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Business
Saule Omarova testifies before the Senate Banking Committee on Nov. 18 during her nomination hearing to head the Office of the Comptroller of the Currency. Days after withdrawing her nomination, Omarova blamed banks for leading the opposition against her

Saule Omarova gets candid: Banks sank her nomination to become a key regulator

Dec 13, 2021
Days after withdrawing her nomination to become a key banking regulator, Omarova blames banks for distorting her research and creating an ugly environment.
NPR
Business
A person walks through a terminal at LaGuardia Airport in New York on March 6. Wall Streeters are not only back at their offices, they are traveling again at a time when many other companies continue to keep their workers at home.

Only 'wimps' phone it in: Why Wall Street bankers are hitting the road again

Oct 01, 2021
The pandemic forced Wall Street dealmaking into the digital age, but many bankers want to get back to the way things were — and that includes traveling again.
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Business
Tashrima Hossain, who used to work in Wall Street but quit to join Facebook, is part of a growing number of young people who are no longer attracted by the allure of Wall Street despite the rising salaries. She poses for a portrait at Alamo Square in San

Wall Street Is Paying Over $100,000 To Junior Bankers. For Many, That's Not Enough

Aug 15, 2021
Wall Street has a big problem on its hands: Many of the young people it needs to fill its talent pool are having doubts about working in the industry.
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NPR
National
The drilling rig Polar Pioneer outfitting for arctic oil exploration in 2015. A proposed rule from the Trump administration would force banks to offer financing to oil companies, gun-makers, and high-cost payday lenders, even if the banks don't want to d

Trump Regulator's Rule Would Force Banks To Lend To Gun-Makers And Oil Drillers

Jan 11, 2021
The Trump administration is trying to force banks to make loans to gun-makers and to finance payday lenders. Critics call the move bizarre. It's opposed by watchdog groups and banks.
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NPR
Business
Authorities say Wells Fargo bank managers were aware of illegal conduct as early as 2002 but allowed it to continue until 2016.

Wells Fargo Paying $3 Billion To Settle U.S. Case Over Fraudulent Customer Accounts

Feb 21, 2020
The bank agreed to settle charges brought by the Justice Department and the Securities and Exchange Commission over accounts, debit cards and other products that customers did not request.
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KNPR's State of Nevada
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A New State Law May Solve Marijuana's Banking Problem

Aug 09, 2019

The state’s marijuana industry is booming.

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NPR
Politics
A bipartisan group of attorneys general is urging Congress to pass legislation that would make it easier for banks to handle money involved in the legal cannabis industry.

38 Attorneys General Ask Congress To Bring Marijuana Money Into Banking System

May 09, 2019
Most states have legalized marijuana in some form. But federal law still considers it an illegal drug, which exposes banks to legal risk if they handle weed-related money or transactions.
NPR
Business
Tom DiGiovanni's job as chief financial officer for Canndescent involves managing bags of cash by the millions which must be counted, then hauled in armored vehicles.

Bags Of Cash, Armed Guards And Wary Banks: The Edgy Life Of A Cannabis Company CFO

Apr 10, 2019
Being chief financial officer in a pot business requires lots of workarounds, including hiring heavily armed guards. Few financial firms are willing to service a market that remains federally illegal.
NPR
Business
Wells Fargo CEO Timothy Sloan is questioned by the House Financial Services Committee  earlier this month. He will step down immediately, the company announced Thursday.

Wells Fargo CEO Quits In Wake Of Consumer Financial Scandals

Mar 28, 2019
Wells Fargo announced Thursday that CEO and President Tim Sloan will step down immediately. The company's general counsel Allen Parker was elected to run the company until a new CEO is selected.
NPR
Business
Wells Fargo CEO Timothy Sloan faced hours of questioning Tuesday from both Republicans and Democrats on the House Financial Services Committee.

CEO Says Wells Fargo Has Transformed After Scandals; Lawmakers Are Skeptical

Mar 12, 2019
Both Republican and Democratic lawmakers question whether Wells Fargo has changed its culture away from fraud and mismanagement that have led to billions in fines and penalties against the bank.
NPR
Business
The Urban Deli cafe in Stockholm no longer accepts cash for any transactions. Going cashless is a growing trend throughout Sweden that some are beginning to question.

Sweden's Cashless Experiment: Is It Too Much Too Fast?

Feb 11, 2019
In Sweden, few people use cash anymore. Most people pay by card, online or with digital apps, and that trend is spurring a new debate on whether going cashless is fair for everyone.
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NPR
World

U.S. Seeks To Extradite 3 Ex-Credit Suisse Bankers Accused Of Fraud in Mozambique

Jan 04, 2019
The three were allegedly at the center of a scheme that loaned $2 billion to Mozambique for sham tuna fishing and naval projects.
KNPR
KNPR's State of Nevada
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Bank Shuts Down Marijuana CEO's Personal Account

Sep 10, 2018

Banking is tricky when it comes to legal marijuana.

Banks can accept money made in the marijuana business, but most won’t because it’s still illegal under federal law.

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NPR
Business
Comptroller of the Currency Joseph Otting, a former bank executive, is testifying before Congress this week about reshaping some banking rules.

