- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Illinois State Treasurer Michael Frerichs has suspended $30 billion in investment activity with Wells Fargo, joining California in taking punitive actions against the bank in response to its recent troubles.
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Joe Mont talks with John Trentacoste, a director at Farient Advisors, on how Wells Fargo’s woes may influence boards’ compensation decisions.
JPMorgan Chase, Wells Fargo Bank, Bank of America, and the company behind online money transfer app Zelle were sued by the Consumer Financial Protection Bureau for allegedly failing to safeguard Zelle’s network and causing customers to lose $870 million, the CFPB alleged.
Banks, credit card companies and other financial mainstays will be required to comply with new data privacy and retail account portability regulations under a sweeping rule issued Tuesday by the Consumer Financial Protection Bureau.
