Ken Sweet

Wells Fargo will pay a $2.1 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble and subsequent financial crisis.

Wells Fargo to pay $2.1 billion for role in housing bubble

August 1, 2018 at 8:05 p.m.

Wells Fargo agreed Wednesday to pay a $2.1 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble and subsequent financial...

In this Jan. 20, 2018, file photo, Director of the Office of Management and Budget Mick Mulvaney stands during a press briefing at the White House in Washington. Mulvaney, appointed acting director of the Consumer Financial Protection Bureau in November, promised to shrink the bureau's mandate and take a much softer approach to enforcement, and records reviewed by The Associated Press indicate he has kept his word.

Enforcement actions at watchdog agency halt under Trump

December 14, 2018 at 4:45 p.m.

In the 135 days since the Trump administration took control of the nation's consumer watchdog agency, it has not recorded a single enforcement action against banks, credit card companies, debt...

The Consumer Financial Protection Bureau has announced new restrictions on the payday lending industry.

Federal regulator clamps down on payday lending industry

June 2, 2018 at 7:39 a.m.

A federal regulator announced new restrictions Thursday on the payday lending industry, a move that is likely to face resistance in Congress. The Consumer Financial Protection Bureau's finalized rules largely...

Credit reporting agency Equifax is ousting CEO Richard Smith.

Equifax dumps CEO in wake of damaging data breach

August 22, 2019 at 6:02 a.m.

Equifax CEO Richard Smith stepped down Tuesday, less than three weeks after the credit reporting agency disclosed a damaging hack to its computer system that exposed highly sensitive information for...

Securities and Exchange Commission chair Jay Clayton will testify on Capitol Hill in Washington Tuesday.

SEC chairman faces questions from Congress after data breach

June 2, 2018 at 11:43 a.m.

The chairman of the Securities and Exchange Commission is likely to face an especially tough hearing in front of Congress on Tuesday, after the agency acknowledged that it also was...

Two top Equifax executives departing after huge data breach

June 2, 2018 at 3:41 p.m.

Equifax announced late Friday that its chief information officer and chief security officer would leave the company immediately, following the enormous breach of 143 million Americans' personal information.The credit data...

Compared to Enron, Equifax’s troubles deepen amid new disclosure about breach

June 2, 2018 at 4:11 p.m.

Credit agency Equifax traced the theft of sensitive information about 143 million Americans to a software flaw that could have been fixed well before the burglary occurred, further undermining its...

People try out the new iPhone X during a media event at Apple's new headquarters in Cupertino, Calif., on Sept. 12, 2017.

Equifax victims may face another hassle in major purchases, like a new iPhone

June 2, 2018 at 4:52 p.m.

Apple fans who froze their credit after the Equifax data breach may end up with another hassle on their hands if they try to get one of the new iPhones...

The Consumer Financial Protection Bureau has broadly banned the use of so-called arbitration clauses from financial products, making it easier for consumers to sue banks.

Consumer watchdog moves to ban most arbitration clauses, making it easier to sue banks

June 3, 2018 at 1:07 p.m.

Consumers could band together to sue their banks or credit card companies under a federal rule issued Monday that's likely to face resistance from Congressional Republicans and the White House....

Protestors disrupt Wells Fargo annual meeting as chairman says ‘we are deeply sorry’

June 5, 2018 at 7:32 a.m.

Wells Fargo's top management and board of directors apologized to investors and faced a series of protesters Tuesday at the first big shareholder meeting since a scandal over sales practices...

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