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Wall Street has already made a killing off Trump's corporate tax cuts. In just three months, Wells Fargo, JP Morgan Chase, BoA, and Citigroup hauled in more than $2.5 billion because of lower corporate rates.
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!
Breaking News: U.S. regulators are expected to fine Wells Fargo $1 billion for a range of alleged misdeeds, in the biggest bank penalty of the Trump era
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
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.
JUST IN: Major teachers union cuts ties with Wells Fargo over NRA connections
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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Teachers union threatens to cut ties with Wells Fargo over NRA support
- $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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