Rogelio V. Solis/AP

Wells Fargo isn't benefitting from the same goodwill investors are showing other big banks, Bloomberg Businessweek reports, as the firm remains dogged by accusations of fraud, discrimination, and forcing customers to buy unwanted products.

  • The series of scandals began last year after the bank admitted that employees had been signing up customers for fake accounts in order to meet ambitious sales goals.
  • Even before finalizing a $145 million settlement with customers, the bank now faces a new set of allegations, including: That it made unauthorized changes to customer mortgages, with some borrowers claiming the practice sent them into bankruptcy; That its loan-issuing process is discriminatory; that it forced roughly 800,000 customers in New York and California to buy unwanted auto insurance
  • Why it matters: Wells Fargo's situation illustrates how even banks with reputations for probity can fall into the trap of scandal, given large, public bank incentives to please investors with ever higher profits.

Go deeper

Bryan Walsh, author of Future
1 hour ago - Health

Rockefeller Foundation commits $1 billion for COVID-19 recovery

A health worker performs a COVID-19 test in New Delhi. Photo: Raj K Raj/Hindustan Times via Getty Images

The Rockefeller Foundation announced on Monday that it will allocate $1 billion over the next three years to address the pandemic and its aftermath.

Why it matters: The mishandled pandemic and the effects of climate change threaten to reverse global progress and push more than 100 million people into poverty around the world. Governments and big NGOs need to ensure that the COVID-19 recovery reaches everyone who needs it.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk — Mark Meadows: "We are not going to control the pandemic"
  2. Health: 13 states set single-day coronavirus case records last week — U.S. reports over 80,000 new cases for second consecutive day.
  3. World: Italy tightens restrictions Spain declares new state of emergency.
  4. Media: Fox News president and several hosts advised to quarantine after possible COVID-19 exposure

Fox News president and several hosts advised to quarantine in COVID-19 precaution

A political display is posted on the outside of the Fox News headquarters on 6th Avenue in New York City in July. Photo: Timothy A. Clary/AFP via Getty Images

Fox News President Jay Wallace and anchors Bret Baier and Martha MacCallum are among those recommended to get tested and quarantine after possible exposure to COVID-19, the New York Times first reported Sunday night.

The big picture: The Fox News contingent, which also included "The Five" show hosts Juan Williams and Dana Perino, were on a charter flight from Nashville to New York following Thursday's presidential debate with a person who later tested positive for the coronavirus.