The senator from Massachusetts wrote to the bank, asking for information on its account closure practices and overdraft fees as described in a New York Times article. Source: NYT > Business – Emily Flitter
Wells Fargo Closed Their Accounts, but the Fees Continued to Mount
When the bank closes customers’ accounts, it doesn’t always mean money stops going out. That can leave customers with hefty overdraft charges. Source: NYT > Business – Emily Flitter
Dear Walmart C.E.O.: You Have the Power to Curb Gun Violence. Do It.
Walmart, the country’s largest retailer and seller of guns, should use its vast economic leverage to force corporate America to confront shooting deaths. Source: NYT > Business – Andrew Ross Sorkin
Foreign-Owned Banks’ Results Could Sweeten Further Under Tax Law
Large U.S. financial institutions reaped a windfall from the 2017 Trump tax cuts. Now foreign banks are pushing for favorable treatment from Treasury. Source: NYT > Business – Jim Tankersley and Peter Eavis
Safe Deposit Boxes Aren’t Safe
When Philip Poniz opened Box 105 at his local Wells Fargo, he discovered it was empty — and that he was totally unprotected by federal law. Source: NYT > Business – Stacy Cowley
Big Banks Are Earning Billions of Dollars. Trump’s Tax Cuts Are a Big Reason.
The five largest United States banks reported tax rates of 22 percent or less for the second quarter this year. Lower taxes helped smooth over earnings rough spots. Source: NYT > Business – Emily Flitter