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.
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.
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.
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.
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.
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.
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.
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.