Janet Yellen lowered the growth regarding the crooked bank—but now finance’s regulators are typical Trump appointees.
The central bank imposed harsh penalties on Wells Fargo—the nation’s fourth-largest bank and its leading home lender—as punishment for its long-term abuse of consumers and employees on Friday, Janet Yellen’s last day as chair of the Federal Reserve. A whole lot more compared to a slap in the wrist, the Fed announced so it would change four people in Wells Fargo’s 16-member board, which it accused of failing woefully to oversee the lender and fix issues that have actually changed it from the corporate symbol up to a general public disgrace. In addition it prohibited Wells Fargo from growing any bigger than its present asset size ($2 trillion) before the regulator is persuaded that the financial institution changed its methods. „Wells Fargo Gets What It Deserves—And Simply over time. Janet Yellen lowered the growth in the crooked bank—but now finance’s regulators are typical Trump appointees.“ weiterlesen