Federal Reserve News

Wells Fargo Must Face Shareholder Fraud Claims Over its Recovery From Scandals

NEW YORK — A federal judge on Thursday rejected Wells Fargo & Co’s bid to dismiss a lawsuit claiming it defrauded shareholders about its ability to rebound from five years of scandals over its treatment of customers. The fourth-largest U.S. …

Icy Weather Sends Industrial Production Down 2.2% Last Month

WASHINGTON (AP) _ Industrial output fell sharply in February as severe winter storms battered much of the country, disrupting a wide range of manufacturing activities from autos to chemical plants. The expectation is that the drop will be temporary although …

Tarullo Says Fed Restrained to Bank-Based Approach for Insurers

The Federal Reserve is working to modify a bank-based capital model to cover insurance companies as much as they can under Dodd-Frank Act restraints, Fed Governor Daniel Tarullo told lawmakers at a Senate hearing. “We’re not in a position to …