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Financial Services

Business
Wells Fargo To Pay States $575M To Resolve Customer Ripoff Claims: NJ, NY, CT Get $34M Wells Fargo To Pay States $575M To Resolve Customer Ripoff Claims: NJ, NY, CT Get $34M
Wells Fargo To Pay States $575M To Resolve Customer Ripoff Claims: NJ, NY, CT Get $34M Wells Fargo Bank has agreed to pay $575 million – including more than $34 million combined to New Jersey, New York and Connecticut – to settle charges that it engaged in a variety of sales, lending, and other improper business practices for more than a decade. The bank also has agreed to pay more than $385 million to 850,000 auto finance customers who were wrongly charged premiums, interest, and fees for forced-place collateral protection insurance, even though they already had the coverage. That includes payments to more than 51,000 customers whose cars were repossessed, according to the m…

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by Jerry DeMarco
Politics
Cuomo Goes National In Battle Against NRA Cuomo Goes National In Battle Against NRA
Cuomo Goes National In Battle Against NRA The National Rifle Association, the nation's top pro-gun lobby and one of its most powerful interest groups, said regulatory efforts by Gov. Andrew Cuomo of New Castle could make it “unable to exist as a not-for-profit or pursue its advocacy mission." Cuomo, on Twitter, responded: "If I could have put the @NRA out of business, I would have done it 20 years ago. I'll see you in court." In a July 20 amended complaint, first reported by the New York Law Journal, the NRA accused Cuomo, as well as state Department of Financial Services Superintendent Maria Vullo, of issuing a “ser…

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by Jon Craig