Daily Archives: April 27, 2017

Suit: Wells Fargo targeted ‘undocumented immigrants’ for accounts

Wow, it gets worse and worse for Wells Fargo…

Wells Fargo branches across the country deliberately targeted “undocumented immigrants” to open savings and checking accounts in order to meet aggressive sales goals, according to court documents.

In sworn declarations obtained by Burlingame plaintiff’s attorney Joseph Cotchett, former employees describe a scheme in which Spanish-speaking colleagues would visit places they knew were frequented by immigrants (including construction sites and a 7-Eleven), drive them to a branch and persuade them to open an account. Some employees would give the immigrants $10 apiece to start an account. The events described in the declaration go back a decade.

“The conduct we have come up with is scandalous,” Cotchett said. “It’s outrageous to think that regulators let the bank get away with this.”

Read on.

Single-Payer Health Care Bill Advances in California

SACRAMENTO, Calif. (CN) – Introduced as a hedge against President Donald Trump’s promise to gut former President Barack Obama’s landmark health care law, a California bill establishing universal state-run health care was approved by a state Senate committee Wednesday.

After more than two hours of debate, the Senate Health Committee cleared the Golden State’s latest attempt at adopting universal health care despite key concerns as to how the system will be paid for.

State Sen. Ricardo Lara, D-Bell Gardens, told the Senate Health Committee that Senate Bill 562is the best way to extend health care coverage to almost 3 million uninsured residents and that the state must act with urgency.

“With President Trump’s promise to abandon the Affordable Care Act and leave millions without access to care, California is once again called to lead,” Lara said.

The transformative legislation would create a single-payer health care system, provide health insurance to all California residents regardless of immigration status and allow state regulators to negotiate drug costs with the pharmaceutical industry. If it passes – in the face of opposition from powerful business and health insurance groups – the proposal as drafted would take effect January 2018.

Read on.

Ocwen pulls a PHH: Asks court to declare CFPB unconstitutional, requests DOJ help

Ocwen Financial is pulling a PHH.

Just as PHH did recently, Ocwen is playing the unconstitutional card in its fight against the Consumer Financial Protection Bureau, asking the United States District Court for the Southern District of Florida to declare the CFPB unconstitutional and toss out the CFPB’s lawsuit against the company.

Read on.