U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-26-2019, 10:05 PM
 
6,218 posts, read 1,825,213 times
Reputation: 5988

Advertisements

I was very intrigued to read this item a while ago (and loved Warren's comment). But I hadn't heard about WF being banned from expanding. Is that as unusual as it seems? I'm curious because it's the kind of punishment I thought would be good for telecommuncations companies, but didn't know it was possible.


Warren on Wells Fargo chief's resignation: 'About damn time'
https://thehill.com/policy/finance/4...bout-damn-time
Reply With Quote Quick reply to this message

 
Old 04-26-2019, 10:22 PM
 
Location: Aurora Denveralis
6,527 posts, read 2,293,083 times
Reputation: 10175
Pretty meaningless limitation for a megabank; it just means acquisitions and mergers will be shelved for a while.

And since CFPB has been gutted and hung out to dry, I wouldn't expect much enforcement or loss of sleep for WF's executives. Sure a good thing the R's stomped that little sucker flat, because small government you know.
Reply With Quote Quick reply to this message
 
Old 04-27-2019, 12:12 AM
 
1,885 posts, read 516,114 times
Reputation: 2650
Just because the CFPB has been gutted does not mean that the pressure is off from baseless accusations from " rogue" progressive freshmen congressional candidates, a la AOC

As well as long in the tooth veteran Democrats such as Harris, Booker, Waters and Warren who have an axe to grind against anything and everything that doesn't kowtow to them!

Last edited by Tencent; 04-27-2019 at 01:12 AM..
Reply With Quote Quick reply to this message
 
Old 04-27-2019, 12:16 AM
 
Location: Aurora Denveralis
6,527 posts, read 2,293,083 times
Reputation: 10175
Not to mention purportedly short in the tooth chief executives who throw a tantrum about everything that doesn't kowtow to them. And have their toadies throw out consumer protections on the basis of reducing government size.
Reply With Quote Quick reply to this message
 
Old 04-27-2019, 05:43 PM
Status: "Whiny hipster SoyBeto for POTUS" (set 27 days ago)
 
Location: Brawndo-Thirst-Mutilator-Nation
16,121 posts, read 16,204,890 times
Reputation: 12119
Fedgov hates competition in their "free market" society.
Reply With Quote Quick reply to this message
 
Old Today, 07:45 AM
 
4,017 posts, read 2,167,480 times
Reputation: 4321
Quote:
Originally Posted by Quietude View Post
Pretty meaningless limitation for a megabank; it just means acquisitions and mergers will be shelved for a while.

And since CFPB has been gutted and hung out to dry, I wouldn't expect much enforcement or loss of sleep for WF's executives. Sure a good thing the R's stomped that little sucker flat, because small government you know.
Well the CFPB didn't order the ban - the Fed did. WF cannot expand it's asset base unless it comes up with a plan to address the internal issues they have that the Fed will approve. Their plan was supposed to be approved by now but it looks like they haven't come up with anything and will be operating under the decree for all of 2019.
Reply With Quote Quick reply to this message
 
Old Today, 08:04 AM
 
1,349 posts, read 298,667 times
Reputation: 2287
Restrictions on execution of a bank's business plan is the threat used during the 1st Clinton Administration to twist the arms of banks into extending home mortgage loans to people far down the economic ladder in pursuit of the social welfare agenda of disgraced former Assistant Secretary of Housing and Urban Development for Fair Housing and Equal Opportunity Roberta Achtenberg. Surprise, surprise, people who took out Liar Loans didn't pay them back, ultimately resulting in the Great Recession.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. | Please obey Forum Rules | Terms of Use and Privacy Policy

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top