Less than a week after a report alleged, and Wells Fargo admitted, to charging its auto loan customers for unnecessary and unwanted insurance, the bank has been subpoenaed by New York state banking and insurance regulators over the matter. [More]
subpoena
Wells Fargo Subpoenaed Over Alleged Insurance Scheme That Resulted In 25,000 Vehicle Repossessions
By 8.2.17
Court: CFPB Has Authority To Request Seven Years’ Worth Of Foreclosure Documents
By 2.17.17
Back in November, the Consumer Financial Protection Bureau filed a lawsuit against one of the nation’s largest providers of seller-financed homes after it failed to comply with a subpoena to turn over documents related to home foreclosures. This week, a judge upheld the Bureau’s authority to request the documents from Harbour Portfolio Advisors. [More]
Tyson Foods Under Investigation For Alleged Chicken Price-Fixing
By 2.6.17
Tyson Foods, the nation’s largest poultry processor — and the company behind a dizzying array of packaged foods — revealed this week that federal regulators are investigating allegations of price-fixing. [More]
Feds Investigating Wells Fargo After Employees Open 2 Million Fake Accounts
By 9.15.16 — Updated: 9.30.16
Financial regulators recently ordered Wells Fargo to pay $185 million to resolve allegations that the bank’s sales quotas and incentives pushed employees to open millions of unauthorized accounts, but that my not be the end of Wells’ troubles, with the U.S. Department of Justice now looking into the matter. [More]
Feds Investigating Lending Club’s Loan Sales
By 5.17.16
A week after Lending Club’s CEO abruptly left the company, the peer-to-peer lending service disclosed that it had received a federal grand jury subpoena and warned investors it could soon face legal action. [More]
Grand Jury Subpoenas Chipotle Over California Norovirus Outbreak
By 1.6.16
A grand jury is investigating the circumstances surrounding a norovirus outbreak at Chipotle. Not the recent one in Boston that sickened more than 150 people, but the August outbreak in California that left more than 100 employees and customers ill. [More]
New York State Adds Yahoo To Inquiry Into Daily Fantasy Sports Sites
By 11.18.15
Four months after Yahoo announced it would offer sports fans the opportunity to make money by betting on professional athletes’ performances, the company became the latest target in a New York state investigation into the business practices of the currently unregulated multi-million dollar online daily fantasy sports industry. [More]
Feds Subpoena GM Over Subprime Auto Loans
By 8.4.14
After recalling more than 30 million cars and facing a number of investigations, it’s probably safe to bet that General Motors Company would like to put 2014 in the rearview mirror. Before that’s possible the company will have to get through five more months and a new federal investigation into its financing unit regarding subprime auto loans. [More]
Lunatic Overstock CEO Ebullient Over SEC Subpoena
By 5.16.06
We reported last week that the SEC has subpoenaed Overstock.com. And we all already know that Overstock CEO Patrick Byrne is out of his flipping mind. Put those two facts together? This amazing press release straight from Overstock.com, titled (we swear to god!) “Overstock.com Celebrates Receipt of SEC Subpoena.”
