Jan 6, 2018

#MeToo sets off a wave of startups

Women protest at the #MeToo rally. Photo: Erik McGregor/Pacific Press/LightRocket via Getty Images

"Entrepreneurs see big opportunity: Helping workers and companies navigate the nightmare of sex harassment allegations" — cover story of tomorrow's WashPost Business section.

Why it matters: "The startups, many of which have female founders or co-founders, want to disrupt a costly and persistent problem."

  • But, but, but: "[S]uch start-ups are entering a market where companies have long been hesitant to spend big to prevent bad behavior. Many large companies already give employees access to third-party phone lines to anonymously report harassment."
  • "[T]he new tools could also create dilemmas for human-resources managers who may not have the wherewithal to act on the information they receive."

Go deeper

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 agrees 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.