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30 May 2017, 6:07 pm by Kenneth Vercammen Esq. Edison
      Even if no inheritance tax due, a Tax Waiver on a house must still be obtained and filed if the house was not co-owned by the spouse.INHERITANCE TAX BENEFICIARY CLASSES Class A No Tax §Parent §Grandparent §Spouse §Child of a decedent (includes legally adopted child) §Grandchild, great-grandchild, etc. of a decedent §Stepchild… [read post]
30 May 2017, 6:06 pm by Kenneth Vercammen Esq. Edison
      Even if no inheritance tax due, a Tax Waiver on a house must still be obtained and filed if the house was not co-owned by the spouse.INHERITANCE TAX BENEFICIARY CLASSES Class A No Tax §Parent §Grandparent §Spouse §Child of a decedent (includes legally adopted child) §Grandchild, great-grandchild, etc. of a decedent… [read post]
19 May 2017, 6:08 am
Marcogliese, Cleary Gottlieb Steen & Hamilton LLP, on Tuesday, May 16, 2017 Tags: Accountability, Banks, Board independence, Board leadership, Boards of Directors, Compliance & ethics, Corporate culture, Disclosure, Incentives, Management, Misconduct, Oversight, Reputation, Wells Fargo, Whistleblowers Reviving the U.S. [read post]
16 May 2017, 1:20 pm by Stephen Honig
Triggered in part by the Wells Fargo fiasco, which featured incentivizing sales goals that lead to fraudulent employee behavior, there has been in the governance literature a reexamination of enterprise risk management. [read post]
12 May 2017, 10:41 am by Associated Press
WASHINGTON — There’s the federal criminal investigation into Wells Fargo’s opening of unauthorized client accounts. [read post]
10 May 2017, 7:30 am by Stephen Honig
If things are not going well, such as the recent United Airlines flap about injuring a removed passenger or the Wells Fargo flap about improper opening of customer accounts, boards have been known to make public statements. [read post]
28 Apr 2017, 6:02 am
Gonzalez, Paul, Weiss, Rifkind, Wharton & Garrison LLP, on Saturday, April 22, 2017 Tags: Accountability, Bank boards, Banks, Boards of Directors, Compliance & ethics, Consumer protection, Corporate culture, Financial institutions, Financial regulation, Management, Misconduct, Oversight, Risk oversight, Wells Fargo One Take on the Report of the Independent Directors of Wells Fargo: Vote the Bums Out Posted by Howell E. [read post]
22 Apr 2017, 2:28 pm
Next Tuesday, the 25th of April, the shareholders of Wells Fargo will meet for the first time since the news of the massive Wells Fargo mis-selling scandal broke last September when the firm was hit with penalties of $185 million for opening 1.5 million bank accounts and issuing 565,000 credit cards for customers without their consent. [1] In recent weeks, the two leading proxy advisory firms have recommended negative votes for many of the directors serving on the… [read post]
22 Apr 2017, 2:28 pm
Next Tuesday, the 25th of April, the shareholders of Wells Fargo will meet for the first time since the news of the massive Wells Fargo mis-selling scandal broke last September when the firm was hit with penalties of $185 million for opening 1.5 million bank accounts and issuing 565,000 credit cards for customers without their consent. [1] In recent weeks, the two leading proxy advisory firms have recommended negative votes many of the directors serving on the… [read post]
22 Apr 2017, 6:48 am
On April 10, 2017, a committee of independent directors of Wells Fargo released a 110-page report on the results of an investigation into the root causes of improper sales practices at Wells Fargo’s Community Bank (the “Community Bank”). [1] The report will likely be studied by regulators, congressional committees, financial institutions, and other companies for insights into the causes of problematic sales practices and, more broadly, insights… [read post]
22 Apr 2017, 6:48 am
On April 10, 2017, a committee of independent directors of Wells Fargo released a 110-page report on the results of an investigation into the root causes of improper sales practices at Wells Fargo’s Community Bank (the “Community Bank”). [1] The report will likely be studied by regulators, congressional committees, financial institutions, and other companies for insights into the causes of problematic sales practices and, more broadly, insights… [read post]
11 Apr 2017, 5:37 pm by Kevin LaCroix
”   Coffee also noted that the Wells Fargo scandal and other current corporate scandals have a common denominator, which is the involvement of excessive executive compensation. [read post]
7 Apr 2017, 7:12 pm
And they can bar customers from filing class actions, which for a corporation is a big plus.A new study shows just how advantageous arbitration has been for Wells Fargo. [read post]
7 Apr 2017, 7:12 pm
And they can bar customers from filing class actions, which for a corporation is a big plus.A new study shows just how advantageous arbitration has been for Wells Fargo. [read post]
24 Mar 2017, 6:00 am by Doug Cornelius
The study identified Wells Fargo Advisors as the biggest offender, saying its female advisers were 25% more likely to experience a “job separation” after misconduct than their male counterparts. [read post]
9 Mar 2017, 9:30 pm by Claire Hill
The then-head of Wells Fargo Bank, John Stumpf, blamed “bad apples,” and 5,300 salespeople were fired. [read post]
8 Mar 2017, 9:13 am by John Jascob
By Jacquelyn LumbBank of America Corporation and Wells Fargo & Company may not omit shareholder proposals asking their boards to consider whether divestiture of all non-core banking business segments would enhance shareholder value and whether they should divide into a number of independent firms. [read post]
2 Mar 2017, 5:39 am by Joe Patrice
[The Ringer] * After a massive scandal, Wells Fargo is slashing executive pay in the name of accountability. [read post]