Daily Archives: March 2, 2017

It sure looks like Sessions committed perjury. Here is the federal perjury statute.

 

 

“I did not have communications with the Russians.” – Jeff Sessions at his Jan. 10 Judiciary Committee confirmation hearing

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More Wells Fargo customers may be affected by sales scandal: filing

Oh, oh!!

More Wells Fargo & Co customers may have been affected by a scandal over phony accounts than previously believed, the third-largest U.S. lender said in a regulatory filing on Wednesday.

Wells Fargo had previously estimated that up to 2.1 million customers may have had checking and credit-card accounts opened in their names without their permission over a period of several years.

As part of an expanded review there could be “an increase in the identified number of potentially impacted customers,” Wells said.

The search for unauthorized accounts now covers a broader time frame, from 2009 to September 2016. An ongoing analysis of customer data may also be turning up more affected customers, according to Wells’ annual 10-K filing with the U.S. Securities and Exchange Commission.

Read on.

Wells Fargo Warns a Deeper Review May Uncover More Bogus Accounts

  • Also says banks used its tech for trade in sanctioned nations
  • It alerted authorities and is cooperating with DOJ inquiry

Wells Fargo & Co., seeking to resolve a bogus-account scandal that shook the company last year, warned investors it may find more victims. Separately, it said U.S. authorities are examining whether other firms abused its technology to violate international sanctions.

The bank has expanded a review into how employees pitched accounts and other products to customers, looking at a broader time frame, and is now refining its methodology to identify any improper sales, the company said in an annual regulatory filing. “This work could lead to, among other things, an increase in the identified number of potentially impacted customers,” it said.

In the other matter, Wells Fargo said it discovered overseas banks were using its software tools to help finance trade with countries and entities subject to U.S. sanctions. Wells Fargo said it alerted the Treasury Department’s Office of Foreign Assets Control and is cooperating with a Justice Department inquiry. It doesn’t appear that any of the transactions flowed through accounts at the bank, it said in the filing.

Read on.

Vice News: Used car dealers turning their customers into targets for the cops by hanging them out to dry with their registration papers.

Buying a car and actually owning it in the eyes of the law are not the same thing. Some Americans are finding that out the hard way.

Markeisha Fowlkes needed a car so she could drive a bus.

The single mother of two worked as a bus driver in Los Angeles but lived in Long Beach, California, and the 25-mile, one-way commute—which didn’t even include getting her children to school—made a vehicle of her own a necessity.

So in 2015, Fowlkes saved up enough to purchase a Dodge Charger from a small independent seller, Ace Auto Dealership. As is common at car dealers across America, Fowlkes drove off the lot without registration while the dealer arranged the transfer of ownership with the state DMV. But three weeks later, Ace Auto asked that Fowlkes return the car, claiming it couldn’t find a third-party lender. Because Ace Auto refused to return her $2,000 downpayment, Fowlkes declined to turn over the vehicle, instead making her pre-arranged payments. But her permanent registration and license plates never arrived.

In California, new car owners have 90 days to obtain permanent license plates. After that was when Fowlkes began to attract attention from law enforcement. “They thought the car was stolen,” she told me. “I got pulled over so many times, my kids would see a cop and say, ‘We’re going to get pulled over!'” She took to keeping the dealer sale paper in her glove compartment and would have to sweet talk the police out of ticketing her.

Read on.