Banking
Top stories summarized by our editors
12/11/2017

President Donald Trump has tweeted that fines against Wells Fargo are proceeding and might increase. Consumer Financial Protection Bureau acting Director Mick Mulvaney reportedly is reviewing the case.

12/11/2017

Jelena McWilliams, President Donald Trump's nominee to head the Federal Deposit Insurance Corp., has experience working with the Federal Reserve and as chief counsel to former Senate banking committee Chairman Richard Shelby, R-Ala. McWilliams emigrated from the former Yugoslavia and worked her way through college selling cars and knives.

12/11/2017

A deferred-prosecution agreement between HSBC and the Department of Justice under which the bank avoided criminal charges in 2012 is expected to be dismissed after HSBC improved its system and complied with recommendations. HSBC paid $1.9 billion in fines and agreed to changes after prosecutors accused the bank of failing to notice money from drug trafficking and of violating sanctions.

12/11/2017

Kenneth Montgomery will lead the Federal Reserve's Secure Payments Task Force. Montgomery will continue to serve as first vice president and chief operating officer of the Federal Reserve Bank of Boston.

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Banking Exchange
12/8/2017

JPMorgan Chase customers who use multiple products might receive additional price discounts, CEO Jamie Dimon says. The bank might test several options for relationship pricing, modeled after Amazon Prime.

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Reuters
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Jamie Dimon, JPMorgan, Amazon
12/8/2017

The Securities and Exchange Commission has awarded $4.1 million to an anonymous whistleblower who reported a long-running securities law violation and assisted in the subsequent investigation. "The breadth of the SEC's whistleblower program is demonstrated by this case, where the whistleblower, a foreign national working outside of the United States, affirmatively stepped forward to shine a light on the wrongdoing," SEC official Jane Norberg said.

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Accounting Today
12/8/2017

Speculation has begun on who will replace Democrat Al Franken in the Senate, and FSR President and CEO Tim Pawlenty, a former governor of Minnesota, is being named as a potential candidate.

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Al Franken, Tim Pawlenty, FSR, Senate
12/8/2017

Some co-workers may not be receptive to typical time-management strategies, Karen Miller writes. These situations might require a conversation in which you express concern about the person's missed deadlines and ask whether there's a problem with your co-worker's professional or personal life.

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Karen Miller
12/8/2017

A multimillion-dollar fine against Wells Fargo for imposing fees on mortgage borrowers who want low interest rates reportedly is under review by Mick Mulvaney, President Donald Trump's appointee as acting director of the Consumer Financial Protection Bureau. Former Director Richard Cordray approved a possible settlement before leaving, sources say.

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The Hill, Reuters
12/8/2017

Delaware-based WSFS Financial will offer debit card services and payment processing for SoFi Securities in early 2018. Online lender SoFi has been expanding into other financial services.

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Delaware Business Now
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SoFi