{"id":177002,"date":"2020-01-24T21:12:00","date_gmt":"2020-01-25T02:12:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/01\/24\/more-of-this-too\/"},"modified":"2020-01-24T21:12:00","modified_gmt":"2020-01-25T02:12:00","slug":"more-of-this-too","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/01\/24\/more-of-this-too\/","title":{"rendered":"More of This Too"},"content":{"rendered":"
John Stumpf, the disgraced former CEO of Wells Fargo, has been banned from the banking industry for life<\/a>.<\/div>\n

I’d like to see jail time, but this is a more aggressive pursuit of criminal bankers than we have seen in a long time:<\/p>\n

Banking regulators pursuing what they describe as \u201csystemic\u201d misconduct in sales practices at Wells Fargo have reached an agreement <\/a>with former chief executive John Stumpf that bars him from the banking industry and fines him $17.5 million.<\/p>\n

The regulators continue to pursue civil charges, fines and prohibitions<\/a> against five other executives for an array of oversight failures and deceptive methods at the bank.<\/p>\n

The misconduct affected millions of bank customers from 2002 to 2016, according to a statement by the Office of the Comptroller of the Currency, which sought the charges. The regulators have found, among other things, millions of accounts opened for customers without their knowledge.<\/p>\n

While the deceptive practices were carried out by salespeople, regulators said the executives caused the problems by pushing staff to meet unreasonable sales goals and turning a blind eye to the deception.<\/span><\/p><\/blockquote>\n

This is weak tea, but it is still a lot more than the team of Eric “Place” Holder and Timothy “Eddie Haskell” Geithner ever did.<\/p>\n

Seriously, we need to stop the looting, and start prosecuting.<\/p>\n","protected":false},"excerpt":{"rendered":"

John Stumpf, the disgraced former CEO of Wells Fargo, has been banned from the banking industry for life. I’d like to see jail time, but this is a more aggressive pursuit of criminal bankers than we have seen in a long time: Banking regulators pursuing what they describe as \u201csystemic\u201d misconduct in sales practices at …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[368,456,407,437],"class_list":["post-177002","post","type-post","status-publish","format-standard","hentry","tag-corruption","tag-finance","tag-justice","tag-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/177002"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=177002"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/177002\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=177002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=177002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=177002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}