senate

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…

Excerpt from:
Senators push Wells Fargo CEO on pay clawbacks after bogus accounts

senate

As Fed nears rate hikes, policymakers plan for ‘brave new world’

By Jason Lange and Ann Saphir JACKSON HOLE, Wyo. (Reuters) – Federal Reserve policymakers are signaling they could raise U.S. interest rates soon but they are already weighing new tools they may need to fight the next recession. A solid U.S. labor market “has strengthened” the case for the first rate increase since

Here is the original post: 
As Fed nears rate hikes, policymakers plan for ‘brave new world’

senate

Fed cautious on rates due to Brexit, U.S. hiring slowdown: Yellen

The Federal Reserve's ability to raise interest rates this year may hinge on a rebound in hiring that would convince policymakers the U.S. economy is not faltering, Fed Chair Janet Yellen told lawmakers on Tuesday. …

See original here:
Fed cautious on rates due to Brexit, U.S. hiring slowdown: Yellen