown at a conference in Riyadh in January, when he was still chairman of Saudi Arabia's state oil giant, Saudi Aramco. He became the country's oil minister in May. Saudi Arabia has been looking to diversify its holdings, and Aramco is

As Saudi Arabia Diversifies, A Texas Oil Refinery May Be In Its Future

5:26pm September 20, 2016

by Jackie Northam

Analysts say Saudi Arabia's national oil company may be trying to buy a refinery in the U.S. It's part of an effort to build an economy that goes beyond oil exports.

National

Planet Money Watches Crude Oil Transform Into Gasoline At Refinery

4:35pm September 20, 2016

After buying 100 barrels of crude oil and delivering it to a pipeline, NPR's Planet Money team goes to a refinery to see it turned into gasoline.

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.

Under Internal Revenue Service rules, high-deductible insurance plans that can link to health savings accounts can only cover preventive services, such as vaccinations and mammograms, until patients pay down their deductible.

Tax Rule Limits Care For Chronic Ills Under High-Deductible Health Plans

2:06pm September 20, 2016

by Michelle Andrews

The IRS limits health plans linked to health savings accounts from covering most care until the deductible is paid off. Proposed legislation would expand what's allowed before that happens.

National

Gas Shortages, Price Spikes Seen Across The South Following Pipeline Spill

1:06pm September 20, 2016

by Christopher Dean Hopkins

The pipeline's operator plans to have a workaround in place by the end of the week, but in the meantime prices are up 20 to 30 cents per gallon and some stations are running dry.

People attend the Independents' Day Festival in the Franklinton neighborhood of Columbus, Ohio. The city has become a nearly recession-proof hub.

A Diversified Economy Cushions Columbus, Ohio, From Downturns

12:59pm September 20, 2016

by Sonari Glinton

Being the state capital, home to Ohio State University and attractive to younger workers has made Columbus, a nearly recession-proof economic hub of Ohio. Can its success be replicated elsewhere?

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Economy

Wells Fargo CEO John Stumpf To Appear Before Senate Banking Committee

12:56pm September 20, 2016

Earlier this month, regulators fined the bank after it was discovered employees created at least 2 million fake accounts. David Greene talks to Sen. Sherrod Brown, chairman of the banking committee.

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National

Wells Fargo CEO Discusses Secret-Accounts Scandal In Senate Hearing

12:05pm September 20, 2016

by Doreen McCallister

CEO John Stumpf apologized for betraying customers' trust in a hearing by the Senate Banking Committee to answer questions about Wells Fargo employees opening unauthorized customer accounts.