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The $3 billion will settle criminal and civil investigations into a long-running practice whereby company employees opened millions of unauthorized bank accounts in order to meet unrealistic sales goals.
The deal is the latest chapter in Morgan Stanley's transformation from the scrappy, deal-doing, stock-trading investment bank to a more well-rounded financial firm.
Thousands of homeowners have lost their insurance policies in the last few years as insurers pull out of areas that are at risk of fire damage or stop insuring homes altogether.
It's a job designed to protect student loan borrowers from poor practices in the student loan industry and one of the few positions explicitly named in the Dodd-Frank Act, the law passed after the 2008 financial crisis that created the…
The alleged hacker, Paige A. Thompson, obtained Social Security and bank account numbers in some instances, as well other information such as names, birthdates, credit scores and self-reported income, the bank said Monday.
The heads of seven of the largest banks in the U.S. fielded sometimes contentious questions from a House committee Wednesday, some dealing with current risks to the financial system and other focused on more politically charged topics.
Consumer Financial Protection Bureau is getting rid of a requirement that lenders make sure borrowers could afford to repay a payday loan without being stuck in a cycle of debt, a standard known as "ability to repay."…
The government's top official overseeing the $1.5 trillion student loan market resigned in protest today, citing what he says is the White House's open hostility toward protecting the nation's millions of student loan borrowers.
Kathy Kraninger, 43, was a relatively unknown mid-level bureaucrat working inside the Office of Management and Budget before being nominated by President Trump last month to lead the Consumer Financial Protection Bureau.
Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in a wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion…
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