Your Daily Dose of Financial News


Aaaaaand, we’re back.  Let’s get crackin’ on a Monday morning.

Wells Fargo has reportedly uncovered another trove of unauthorized accounts, according to a regulatory filing on Friday. The bank also disclosed a CFPB investigation over potential harm to customers over its practice of freezing (and sometimes closing) accounts “suspected of being affected by fraudulent activity” – NYTimes and Bloomberg and Law360

On Friday, a federal jury in NYC found pharma bro Martin Shkreli guilty of three (of eight) counts of fraud after five days of deliberations and five weeks of trial – NYTimes and WSJ and Bloomberg and Law360

Outcry against the CFPB’s July rule making it easier for consumers to sue banks was swift and fierce, but legislation aimed at overturning it—which sailed through the House—is facing an unexpectedly tight test in the Senate – WSJ

And speaking of the embattled consumer protection agency, it’s been cleared to continue its suit against student loan servicing giant Navient after surviving a constitutionality challenge – Law360

The Sunday Times included a long feature on the work of the second-richest woman in America to reinvent (and reinvigorate) Beloit, Wisconsin – NYTimes

The Bitcoin roller coaster is back up again, with the cryptocurrency surging past $3000 this weekend and surpassing a $50 billion market cap for the first time ever – MarketWatch

Regulators’ Wall-Street-focused penalties have dropped precipitously in the first half of 2017 as compared to a year ago due to a combination of factors that includes a new direction from the White House and the continued wind-down from financial-crisis-related cases – WSJ

Some behind-closed-doors discussions at Google over gender inequality have become very public, and Google’s new diversity chief isn’t sitting idly by – Bloomberg

A review of last Friday’s jobs report numbers, which saw 209,000 jobs added and an unemployment rate drop back to 4.3% – NYTimes and WSJ and Bloomberg

Apple’s apparently going full Dick Tracy with its next AppleWatch iteration – Bloomberg

Why buy new Nikes when you can hunt for them? For sneakerheads, it’s all part of the allure – Mashable

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