Numeric response-accounts without client consent

Assignment Help Financial Management

Reference no: EM131860622

Former Wells Fargo CEO John Stumpf testified before the Senate Finance Committee regarding the opening of over 2 million accounts without client consent. In some cases, people were charged fees, late fees, and collection fees on accounts they had no knowledge of. This likely negatively impacted people's credit scores. Senator Tester (D-MT) asked Stumpf if the illegal accounts impacted a person's credit score. Stumpf replied that he did not know how the credit rating agencies operated (!!!). Suppose a person would have received a 4.10% interest rate on a 30-year fixed home mortgage of $400,000, but due to Wells Fargo's negligence they instead received an interest rate of 5.27% on the 30-year mortgage for the $400,000 home. How much more would they have to pay over the life of the loan from the higher interest rate?

Numeric Response=

Reference no: EM131860622

Questions Cloud

Examine a specific developing country : In this discussion you are going to consider the most significant obstacles to providing health care to rural areas in a developing country of your choice.

What is principle remaining on the loan : After two years of payments (24 payments), what is the principle remaining on the loan?

Personal results-minimize payment of federal income taxes : Would like your advice on the best way to achieve several desired personal results and minimize payment of federal income taxes.

How is the list being currently challenged : How is the list being currently challenged? What traits do you have that are typically considered "on the list" of the other sex?

Numeric response-accounts without client consent : Former Wells Fargo CEO John Stumpf testified before the Senate Finance Committee regarding the opening of over 2 million accounts without client consent.

What strategy did the purdue owl mention in the regard : Notice the headings in the white paper. They are not typical academic headings. What strategy did the Purdue OWL mention in this regard?

Discuss concept of strategic human resources management : Write 5-7 well-written sentences about an important concept from the strategic human resources management article on Cybersecurity.

Discuss mass communication sets or perpetuates gender agenda : Assignment: Media Effects and Gender- Discuss Mass Communication sets or perpetuates some gender agendas. Provide links to examples.

Why does W L Gore unique management structure work : Why does W. L. Gore's unique management structure work? What trade-offs does W. L. Gore make by using the flat lattice structure

User Account

All Pages