wells fargo continues to be in the hot seat. regulators across the board are under pressure, more so than even before to demonstrate they are on top of what happened at wells fargo, and more broadly at other big banks. wells fargo has a lot of work, and continues to do a lot of work to renovate this. >> you mentioned them reaching out to customers and employees. what exactly have they been doing to help affected customers, to help employees who might have gotten fired? elizabeth: that's part of their strategy as well, several different aspects of how they are helping to -- particularly one issue, i will give an example, helping identify customers whose credit score might have been affected by having the bank opening an account, which could have negatively affected their credit score. the bank is working with credit bureaus and others to identify any of those customers who might have been affected, and fix it so the credit scores are not harmed. they're taking many steps to demonstrate and rebuild trust, as well as actually fixed

my name is brenda wright and i manage the community relations for wells fargo. and in that capacity i over see the economic development programs for for the west, and the wells fargo. so the members can actually have access to funding, if you look at the libraries that are now in some of the lower income communities in the bay view, hunter's point, and in the fillmore, and you will know that wells fargo was the largest corporate funder of this project. and throughout the bay view, and i mean, that there are just so many things that we can say, and that i would say that because of those 8,000 team members, and they devoted the hours and do this with the best interest at heart and thank you for hearing me. >> thank you. >> i have run wells fargo banking division, and the commitment to the california public sector remains steadfast, in the past year, as other banks have terminated, other cities and counties, wells fargo has continued to be committed and we have not resorted to levels. we provide the trustees for the bonds and overriding and banking services includi

as a bad player bernie sanders talked about banks that are too big to fail the k if wells fargo has been deference at all levels to the state and look like time after time bailed out wells fargo wells fargo is bailing us not bailing us out but failing us miserably we should be creating sanctions against wells fargo they drautsd u defrauded customers and bankrupted families and city's in the wake we need a different approach in san francisco this resolution is about cutting ties with many of the services the city and county of san francisco receives from wells fargo and i do have some amendments here i'll be proposing here today, we got a report if the controller's office about where we have our closet ties to work and services from wells fargo we want to thank ben rosenfield and the controller's office for putting together that document for us which we've all received colleagues a represents that we don't cut wells fargo from underwriting our bonds and that is a significant service because as a result of taking away working with wells fargo we will see that the bonds bids might come

as a bad player bernie sanders talked about banks that are too big to fail the k if wells fargo has been deference at all levels to the state and look like time after time bailed out wells fargo wells fargo is bailing us not bailing us out but failing us miserably we should be creating sanctions against wells fargo they drautsd u defrauded customers and bankrupted families and city's in the wake we need a different approach in san francisco this resolution is about cutting ties with many of the services the city and county of san francisco receives from wells fargo and i do have some amendments here i'll be proposing here today, we got a report if the controller's office about where we have our closet ties to work and services from wells fargo we want to thank ben rosenfield and the controller's office for putting together that document for us which we've all received colleagues a represents that we don't cut wells fargo from underwriting our bonds and that is a significant service because as a result of taking away working with wells fargo we will see that the bonds bids might come

as a bad player bernie sanders talked about banks that are too big to fail the k if wells fargo has been deference at all levels to the state and look like time after time bailed out wells fargo wells fargo is bailing us not bailing us out but failing us miserably we should be creating sanctions against wells fargo they drautsd u defrauded customers and bankrupted families and city's in the wake we need a different approach in san francisco this resolution is about cutting ties with many of the services the city and county of san francisco receives from wells fargo and i do have some amendments here i'll be proposing here today, we got a report if the controller's office about where we have our closet ties to work and services from wells fargo we want to thank ben rosenfield and the controller's office for putting together that document for us which we've all received colleagues a represents that we don't cut wells fargo from underwriting our bonds and that is a significant service because as a result of taking away working with wells fargo we will see that the bonds bids might come

