Skip to main content

World economists want Wells Fargo to pay surcharge to protect taxpayers

At the G20 summit in France Friday, the world's leading financial group endorsed a move that would have Wells Fargo pay a surcharge based on their assets to protect taxpayers in case the bank fails.
  • Author:
  • Updated:
    Original:

At the G20 summit in France Friday, the world's leading financial group endorsed a move that would have Wells Fargo pay a surcharge based on their assets to protect taxpayers in case the bank fails.

Next Up

Xcel Energy Center

NHL announces make-up dates for Wild postponements

The Wild will play 40 games in the final 77 days of the regular season.

the mayo clinic - edit

Group says Mayo should be 'severely punished' over research puppy's death

The puppy died two days after undergoing a procedure at a Mayo research facility.

FLickr - minneapolis police - Tony Webster - Feb 2020 - crop

Charges: Man kidnapped woman, sexually assaulted her at gunpoint

The suspect faces three separate felony charges.

mn state capitol january 17 2021

St. Cloud 'Boogaloo Boi' who discussed attack on MN Capitol gets 2 years

He was charged with illegally possessing a machine gun.

Chris Smith

Gophers add All-Ivy League D-tackle from Harvard

Chris Smith will be eligible immediately as a graduate transfer.

school bus

High school basketball team returns from game to find bus driver dead

Members of the girls team returned to the bus to find the driver unresponsive.

covid-19 testing site sign

Minnesota AG sues COVID testing site, alleging it sent false results

Sometimes the company didn't send people their results at all, the lawsuit alleges.

optum headquarters chad davis wikimedia commons

UnitedHealth Group says it made $287B last year, $24B of it profit

The corporation's Optum business represented a significant chunk of that total.

covid

Omicron may have already peaked in Minnesota

Reported cases lag what's happening in real time, so the newly reported cases over the next week or so will still be very high.

MnDot snow plow cam I-35 12-10-21

MnDOT reveals 50 snowplow name finalists

Voting is open through Wednesday, Jan. 26.

gov tim walz

Walz's $2.7B infrastructure plan includes $940M for climate projects

Projects will help Minnesota prevent or adapt to climate change and mitigate its impacts, the governor says.

Related

Wells Fargo drops debit card charge idea

Wells Fargo announced it is canceling a proposed monthly fee of $3 for debit card users. The bank, which controls 36% of Twin Cities banking transactions, made the decision after receiving negative customer feedback.

Hundreds of protesters march from plaza to Wells Fargo in Minneapolis

About 200 demonstrators, chanting 'Banks got bailed out, we got sold out,' marched from the Hennepin County Government Center plaza to Wells Fargo Bank in downtown Minneapolis today.

Ruling requires Wells Fargo to face class action suit

A federal judge in St. Paul rules Well Fargo must face a group lawsuit for promoting a risky securities-lending program. The bank's lawyers say they will appeal.

Immigrants protest Wells Fargo investments in for-profit detention

Somalis and Latinos rallied in Minneapolis to protest the bank's donations to anti-immigrant lawmakers and investments in for-profit prisons that detain immigrants.

Wells Fargo, U.S. Bancorp raise dividends after passing stress tests

Wells Fargo nearly doubled its first-quarter dividend to 22 cents per share. U.S. Bancorp boosted its by 56 percent to 19 cents. It came after the Fed measured how well the banks might hold up in a financial crisis.

Senator asks why Wells Fargo is testing new fee while making record profits

Illinois Democrat Richard Durbin has sent a letter to the CEO of Wells Fargo asking why the bank is charging customers in some states $3 a month to use their debit cards.

Wells Fargo economist forsees slow job growth in 2012

With two straight months of job decline in Minnesota, economist Scott Anderson isn't optimistic. Job losses in formerly strong sectors like transportation and manufacturing are his chief concerns.

Fargo-Moorhead marks another step on the road toward flood protection

Completion of an Army Corps of Engineers report is a milestone on the cities' journey toward completing a flood diversion project. In the new year the focus will turn to Washington, where Congress may consider funding for the project that will help protect 200,000 people from Red River flooding.