Seattle is on track to end ties with Wells Fargo over the Dakota Access Oil Pipeline.
The Seattle City Council Finance Committee voted 8-0 on Wednesday to divest $3 billion in City of Seattle money out of Wells Fargo over the bank’s role as lender for the Dakota Access Pipeline and seek a more socially responsible bank to manage the city’s money.
A full vote by the Seattle City Council is scheduled for Monday.
JPMorgan Chase disclosed Wednesday that it reached a final settlement agreement with Lehman Brothers, ending the failed investment bank’s lawsuit over claims that JPMorgan illegally siphoned billions of dollars from Lehman before its collapse.
JPMorgan Chase’s final settlement payout checks in at well above $2 billion.
According to a filing with the Securities and Exchange Commission, JPMorgan Chase will pay an additional $797.5 million to Lehman Brothers to settle all remaining “lawsuits, claims, objections and other disputes” brought by Lehman Brothers after its collapse.
The settlement ends Lehman Brothers claims against JPMorgan Chase.
While the Consumer Financial Protection Bureau, with the support of top Democratic Party leaders and 17 Democratic state attorneys general, is fighting in court to defend its leadership structure, a Republican-led effort in the Senate could render the legal battle over the CFPB a moot point.
On Tuesday, Sens. Deb Fischer, R-Nebraska; John Barrasso, R-Wyoming; and Ron Johnson, R-Wisconsin, introduced a bill that would replace the single director of the CFPB with a five-member bipartisan committee, a change the Republican Party has long pushed for.
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