as a bad player bernie sanders talked about banks that are too big to fail the k if wells fargo has been deference at all levels to the state and look like time after time bailed out wells fargo wells fargo is bailing us not bailing us out but failing us miserably we should be creating sanctions against wells fargo they drautsd u defrauded customers and bankrupted families and city's in the wake we need a different approach in san francisco this resolution is about cutting ties with many of the services the city and county of san francisco receives from wells fargo and i do have some amendments here i'll be proposing here today, we got a report if the controller's office about where we have our closet ties to work and services from wells fargo we want to thank ben rosenfield and the controller's office for putting together that document for us which we've all received colleagues a represents that we don't cut wells fargo from underwriting our bonds and that is a significant service because as a result of taking away working with wells fargo we will see that the bonds bids might come

my name is brenda wright and i manage the community relations for wells fargo. and in that capacity i over see the economic development programs for for the west, and the wells fargo. so the members can actually have access to funding, if you look at the libraries that are now in some of the lower income communities in the bay view, hunter's point, and in the fillmore, and you will know that wells fargo was the largest corporate funder of this project. and throughout the bay view, and i mean, that there are just so many things that we can say, and that i would say that because of those 8,000 team members, and they devoted the hours and do this with the best interest at heart and thank you for hearing me. >> thank you. >> i have run wells fargo banking division, and the commitment to the california public sector remains steadfast, in the past year, as other banks have terminated, other cities and counties, wells fargo has continued to be committed and we have not resorted to levels. we provide the trustees for the bonds and overriding and banking services includi

my name is brenda wright and i manage the community relations for wells fargo. and in that capacity i over see the economic development programs for for the west, and the wells fargo. so the members can actually have access to funding, if you look at the libraries that are now in some of the lower income communities in the bay view, hunter's point, and in the fillmore, and you will know that wells fargo was the largest corporate funder of this project. and throughout the bay view, and i mean, that there are just so many things that we can say, and that i would say that because of those 8,000 team members, and they devoted the hours and do this with the best interest at heart and thank you for hearing me. >> thank you. >> i have run wells fargo banking division, and the commitment to the california public sector remains steadfast, in the past year, as other banks have terminated, other cities and counties, wells fargo has continued to be committed and we have not resorted to levels. we provide the trustees for the bonds and overriding and banking services includi

my name is brenda wright and i manage the community relations for wells fargo. and in that capacity i over see the economic development programs for for the west, and the wells fargo. so the members can actually have access to funding, if you look at the libraries that are now in some of the lower income communities in the bay view, hunter's point, and in the fillmore, and you will know that wells fargo was the largest corporate funder of this project. and throughout the bay view, and i mean, that there are just so many things that we can say, and that i would say that because of those 8,000 team members, and they devoted the hours and do this with the best interest at heart and thank you for hearing me. >> thank you. >> i have run wells fargo banking division, and the commitment to the california public sector remains steadfast, in the past year, as other banks have terminated, other cities and counties, wells fargo has continued to be committed and we have not resorted to levels. we provide the trustees for the bonds and overriding and banking services includi

. >>> new allegations tonight involving one of this country's biggest banks, wells fargo. you may recall back in september, federal regulators said wells fargo had set up millions of bank and credit card accounts that customers never requested. now new allegations are about life insurance policies that wells fargo offered in a partnership with prudential. we get more from goudy schwartz. >> reporter: it was the biggest case of fraud abuse in recent history. many wells fargo employees fired after a lawsuit alleged they signed up accounts for customers to meet new sales quotas. now this time aimed at prudential where internal investigators said they found >> they signed up people on accounts without their knowledge or consent. >> reporter: they found evidence that spanish-speaking customers or others may have been pushed in policies by wells fargo bankers, and when they took what they found to their prudential managers, those decided to go to wells fargo rather than their own customers. >> perhaps they could sweep is under the rug and not even report it or let it be known to

wells fargo releasing a statement saying, if we identify ask for, we will make it right. now more accounts under review. the lawyer for the whistle blower saying she will seek a class action lawsuit for consumers expected to be filed next week. nbc news, los angeles. >>> this is the last week to enroll for next year in another kind of insurance, obamacare, which has been targeted by president-elect donald trump. and now with so many questions about the future of the affordable care act, some patients wonder whether signing up for obamacare some perspective tonight from nbc's gabe gutierrez. >> reporter: following a cancer scare and a kidney infection, part-time teacher lisa ernstrom is a strong proponent for obamacare, especially for preexisting conditions. >> my premium isn't bad. i'm paying $180 a month. >> reporter: she plans to renew her policy this week, but president-elect trump takes office. >> it makes me nervous. >> reporter: trump has said he plans to repeal obamacare but plans to keep coverage for people with preexisting conditions. >> there is no reason to wor

