The deal would resolve a case brought by customers who took out car loans and were forced to pay for unnecessary auto insurance without their knowledge. Source: NYT > Business – Emily Flitter
White Collar Watch: Do Companies Fear the Law? The Signs Say No
Numerous corporations have been fined in recent years for misconduct. The question is whether the large penalties deter bad behavior. Source: NYT > Business – PETER J. HENNING
Big Bank Earnings Reflect Strength in the Economy
JPMorgan Chase and PNC Financial Services Group reported growth in the first quarter, despite a federal government shutdown that lasted for most of January. Source: NYT > Business – EMILY FLITTER
Bank of America to Raise Minimum Wage to $20 an Hour Over Next 2 Years
A day before he was to testify before Congress, Bank of America’s chief executive, Brian Moynihan, said the lowest-paid workers would earn $17 an hour starting in May and, ultimately, $20 an hour. Source: NYT > Business – EMILY FLITTER
Gun Control Group’s Report Card on U.S. Banks’ Firearms Ties Has Several Fs
Guns Down America graded 15 large consumer banks on their commitment to gun safety and their relationships to the gun industry. Source: NYT > Business – TIFFANY HSU
Could Wells Fargo C.E.O. Be Banking’s Worst Job? It’s Open
Filling the job held by Timothy F. Sloan, who resigned abruptly, could only add to the troubled bank’s challenges. Source: NYT > Business – EMILY FLITTER and STACY COWLEY