Billionaire ‘King of Bankruptcies’ to Head Commerce Under Trump

Too much inside information to approve of this guy. It doesn’t matter how far removed the CEO is from the dirty deeds – it’s his ship and he has to take full responsibility. AHMSI aka Homeward Residential IMHO was a dirty, corrupt servicer that played horrific games with families and their lives…and cost the life of a dear friend to suicide due to the painful trauma.

If there was one individual to personally object to it would be crooked Wilbur Ross. While there is some justification for strong financial leaders in the administration because we are so near to a complete and horrific collapse it will take those that know the system to steady the ship as it sinks in the next predicted crash.

One can only hope Ross was a ringer nominated to repay for pre-election support knowing that Congress needed to be able to bounce somebody. Well, we can still dream, can’t we Polly?

justiceleague00's avatarJustice League

NEP’s Bill Black appears on The Real News Network. “Despite promises to ‘drain the swamp,’ Trump chose a man for Deputy Secretary of Commerce who enriched himself at expense of labor and consumers and shipped jobs overseas.”

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Finra sets up hotline for fired Wells Fargo brokers

This ought to be interesting…

justiceleague00's avatarJustice League

The brokerage industry’s self-regulator has asked employees fired by Wells Fargo & Co. WFC, -2.38%   and stripped of their securities registrations to come forward if they have concerns over their treatment, the latest sign of growing scrutiny on the bank.

The request from the Financial Industry Regulatory Authority, or Finra, comes as lawmakers question whether Wells Fargo wrongfully fired employees who pushed back on questionable sales practices and sometimes mischaracterized their behavior on their industry records.

In response to an inquiry by Sens. Elizabeth Warren (D., Mass.), Ron Wyden (D., Ore.), and Bob Menendez (D., N.J.), Finra has said that more than 600 Wells Fargo employees fired during the five-year period that encompassed the bank’s cross-selling scandal had received termination filings known as Form U5s. Such forms document the reasons for the dismissal of brokerage employees, and negative justifications can hinder an adviser from gaining employment elsewhere in the…

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Prudential stops distribution of policy sold through Wells Fargo

justiceleague00's avatarJustice League

U.S. insurer Prudential Financial Inc (>> Prudential Financial Inc) said on Monday it had suspended the distribution of a low-cost life insurance policy through Wells Fargo & Co (>> Wells Fargo & Co), pending a review of how the product was sold by the bank.

California Insurance Commissioner Dave Jones told Reuters on Monday he had ordered an investigation into allegations, the latest regarding Wells Fargo’s sales practices, that retail bankers signed up customers for life insurance policies from Prudential without their permission.

The New Jersey Division of Insurance is also investigating, according to a Prudential spokesman and a news release from Jones’s office. Spokesmen for the New Jersey office had no immediate comment.

The allegations are part of a wrongful termination lawsuit filed by three former managers in Prudential’s corporate investigation division. The lawsuit was filed in New Jersey state court last week.
Read on.

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