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UK ex-PM Says Bankers Should be Jailed Or We Will Continue to See Large Scale Bank Fraud

 

 

 

 

 

 

If only more politicians would speak up the same way that Gordon Brown has.

Livinglies's Weblog

“If bankers who act fraudulently are not put in jail with their bonuses returned, assets confiscated and banned from future practice, we will only give a green light to similar risk-laden behaviour in new forms,” Brown says.

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see Jail Bankers or Face the Consequences

The interesting takeaway from Prime Minister Gordon Brown’s comments is his use of the word “fraud.” And the use of that word is widely accepted by most people around the world who were affected by the financial “Crisis” ( would liken it more to an attack).

But virtually all…

View original post 95 more words

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Trump Urged to Keep The CFPB Arbitration Rule Alive — considertheconsumer

The Consumer Financial Protection Bureau‘s leader on Monday urged President Donald Trump to veto a congressional resolution to eliminate an arbitration rule that would give consumers the chance to file class actions against banks and other financial firms, with the aim to keep the CFPB Arbitration Rule intact. CFPB Director Richard Cordray asked the president to…

via Trump Urged to Keep The CFPB Arbitration Rule Alive — considertheconsumer

Everyone should call the White House and let them know that you are urging that President Trump veto the congressional resolution to eliminate the arbitration rule.

Call the President

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Contact the White House

Senate Votes To Kill CFPB Arbitration Rule with Pence Casting the Tie Breaking Vote

The U.S. Senate voted Tuesday to overturn a Consumer Financial Protection Bureau rule that would have prohibited class action bans from arbitration clauses. The Senate voted 51-50 to nullify the CFPB’s arbitration rule, with Vice President Mike Pence breaking a 50-50 tie. All but two Republicans voted in favor of the disapproval resolution, with Sens. Lindsey Graham of South…

via Senate Votes To Kill CFPB Arbitration Rule, Pence Tie Breaking Vote — considertheconsumer

The vote in the Senate with Vice President Pence breaking the tie is just more proof that Donald Trump is just as much a tool of Wall Street and the big corporations as Hillary Clinton.

Wells Fargo accused of lying to Congress about their auto insurance scandal

Wells Fargo was just accused of lying to Congress last year by failing to disclose a brewing scandal in the bank’s auto insurance business. The startling allegation came from Senator Sherrod Brown on Tuesday during a Senate hearing on Wells Fargo’s various scandals. “The company pure and simple lied to this committee — and lied to the […]

via Wells Fargo accused of lying to Congress about auto insurance scandal — Justice League

Wells Fargo Bank admits to charging over 100,000 customers with inappropriate fees for locking in mortgage rates

Wells Fargo is in trouble once again — this time for fees charged to customers trying to nail down a mortgage. The scandal-ridden bank said on Wednesday that some mortgage borrowers were inappropriately charged for missing a deadline to lock in promised interest rates, even though the delays were Wells Fargo’s fault. Wells Fargo said it will […]

via Wells Fargo wrongly hit homebuyers with fees to lock in mortgage rates — Justice League

 

California Legislature approves bill to stop arbitration measure spurred by the Wells Fargo scandal — Justice League

The California Legislature has approved a bill aimed at stopping banks from using arbitration clauses to shield themselves from lawsuits over sham accounts — a direct response to the Wells Fargo scandal. Senate Bill 33 passed the state Assembly on Tuesday and was approved by the Senate on Wednesday. It now goes to Gov. Jerry Brown’s desk. […]

via California Legislature approves to stop arbitration measure spurred by the Wells Fargo scandal — Justice League

That is great news for consumers that the California Legislature passed Senate Bill 33.  Hopefully Governor Jerry Brown will sign the bill. All consumers in California should contact the Governor’s office and ask that he sign Senate Bill 33 right away.

Wells Fargo appeals decision regarding class action lawsuit

How long is this knucklehead going to be CEO? Wells Fargo CEO Tim Sloane is continuing the bank’s history of dumb decisions — this time fighting a class-action suit that other banks have settled.Post photo composite Wells Fargo Chief Executive Tim Sloan has reassured customers he’s doing everything he can to make up for past […]

via Wells Fargo may have just made another boneheaded decision — Justice League

This could turn out to be a huge tactical error by Wells Fargo if the appeals court rules against them and decides to order that their decision be published.

 

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