BANKING/LEGAL/TRUMP AS PRESIDENT: “President Donald Trump on Friday [12-8-17] said his administration will continue pursuing sanctions against Wells Fargo, notably dismissing news reports indicating otherwise as inaccurate reporting instead of ‘fake news.’
Reuters reported Thursday that White House budget director Mick Mulvaney, who is doubling as acting director of the Consumer Financial Protection Bureau, is reviewing whether the bank should pay tens of millions of dollars over alleged mortgage lending abuse…
The CFPB began investigating Wells Fargo earlier this year, current and former officials told Reuters. The ‘bad acts’ the president alluded to, according to Vanity Fair, includes employees opening millions of fake bank and credit card accounts in customers’ names without permission and charging hundreds of thousands of people for auto insurance that they didn’t need as well as charging veterans hidden fees to refinance their mortgages.”
-Nolan D. McCaskill, “Trump disputes reports that penalties against Wells Fargo will be dropped,” Politico, Dec. 8, 2017 10:50am