Wells Fargo must pay the US regulators the amount of US$ 3.700 million for fines and reimbursements, before the accusations of crimes related to mortgages and loans.

According to the Consumer Financial Protection Office (CFPB), the financial institution faces charges for “collecting illegal fees and interest on auto loans and mortgages, as well as overdraft fees incorrectly applied to checking and savings accounts.”

In this sense, the CFPB ordered this Tuesday the reimbursement by the bank of 2,000 million dollars to customers. In addition, a fine of 1,700 million was imposed, considered the highest applied by the regulatory entity.

Scandals related to sales, illegal charging of fees and interest, illegal expropriation of vehicles from customers, as well as the illegal opening of millions of accounts by employees to meet established goals, have long haunted Wells Fargo.

According to the CFPB, the bank’s damages extend to more than 16 million customers. “Wells Fargo’s repeated cycle of violation of the law has harmed millions of American families,” Rohit Chopra, director of the agency, said in a statement.

M.Pino

Source: elnuevoherald

(Photo: the-sun, via web)

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La entrada Wells Fargo to pay $3.7 billion in penalties and refunds apareció primero en Bitfinance.

The Popular Party of Spain (PP) introduced a bill that would allow citizens to make be able to make mortgage payments through cryptocurrencies.

Specifically, this initiative would aim to regulate and legitimize numerous emerging technologies within the Iberian nation, including bitcoin, blockchain technology and Artificial Intelligence (AI).

Likewise, the bill also includes other incentives, such as tax exemptions for companies and organizations that use and create solutions based on these technologies. For example, the draft legislation calls for smart contracts to manage various operations in banks that the law would cover.

One of the main attractions of this proposal is the possibility for citizens to make mortgage payments using digital assets, which would encourage the handling of this type of currency.

In addition to its introduction into the mortgage system, it proposes extending it to insurance policies, with smart contracts with conditions based on the procedures to be followed, verification processes and potential incidents.

K. Tovar

Source: DiarioBitcoin

La entrada Spain could include mortgage payments with cryptocurrencies apareció primero en Bitfinance.