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Trump may already have a plan ready to revamp Dodd-Frank

When Jeb Hensarling, the Republican chair of the U.S. House Financial Services Committee, released legislation this summer to weaken the major financial law known as Dodd-Frank, many said it was a prêt-a-porter plan that his party’s nominee, Donald Trump, could easily adopt. Now that Trump is president-elect, he appears to be doing just that. Language about financial services posted on the Trump transition website, www.greatagain.gov, echoes the tone of Hensarling's bill, known

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Trump may already have a plan ready to revamp Dodd-Frank

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Wells Fargo CEO forfeits millions as board orders review

(Reuters) – Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company's board investigates the bank's sales practices. Carrie Tolstedt, the former head of the retail division at the center of a burgeoning sales scandal, has left the company ahead of her planned Dec. 31 retirement date, will get…

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Wells Fargo CEO forfeits millions as board orders review

capitol-hill

Wells Fargo CEO forfeits millions as board orders review

(Reuters) – Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company's board investigates the bank'…

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Wells Fargo CEO forfeits millions as board orders review

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Senate Republicans seek probe of Mylan EpiPen oversight

By Brendan Pierson NEW YORK (Reuters) – Mylan NV faced new scrutiny over price hikes for its anti-allergy EpiPen on Tuesday, with U.S. lawmakers calling for a probe of oversight of the company’s rebates to government healthcare plans…

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Senate Republicans seek probe of Mylan EpiPen oversight

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Senators push Wells Fargo CEO on pay clawbacks after bogus accounts

U.S. Senate lawmakers excoriated Wells Fargo & Co's chief on Tuesday for his oversight of the bank as it opened 2 million bogus customer accounts, potentially laying the groundwork for new rules and reviving questions of whether banks are “too big to fail.” Chief Executive Officer John Stumpf told the Senate Banking Committee on Tuesday that customers who had bogus accounts opened in their name will be made whole and compensated for any damage to their credit rating, but some Democratic senators called for…

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Senators push Wells Fargo CEO on pay clawbacks after bogus accounts

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Witnesses in Shkreli case worried about retaliation: U.S. prosecutors

U.S. prosecutors said several witnesses in the criminal securities fraud case against notorious former pharmaceutical executive Martin Shkreli are concerned about retaliation and have received threats from him in the past. Prosecutors cited the concern about witness intimidation in a brief filed late on Thursday…

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Witnesses in Shkreli case worried about retaliation: U.S. prosecutors