democrats will continue to use wells fargo, use the example of wells fargo, to illustrate why they think more consumer other financial regulations are needed. it remains a question about whether or not this will be as elevated an issue as it would have been had democrats been in control of congress. dodd-frank, the trump administration, trump and advisors have indicated that they would like to see changes sort of where this fits in, where wells fargo sits in on that. certainly come up, whether or not you have additional hearings like what we saw with john stumpf remains to be seen. >> elizabeth deck timer, a reporter with bloomberg. you can find her reporting at bloomberg.com. thank you for joining us. you can find the hearings, both the house and senate going with wells fargo on our video library at c-span.org. joining us now to talk about the senate hearing on cable and satellite billing problems is the editor of a digital publishing company. tell us how this all began. how do we get to the point where senators were bringing cable executives before them to hear about problems on folks'

say i'm going to buy wells fargo. and i don't think they've looked beneath what they're buying to find out what the real problems are with generating secular growth in this company. i mean, i think when they figure that out, they might not be that happy with what they've purchased. >> so, it sounds like you're predicting a rather rocky, at least beginning of 2017 for the bank. >> well, not for the banks overall, but for wells fargo, definitely. >> but for wells, yeah. >> yes, yeah, i think that the outlook for the banks is probably the best that it's been in a decade and that there are a number of ways that they're going to benefit as a result of the supposed trump policies. i mean, if he's going to repatriotate $2 trillion worth of money, that's bank deposits. if he's going to stimulate economic growth through, you know, building bridges and tunnels, that's bank lending. if he's going to increase manufacturing activity using tariffs, again, that's bank lending. if we're looking at interest rates moving up ever so sli

as a bad player bernie sanders talked about banks that are too big to fail the k if wells fargo has been deference at all levels to the state and look like time after time bailed out wells fargo wells fargo is bailing us not bailing us out but failing us miserably we should be creating sanctions against wells fargo they drautsd u defrauded customers and bankrupted families and city's in the wake we need a different approach in san francisco this resolution is about cutting ties with many of the services the city and county of san francisco receives from wells fargo and i do have some amendments here i'll be proposing here today, we got a report if the controller's office about where we have our closet ties to work and services from wells fargo we want to thank ben rosenfield and the controller's office for putting together that document for us which we've all received colleagues a represents that we don't cut wells fargo from underwriting our bonds and that is a significant service because as a result of taking away working with wells fargo we will see that the bonds bids might come

. >>> still ahead tonight, the wells fargo scandal spreading. it's now forcing a fortune 500 company to stop what it's doing and state officials to step in. >>> harvesting lettuce under dead line. the building battle that's forcing this garden to go. >>> after hitting a low note, stanford's banned band decides to fates music and fight back. we'll tell you how. >>> and do you consider yourself an expert on emojis? - anwith the city on newbnb, common-sense home sharing rules. to help protect affordable housing, we've launched a one host, one home policy. so hosts may now only rent space at one address in san francisco. and we want to work together to improve the city's permit system so that it's simple, fair and effective. together, we can make the new rules work for all of san francisco. >>> we have a follow-up to a story we did a few months ago. the last commercial natural in san francisco called little city gardens was asked to vacate the land it was leasing. neighbors tried unsuccessfully to keep the farm there, but now the golden bridges scho

new trouble for wells fargo and air pods finally hit the market. jill wagner is at the new york stock exchange with that and more. good morning, jill. >> reporter: good morning. the federal reserve is expected to raise interest rates today when it wraps up its policy .eeting the fed kept interest rates low as a way to spur the economy after the financial crisis. on wall street, the markets open at record highs. the dow is just 89 points, shy it jumped 114 points yrday. the s&p gained 14, the nasdaq climbed 51 points. >>> federal regulators have hit wells fargo. with restrictions on its operations. it comes after wells fargo failed a living will exercise with which is its plan to reorganize if it fell into bankruptcy. the restriction prevent wells fargo from segment up any new international business. the exercise is designed to prevent a repeat of the 2008 financial crisis. and has nothing to do with t wells fargo sales scandal. >>> apple's wireless ear buds ipods are on sale. the original launch in october was delayed. apple was reportedly having a

