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Even with those good deeds in hand, Wells Fargo will probably remain in the political crosshairs for some time, according to analysts and congressional staff. On Oct. 4, Senate Banking Committee Democrats called for Sloan and Wells Fargo Chair Elizabeth Duke to testify about “widespread and persistent failures at the bank.” Wells Fargo’s plan to cut its workforce by up to 10 percent is also attracting ire from Democrats. The bank has to make up ground with regulators too. Last week, Comptroller of the Currency Joseph Otting told lawmakers he was “not comfortable” with the bank’s efforts to make things right with 600,000 auto loan borrowers. During the hearing, Hawaii Democrat Brian Schatz characterized the bank as “beyond repair.”.
Wells’s efforts have been noticed, but the reception has been mixed, according to members black pvd globe cufflinks of Congress and staff interviewed by Reuters, While some say the bank is taking the right steps on a long path to a repaired reputation, distrust of banks stills runs deep, particularly among Democrats, Some lawmakers, such as Senator Elizabeth Warren, have said the bank is still not doing enough to right past wrongs, Representative Bill Huizenga, a Michigan Republican who is a senior member of the House Financial Services Committee, said Wells Fargo has a lot more work to do before lawmakers will take its efforts seriously..
WASHINGTON (Reuters) - A coalition of U.S. business groups fighting President Donald Trump’s trade tariffs has launched an advertisement aimed at telling voters ahead of the midterm elections that the measures are costing American businesses and consumers $1.4 billion a month. The group says that in Michigan, a state with several competitive elections this fall, tariff costs tripled in August from a year earlier, while they more than doubled in places like Texas, Illinois and West Virginia.
Nationally, there was a 45 percent uptick in August compared with the previous August - and the organization cautions not all of the tariffs black pvd globe cufflinks have gone into affect, The group, which branded itself “Tariffs Hurt the Heartland,” crunched tariff payment data by state and nationally and provided the findings first to Reuters, “These tariffs are taxes on American businesses and consumers,” said group spokeswoman Angela Hofmann, “They aren’t paid by other countries, They are paid here at home.”..
It is targeting members of Congress in the “Heartland,” including Ohio, Pennsylvania, Illinois, Indiana and Tennessee. It has planned a nationwide series of town hall meetings, including an event in Pennsylvania on Thursday where it planned to present data showing the state’s businesses paid $45 million more in tariffs in August than a year earlier. The group is also launching a digital advertisement accusing Trump administration officials of downplaying the cost of tariffs while presenting a long list of items subject to new import taxes.
The business coalition hopes voters will voice opposition to the tariffs to Congress members campaigning in their home states ahead of the Nov, 6 midterm elections, The group of more than 100 U.S, industry groups launched a coalition in September to take their fight public against billions of dollars worth of tariffs Trump has imposed in an effort to win concessions or in the belief they will create U.S, jobs, The business coalition includes groups representing some of the nation’s largest companies, black pvd globe cufflinks including members of the National Retail Federation and the Retail Industry Leaders Association, Among groups to join are the American Petroleum Institute, which represents major oil companies like Exxon Mobil and Chevron, and the Retail Industry Leaders Association, which represents retail chains like Target and Autozone..
SAN FRANCISCO/BOSTON (Reuters) - Elon Musk replied with a Tweet saying: “This is incorrect” after the Financial Times reported that outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch was the lead candidate to replace him as Tesla Inc chairman. Tesla has until Nov. 13 to appoint an independent chairman of the board, part of settlements reached last month between Tesla, Musk and U.S. regulators after Musk tweeted in August that he had secured funding to take the electric car maker private.
The SEC settlement capped months of debate and some investor calls for stronger oversight of Musk, whose recent erratic public behavior raised concerns about his ability to steer the money-losing company through a rocky phase black pvd globe cufflinks of growth, The U.S, Securities and Exchange Commission, which said Musk’s tweeted statements about going private were fraudulent, allowed the billionaire to retain his role as CEO while requiring he give up his chairmanship, Musk had said he was considering taking Tesla private at a price of $420 a share, a number that is slang for marijuana, He tweeted the three-word denial of the Financial Times story, on Wednesday at 4:20 pm PT (2320 GMT), about six hours after the newspaper’s post..