banking

Philadelphia Sues Wells Fargo Over Discriminatory Lending Practices

Racial discrimination in mortgage lending is prohibited under the federal Fair Housing Act (FHA). But the city of Philadelphia says the practice is…

Minority Business Owners Still Face Discriminatory Lending

The Community Reinvestment Act was supposed to right many of the wrongs that led to unfair lending practices. But a new study shows…

New App Could Help Refugees Access Bank Accounts, Avoid Black Market

The app uses social media profiles to build a history for prospective bank customers who lack traditional forms of identification.

Wells Fargo’s Woes Continue with Calls to Divest and Oust Board

Wells Fargo's struggles continue as investors call for several members of its board to be replaced. To make matters worse, more cities are…

Wells Fargo’s $110 Million Settlement Leaves Many Questions Unanswered

Wells Fargo will pay $110 million to settle a class-action lawsuit over its dubious retail banking practices. But the bank's legal and ethical…

Could the Rise of ‘Shadow Banks’ Put the U.S. Economy At Risk?

'Shadow banking' refers to nonbank financial services that fall beyond the scope of traditional regulation -- everything from hedge funds to fintech services…

Access to Capital & Economic Renewal: The Public Banking Imperative

Public banking is distinguished from private banking in that its mandate begins with the public's interest. Privately-owned banks, by contrast, have shareholders who…

What Wells Fargo Can Learn from Microfinance

There’s a reason large banks routinely make the list of America’s least liked companies: they treat their customers with remarkable disregard. But banks…

Families Rise Out of Poverty With Financial Health Metrics

In an interview with Toni Johnson, Jennifer Tescher from the Center for Financial Services Innovation (CFSI) explains how better information can help families…

Wells Fargo Faces DOJ Investigation for Bending Military Lending Laws

The Department of Justice could fine Wells Fargo millions for the improper repossession of automobiles owned by members of the U.S. military.

Wells Fargo Docks CEO Pay, Former Employees File Billions in Lawsuits

Former Wells Fargo employees say the banking giant fired them unfairly after they blew the whistle. They've launched a class-action lawsuit against the…

Wells Fargo Shows Why the Banking Sector Still Lacks Consumer Trust

Two million fake accounts later, Wells Fargo's reputation is in tatters. And it is now a poster child of why so many Americans…

Uber’s Subprime Auto Scheme Is the Last Nail in the Sharing Economy’s Coffin

New investments from Wall Street financiers will allow Uber to rapidly expand Xchange Leasing, the ridesharing company’s car leasing division. But many analysts…

JPMorgan Chase’s $100M Investment in Detroit is Paying Off

Back in 2014, JPMorgan Chase made headlines with what it claimed was a $100 million investment in Detroit. Today, the evidence suggests the…

Darden Accused of Stiffing Employees with Payroll Cards

Darden Restaurants, which owns the popular Olive Garden chain, has been accused of cutting costs at the expense of its employees by issuing…