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Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, if anything, substantially increased. I will cut Regs but make penalties severe when caught cheating!
For months, I have repeatedly pressed Janet Yellen to hold Wells Fargo accountable for its fake accounts scam and push out responsible Board Members. Today she did it – in her last act as Fed Chair.
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In just 9 years the CFPB has secured almost $12 billion in consumer relief for corporate wrongdoing, including $700 million from Citi and Bank of America, $100 million from Wells Fargo for opening millions of fake bank accounts, and $130 million owed to service members/veterans
- $3.3 billion for Wells Fargo & $3.4 billion cut from heating assistance
- $5.9 billion for Exxon & $4.4 billion cut from rental assistance
- $1.4 billion for the Kochs & $1.4 billion cut from after school programs

No wonder can’t defen@MickMulvaneyOMBd the .#TrumpBudget
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JUST IN: Wells Fargo hikes its hourly pay rate to $15 & will aim for $400M in philanthropic donations next year due to the newly-passed GOP tax bill.
How many people at Wells Fargo are going to jail? Zero. But if you smoke marijuana in this country, you get a criminal record.
The massive fraud at Wells Fargo showed the whole country that we need more accountability on Wall Street. But for more than a year, we've watched a @realDonaldTrumps and his government have raced to turn the big banks loose again to once again threaten our whole economy.
Goldman estimated that the tax cut would increase Wells Fargo's profits by $3.7 billion next year. So they're basically tithing.
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