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.

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Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 21,020,216 — Total deaths: 761,393— Total recoveries: 13,048,303Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 5,289,323 — Total deaths: 167,948 — Total recoveries: 1,774,648 — Total tests: 64,831,306Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health.
  4. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Politics: Biden signals fall strategy with new ads.

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.

Facebook goes after Apple

Illustration: Lazaro Gamio/Axios

Facebook is seeking to force a face-off with Apple over its 30% in-app purchase commission fee, which Facebook suggests hurts small businesses struggling to get by during the pandemic.

The big picture: Facebook has never publicly gone after Apple, a key strategic partner, this aggressively. Both companies face antitrust scrutiny, which in Apple's case has centered on the very fee structure Facebook is now attacking.