Former Banker, Now Regulator Wants To Allow Banks To Make Payday-Style Loans

Jun 14, 2018
Comptroller of the Currency Joseph Otting is a former bank executive testifying before Congress this week about reshaping some banking rules. He wants big banks to start making small-dollar loans.
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NPR
The Two-Way
Rep. Gregory Meeks, D-N.Y., asked pointed questions of Wells Fargo CEO John Stumpf on Thursday, including why 5,300 employees had been fired over millions of bogus accounts but Stumpf remains in charge.

WATCH: Wells Fargo CEO John Stumpf Faces House Panel Over Fake Accounts

Sep 29, 2016
Questions for Stumpf include one about his sale of $13 million in stock, which Rep. Carolyn Maloney calls "by far the largest open-market sale of Wells Fargo stock" in the CEO's tenure.
NPR
The Two-Way
State Treasurer John Chiang (right) at a news conference in Sacramento, Calif., in May. On Wednesday, Chiang announced he is suspending major parts of the state's business relationship with Wells Fargo because of a scandal involving unauthorized customer

California Imposes Sweeping Sanctions On Wells Fargo Amid Scandal

Sep 28, 2016
California's state treasurer has announced he is suspending major parts of the state's business relationship with Wells Fargo because of a scandal involving unauthorized customer accounts.
NPR
Your Money
At a hearing last week, Senate Banking Committee member Sen. Jon Tester, D-Mont., told Wells Fargo CEO John Stumpf that the bank's actions could have a big impact on customers' credit histories.

Wells Fargo's Unauthorized Accounts Likely Hurt Customers' Credit Scores

Sep 26, 2016
Regulators say millions of unapproved credit card and bank accounts were opened for Wells Fargo customers. A big question is how to compensate those whose credit scores were hurt by what the bank did.
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NPR
The Two-Way
Sen. Elizabeth Warren questions John Stumpf, chairman and CEO of Wells Fargo, about the unauthorized opening of customer accounts by Wells Fargo during a Senate Banking Committee hearing Tuesday.

'You Should Resign': Watch Sen. Elizabeth Warren Grill Wells Fargo CEO John Stumpf

Sep 20, 2016
"If one of your tellers took a handful of $20 bills out of the cash drawer, they'd probably be looking at criminal charges," Warren tells the bank's CEO.
NPR
The Two-Way
A video showing a public spanking of bank trainees quickly drew outrage in China after it was posted online.

Video Of Chinese Bank Employees Being Spanked Prompts Suspensions

Jun 21, 2016
Outrage greeted video that showed a trainer going up and down a row of employees, drawing clearly pained reactions from participants he was spanking.
NPR
Parallels
Remy Xu put more than $150,000 of his family's savings into Zhongjin Capital Management, which police raided this month. Xu thinks the government shut down the company to protect state banks. "I've absolutely stopped trusting the government," he says.

Chinese Investors Left Reeling After Wealth Management Firm's Collapse

Apr 28, 2016
The $5 billion Shanghai company was the third financial firm to collapse in China since December. "Every time I take a bite of food," says an investor who lost everything, "I feel I am wasting money."
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NPR
Business
In the age of digital alternatives, checks are fading.

Is It Time To Write Off Checks?

Mar 03, 2016
In the age of Venmo and mobile deposits, checks are fading. That's having a wide impact, from the Postal Service to check-printing companies. But many still find room for checks in their lives.
NPR
Politics
Sen. Elizabeth Warren, D-Mass., at the National Press Club Wednesday. Warren was critical of President Obama's plan to change how U.S. multinational companies are taxed.

Elizabeth Warren Steps Up Campaign For Liberal Agenda

Nov 18, 2015
Sen. Elizabeth Warren, D-Mass., says bipartisan efforts to "reform" the corporate tax code amount to "a giant wet kiss" for the biggest companies. She wants large corporations to pay more in taxes.
KNPR
Newscast headlines

Las Vegas Data Company Says it Wants To Expand In Michigan

Nov 17, 2015

GRAND RAPIDS, Mich. (AP) — A Las Vegas company says it plans to build a high-tech data center in western Michigan if state lawmakers approve tax breaks.

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NPR
Business
President Obama signs the Dodd-Frank financial overhaul bill in Washington on July 21, 2010. Five years later, debate over the effectiveness of the legislation continues.

5 Years Later, Legacy Of Financial Overhaul Still Being Weighed

Jul 21, 2015
Republicans are pushing to roll back Dodd-Frank because they say it over-regulates the financial industry and hurts growth. Supporters say it has made banks stronger and the financial system safer.
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NPR
The Two-Way
Jon Cunliffe, center, then Britain's International Economic and EU Advisor, stands behind Prime Minister David Cameron in November 2011 as he speaks with U.S. President Barack Obama, and German Chancellor Angela Merkel at a G20 Summit. The Guardian repor

Email Slip Reportedly Reveals United Kingdom Plan For Possible EU Exit

May 23, 2015
In the communication that The Guardian says it received accidentally from the Bank of England, officials outlined details of the plan known as "Operation Bookend."

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