May 6, 2018

Saudi king seeks whistleblower protections

King of Saudi Arabia, Salman bin Abdulaziz Al Saud. Photo: Bandar Algaloud/ Saudi Royal Council/ Handout/Anadolu Agency/Getty Images

Employees who disclose financial and administrative corruption in Saudi Arabia would be safeguarded under a new whistleblower protection measure King Salman announced Sunday, per Reuters, citing a report from Saudi-run broadcaster Al Arabiya TV.

The backdrop: The announcement comes during a secretive ongoing anti-corruption campaign in the kingdom, led by Crown Prince Mohammed bin Salman, Saudi Arabia’s 32-year-old heir to the throne, under the guise of modernization. Last year, MBS ordered the arrest and detention of hundreds of influential Saudis, including other royals, and detained them in Riyadh's Ritz Carlton for weeks — until they paid to settle corruption charges with the government.

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Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.