Senators will soon vote on the confirmation of Walter Joseph “Jay” Clayton to serve as chair of the Securities and Exchange Commission (SEC). Public Citizen believes Clayton fails the key tests of qualification for this important position, including those set out by President Trump…
Since Congress enacted the Wall Street Reform and Consumer Protection Act in 2010 in response to the biggest Wall Street crash since 1929, the economy has improved. Unemployment is down. Bank loans are rising, even bank profits are setting records.
Disclosures from a sick Wells Fargo obviously soil the efforts of deregulators on many issues. One of these is the very issue of disclosure.
In the Wells Fargo scandal, more than 5,300 employees created more than 2 million accounts unsolicited accounts for their customers.