Wells Fargo CEO tells Congress bank has doubled down on regulatory issues

REUTERS

New Wells Fargo & Co Chief Executive Charlie Scharf testified on Tuesday that substantial change was underway at the bank as lawmakers grilled him on the status of its remediation efforts. read more »

Fifth Third Bank Opened Fraudulent Accounts, Consumer Bureau Says

NEW YORK TIMES

For more than eight years the bank ignored signs that employees were opening unauthorized accounts to meet aggressive sales goals, a federal regulator said in a lawsuit. read more »

U.S. SEC steps up scrutiny of private debt 'financial games'

REUTERS

The top U.S. securities regulator has increased its scrutiny of private funds that make higher-risk loans over the last two years, according to a Reuters review of SEC actions and industry and regulatory sources — just as fears of a global recession hit the booming private credit market. read more »