{"id":13377,"date":"2017-12-21T08:51:58","date_gmt":"2017-12-21T14:51:58","guid":{"rendered":"http:\/\/huewhite.com\/umb\/?p=13377"},"modified":"2017-12-21T08:51:58","modified_gmt":"2017-12-21T14:51:58","slug":"power-prestige-and-profit-the-wells-fargo-debacle-ctd-6","status":"publish","type":"post","link":"https:\/\/huewhite.com\/umb\/2017\/12\/21\/power-prestige-and-profit-the-wells-fargo-debacle-ctd-6\/","title":{"rendered":"Power, Prestige and Profit: The Wells Fargo Debacle, Ctd"},"content":{"rendered":"<p>Continuing our <a href=\"https:\/\/huewhite.com\/umb\/2017\/12\/14\/power-prestige-and-profit-the-wells-fargo-debacle-ctd-5\/\" target=\"_blank\" rel=\"noopener\">shamelessly critical coverage<\/a> of <em><strong>Wells Fargo<\/strong><\/em>, now they&#8217;ve found another way to cash in: the new tax change bill. <a href=\"https:\/\/www.vox.com\/policy-and-politics\/2017\/12\/19\/16795540\/wells-fargo-republican-tax-bill\" target=\"_blank\" rel=\"noopener\">From<\/a> <em><strong>Vox<\/strong><\/em>:<\/p>\n<blockquote>\n<p id=\"dXGYc2\">Wells Fargo in 2016 was\u00a0<a href=\"https:\/\/www.nytimes.com\/2016\/09\/09\/business\/dealbook\/wells-fargo-fined-for-years-of-harm-to-customers.html\">fined<\/a>\u00a0$185 million for issuing millions of fake credit card accounts. In 2017, it was caught\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/wells-fargo-bankers-chasing-bonuses-overcharged-hundreds-of-clients-1511830230\">overcharging clients<\/a>\u00a0on currency trades and\u00a0<a href=\"https:\/\/newsroom.wf.com\/press-release\/consumer-lending\/wells-fargo-announces-plan-refund-customers-mortgage-rate-lock\">improperly charging\u00a0<\/a>homebuyers to lock into low mortgage rates.<\/p>\n<p id=\"f9ZS8A\">And in 2018, it could be about to get the best tax deal of all the big banks.<\/p>\n<p id=\"SLwHDZ\">The\u00a0<a href=\"https:\/\/www.vox.com\/policy-and-politics\/2017\/12\/14\/16773202\/republican-tax-bill-reform-cuts-conference-committee-senate-house\">Republican tax bill<\/a>, which seeks to lower the corporate tax rate to 21 percent from 35 percent, would lead to an average 14 percent in earnings growth for seven of America\u2019s largest banks next year, according to a Monday note from Goldman Sachs analyzing the plan\u2019s implications. (Goldman does not include itself in its analysis.) The biggest winner: Wells Fargo, which would see its earnings jump by 18 percent thanks to the GOP proposal.<\/p>\n<\/blockquote>\n<p>I would not believe this is accidental.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Continuing our shamelessly critical coverage of Wells Fargo, now they&#8217;ve found another way to cash in: the new tax change bill. From Vox: Wells Fargo in 2016 was\u00a0fined\u00a0$185 million for issuing millions of fake credit card accounts. In 2017, it was caught\u00a0overcharging clients\u00a0on currency trades and\u00a0improperly charging\u00a0homebuyers to lock into \u2026 <a class=\"continue-reading-link\" href=\"https:\/\/huewhite.com\/umb\/2017\/12\/21\/power-prestige-and-profit-the-wells-fargo-debacle-ctd-6\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13377","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/13377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/comments?post=13377"}],"version-history":[{"count":2,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/13377\/revisions"}],"predecessor-version":[{"id":13390,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/13377\/revisions\/13390"}],"wp:attachment":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/media?parent=13377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/categories?post=13377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/tags?post=13377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}