A landmark court ruling on Wells Fargo's outrageous overdraft scam has the potential to return hundreds of millions of dollars in stolen funds to consumers all over the country. But like many of the banking scandals from the past decade, there's more to the story than simple bank predation. more »
There are two consumer protection amendments getting serious attention on the Senate floor this week, one of them positive, one of them incredibly destructive. Both revolve around the concept of "preemption"—the ability of federal regulators to block states from enforcing laws aginst banks that operate within their borders. more »
The Financial Crisis Inquiry Commission hearings continue to be a boring mess, peppered with a few moments of significant insight. Throughout most of yesterday's hearing featuring the nation's top bank regulator, Comptroller of the Currency John Dugan, Commissioners treated their witness as a credible expert, rather than a culpable catalyst of the crash. more »
Why did Angelides wait until 3:00 to hit Dugan on preemption? He really went for it, and it was great. Angelides to Dugan: "You tied the hands of the states and then you sat on your hands." more »
The top U.S. bank regulator, John Dugan, hasn't even started testifying before the Financial Crisis Inquiry Commission, but he's already spinning deceptions. more »
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