WASHINGTON, Sept 10 — US bank Wells Fargo on Thursday was hit with a new fine — US$250 million for failing to meet requirements in an agreement to pay previously harmed customers.
“Wells Fargo has not met the requirements of the OCC’s 2018 action against the bank. This is unacceptable,” said Acting Comptroller of the Currency Michael Hsu. In 2018, the OCC and the Consumer Financial Protection Bureau fined the California bank US$1 billion and ordered it to reimburse the harmed customers the amounts improperly taken, and to strengthen the bank’s risk management program.
“The OCC will continue to use all the tools at our disposal, including business restrictions, to ensure that national banks address problems in a timely manner, treat customers fairly, and operate in a safe and sound manner,” he added.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Covid-19: US to double fines for travellers not wearing masks | Malay MailWASHINGTON, Sept 10 ― The Transportation Security Administration (TSA) is doubling fines for first-time offenders who fail to wear masks, effective today, and said repeat offenders could face fines as high as US$3,000 (RM12,443). The White House said President Joe Biden was directing the higher...
Source: malaymail - 🏆 1. / 86 Read more »
Former Germany defender Boateng guilty of bodily harm, fined €1.8m | Malay MailBERLIN, Sept 10 — Former Germany and Bayern Munich defender Jerome Boateng, who this month signed for Olympique Lyonnais, was found guilty of premeditated bodily harm on his former partner, a spokesperson for a court in Munich said on Thursday. He was fined €1.8 million (RM8.8 million). The...
Source: malaymail - 🏆 1. / 86 Read more »
Liverpool’s Klopp says Van Dijk fit, Keita fine after return to club | Malay MailLONDON, Sept 10 — Liverpool defender Virgil van Dijk has shaken off a minor ankle injury sustained while on duty with the Netherlands and will be available for their Premier League visit to Leeds United this weekend, manager Jurgen Klopp said on Thursday. Knee surgery kept Van Dijk sidelined for...
Source: malaymail - 🏆 1. / 86 Read more »
US dollar tracks US yields higher, hits one-week top ahead of ECB | Malay MailLONDON, Sept 8 — The dollar rose to a one-week peak against peers today, buoyed by higher Treasury yields and a weaker euro a day ahead of a European Central Bank policy decision. The dollar index, which measures the currency against six rivals, traded 0.1 per cent higher at 92.628 after earlier...
Source: malaymail - 🏆 1. / 86 Read more »
Fifa’s World Cup plan gets cold response from IOC’s Bach | Malay MailLAUSANNE, Sept 9 — Fifa’s proposals for a shift to a biennial World Cup, which could see the tournament held in the same year as the Summer Olympics, have been given a cold response from the International Olympic Committee (IOC) president Thomas Bach. Bach declined to state whether his...
Source: malaymail - 🏆 1. / 86 Read more »
UK to turn back migrant boats crossing Channel, say reports | Malay MailLONDON, Sept 9 — British authorities will be able to turn back boats carrying migrants across the English Channel under a new strategy approved by interior minister Priti Patel, according to British media reports today. A record 828 people crossed over from France on a single day in late August,...
Source: malaymail - 🏆 1. / 86 Read more »