Enforcement actions

The embattled company has begun offering cash bonuses to certain customers who open accounts, but at least for now pricey deposit rates would not ensure that customers stick around, executives said Friday.

The Consumer Financial Protection Bureau said Friday that Anthony Alexis, its enforcement chief, plans to leave the agency after more than five and a half years.

Wells Fargo CEO Tim Sloan took heat from Senate Democrats, who questioned his fitness for the job, the bank's use of mandatory arbitration clauses and even whether its charter should be revoked.

Ocwen Financial reached a settlement with 10 states under which it can't acquire servicing rights for eight months but will not face any financial penalties.

The GOP inquiry appears aimed at providing more ammunition for potentially ousting Director Richard Cordray, but the report's impact may be limited.

The Consumer Financial Protection Bureau fined an Indiana title company $1.25 million on Wednesday for steering borrowers to an affiliated title insurer without disclosing that three executives are part owners of the insurer.

The Consumer Financial Protection Bureau may have commissioned some examiners before they were prepared, a new report has found.

In a July order, the FDIC fined a former Oklahoma banker $125,000 and banned him from banking, prompting questions by Rep. Elijah Cummings, D-Md., over whether he is fit to serve as a top adviser at the EPA.

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.

Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.