wells fargo certainly fits in that bucket. now, whether they would get a reprieve from a fed overseen by trump appointees, that's an open question but fair question. scarlet: very quickly, jesse. we only have about 30 seconds left. what are the consequences in the near term if wells fargo does run out the clock? are there any? jesse: there's a few. there are more hurdles toward making acquisitions both internationally and domestically. wells fargo probably wasn't in much of an acquisition mode anyway considering some of the restrictions placed on them after the settlement over the bogus account scandal. it is a hurdle. joe: thanks very much. a very quick don't miss this because we have the fed decide special tomorrow starting at 1:00 p.m. eastern time in new york. of course, the fed announcement will be at 2:00 p.m. so huge day ahead for us covering the big event. scarlet: that does it for "what'd you miss?." thanks for watching. joe: have a great evening. this is bloomberg. >> you're watching bloomberg technology. let's start

linked to self-service kiosks at wells fargo branches and wells fargo credit cards. in some cases policies were opened and closed within a month or two and then reopened. three former internal investigators for prudential said that they were threatened with termination for trying to report the alleged fraud. >> that we were terminated because we were raising the red flags. they wanted to go to wells fargo first, perhaps they could just sweep it under the rug and not have to report it. >> prudential says the employees were not fired because of its business with wells fargo. in september wells fargo acknowledged its bankers created millions of frud and you lent accounts to meet their sales goals. >>> today aaron schock is expected to be arraigned this court. he resigned last eafter allegations of using government and campaign money for a of lavish lifestyle. guilty plea. they acknowledge bad bookkeeping, but no intent to steal from the government or misuse campaign funds. >>> this morning the white house could issue a new statement on a petition to commute chelsea mann

it. >> prudential says the employees were not fired because of its business with wells fargo. in september wells fargo acknowledged its bankers created millions of fraudulent accounts to meet their sales goals. >>> if you still have holiday shopping to do, get ready for a big day of online sales. today is green monday. the name was coined by ebay nearly a decade ago to describe its best sales day billion in sales coming in third to only black friday and cyber monday. that makes sense, we're about two weeks away. >> i have to hurry up, i have a bunch of shopping left to to. >> i'll be busy today. >>> as you spend your hard earned money shopping, don't forget you have to be extra careful. >> right, we talked to fairfax county police about the four things to know about shopping safety. if you're ordering bpackages, have then sent to work or a neighbor if you won't be home to sign for them or choose in-store pickup instead. at the mall you can don't overload your arms and keep your cellphone somewhere safe. make sure not to point it downward even for a second even once you leave t

caroline: maybe a bit of a me, too from wells fargo. david, you like the fact that etf's are catching on. david: i like to apply algorithmic approaches to tools that ordinary investors can get access to. these techniques have been confined historically to highest net worth individuals, the biggest institutions. this is a great way for ordinary people to invest in a much more sophisticated fashion. basically, it allows the software to assemble packages of stocks that wouldn't historically be assembled. selecting fors all of these variables and they can do things in real-time that is much more sophisticated. it is not just an etf of grocery store companies, it is an etf of companies that have gone up on certain conditions and down and in relation to something else. i think that is great. dani: i think that is compelling for these companies. a qr had a great report, taking some of the best investors over the years and they found you could break it down using algorithms. people who before could not have dreamed of having an investor like wa

his is well wells fargo is entering in. if you look at this chart here, not as re growing, but much as smart beta market as a whole. goldman sachs really has the here. that's going to be the biggest competition. into e hoping by getting this front, they can differentiate themselves from others out there. maybe a bit of me too coming from wells fargo. david, you like the fact that catching on, right? >> to apply algorithm approaches tools that ordinary investors can get access to. techniquethe kinds of that have been confined historically to the highest net worth individuals, the biggest and this is a great way for ordinary people to nvest in a much more sophisticated fashion, basically allowing the software to of stocks thates eally wouldn't historically be assembleable. the software is selecting for ifferent variables and do things in real time that is much more so fist indicated. that is a grocery store company, it has gone up in certain conditions and down in relation to ons in something else. i think that's a great thin

