December 3, 2020

Pfizer rolling back drug price hikes after talk with Trump

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From Newsmax President Donald Trump on Tuesday said Pfizer Inc was rolling back drug prices after he spoke with Pfizer’s chief executive officer and U.S. Health and Human Services Secretary Alex Azar. “We applaud Pfizer for this decision and desire other companies do the same,” Trump said in a tweet. On Monday, Trump took aim […]

The Editor speaks: No Robin Hood v The Sheriff of Nottingham

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We have another case today (published in iNews Briefs) of banking fraud. The story is headlined “Banks accused of rigging Canadian rate benchmark”. It involves “Nine large banks, including six from Canada”, who have been accused of “conspiring to rig the Canadian Dealer Offered Rate from Aug. 9, 2007, to June 30, 2014.” They potentially […]

$12 billion lawsuit claims CenturyLink routinely ‘defrauded’ cable customers

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By Chris Mills From BGR It’s tough being a cable company. You have this perfect monopoly over a valuable resource, but customers keep on complaining about “service” and “price” and “satisfaction.” So your only option to generate more record profits is simple: just tell your sales reps to stick extra services and charges on the […]

Wells Fargo tries, fails to explain why customers shouldn’t be allowed to sue over fake accounts

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By Chris Morran From Consumerist Wells Fargo has admitted that thousands of its employees opened fake, unauthorized accounts in customers’ names, but the bank is doing everything it can to prevent these wronged customers from having their day in court. We asked Wells Fargo to explain why it believes hundreds of thousands of Americans shouldn’t […]

Wells Fargo already playing its ‘Get Out Of Jail Free’ card to avoid lawsuits over fake accounts

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By Chris Morran From Consumerist Wells Fargo is facing multiple lawsuits from customers and employees over the long-running fake account fiasco that saw more than two million bogus, unauthorized accounts being opened in customers’ names. Even though lawmakers and consumer advocates have repeatedly asked the bank to not sidestep its liability by using an often-ignored […]

The disturbing Facebook scandal we’re all ignoring

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By David Dayen, The Fiscal Times From Business Insider Imagine if a report came out showing evidence that Wells Fargo violated the Fair Housing Act by hiding certain home listings from African-Americans. Every politician in Washington would condemn the bank for illegal practices. The Justice Department would be inundated with letters demanding prosecution. Congressional committee […]

Ohio also decides it’s time to take a break from doing business with Wells Fargo

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By Chris Morran From The Consumerist Following in the footsteps of Illinois and California, the state of Ohio has become the latest to take a break from doing business with Wells Fargo until the dark cloud of the current fake account fiasco passes. Gov. John Kasich broke the news on Friday that the state will […]

US Lawmaker presents Wells Fargo with evidence of potential account fraud from 200

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By Chris Morran From Consumerist At [Thursday’s 29 contentious House Financial Services Committee hearing on the Wells Fargo fake account fiasco, CEO John Stumpf said his bank was reviewing accounts going back to 2009 to see how long employees had been opening new accounts in customers’ names without authorization. Now one member of Congress says there […]

How much of America do foreigners really own?

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By Joseph Adinolfi From Marketwatch The Commerce Department released its latest data on foreign ownership of U.S. assets on Tuesday. And its findings may be surprising to some. According to the data, the value of foreign-owned American assets climbed to $32.5 trillion in the second quarter, while total foreign assets held by Americans reached $24.5 […]

Sources: FBI seeks documents on bond issues

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By Eva Lloréns Vélez From Caribbean Business SAN JUAN – The Federal Bureau of Investigations (FBI) has allegedly requested documents from investment firms as part of a probe into the $3.5 billion general-obligation bond issue of 2014 and a $600 million bond issue by the Puerto Rico Electric Power Authority (Prepa) in 2013, according to […]