paul christopher with wells fargo investment institute. thanks again tonight. thanks. >>> on wall street, a rise in new home sales and an increase in consumer sentiment were not enough to give stocks a big lift. equities meandering all session ahead of the christmas holiday. the dow finished up about 15 points to 19,933. the nasdaq added 15, and the s&p 500 gained two. for the week there was a bit of holiday cheer for the three major indexes. >>> the obama administration has struck deals with both deutsche bank and with credit suisse over toxic securities. deutsche bank has agreed to pay more than $7 billion to settle with the justice department over its sales of risky mortgage-backed securities, which contributed to the financial crisis. separately, credit suisse has agreed to pay more than $5 billion to settle the probe into its sales of subprime mortgage bonds. >>> the justice department took the unusual step of suing barclays over its toxic mortgage-backed securities instead of settling. the government alleges that the bank fraudulently sold more than $30 b

prudential is now suspending insurance policy sales through wells-fargo. prudential says it surveyed wells fargo customers, but there were no indications of fraudulent sales activity. wells fargo says it is "deeply concerned about these allegations." an update this morning... after a person was arrested for threatening the wauwatosa police filed against that person - instead... a ticket will be issued instead. this stems from the jay anderson case. police say five threats of violence were made against the department last week. they came after it was announced that no charges will be filed against the officer who shot and killed anderson. anderson's family is now pushing for federal criminal civil rights charges against the officer. the man accused of drowning his infant son pleads guilty to first degree reckless homicide... the day his trial was set to begin. police say 25-year-old sean flowers waded holding the 3- month-old-- and when a witness tried to save him, flowers swam into even deeper water. his sentencing is scheduled for late january. police in

if wells fargo once to be part of the next generation of investing, this is something they will have to be in. frankly many are surprised that it has taken until this year, or the next three to six months to launch one of these products. >> they try to differentiate themselves. talk to us about the way in which they are trying to have a bit of -- here. >> these are quantitative-based etf's built around computer algorithms. you have smart beta that takes the idea of etf, but does not use market cap weighting. instead it selects the cheapest stocks. from there, you go to multi factor, which takes those things and puts them together. instead of using just one factor, they use a couple of these factors, so this is an idea whose time has come and this is where wells fargo is entering in. if you look at this chart, assets are growing, but not as much as smart beta market as a whole. goldman sachs has the lead here, competition, but they are hoping by getting into this front they can differentiate themselves from what is already out there. >> maybe a bit of a me-too coming from wells fargo.

these are calls where you personally made your pitch to investors and analysts about why wells fargo is a great investment, and in all 12 of these calls, you personally cited wells fargo's success at cross-selling retail accounts as one of the main reasons to buy them a more stock in the company. announcer: wednesday, notable house and senate hearings of crisis,the flint water epipen price increase, wells fargo unauthorized accounts, and cable and satellite billing problems. that is at 8:00 p.m. eastern here on c-span. new year's night on "q&a" -- >> while people were starving, van buren was having fancy parties in the white house. ,t was part of the image making harrison was the candidate for the poor people and here was the rich man sneering at the poor people. harrison had thousands of acres, so he was actually a very wealthy man, but he was portrayed as the champion of the poor. women came to the parades and waved handkerchiefs, some gave speeches, some wrote pamphlets. it was very shocking. they were criticized by the democrats, who said these women should be homemaking putting.

. >>> wells fargo's phony account scandal seems to be widening to include life insurance. workers at wells fargo signed up customers with insurance from prudential without their knowledge. three employees at prudential say they were punished for not helping with a cover up. >>> for its part, wells fargo says in a statement that it is, quote, deeply concerned about these allegations as they are completely counter to our values. >>> the california insurance commissioner now launching a new investigation of wells fargo. >>> the ski season at tahoe taking a deadly turn this weekend. two people were killed in separate incidents. a 35 year old ski instructor was killed yesterday in north star. he tied after hitting several rocks and crashing into a creek. a 64 year old man was killed in an avalanche near mount rose. officials say he was skiing in an area that has been closed off. >>> only two out of every 5 people have gotten the flu vaccine this year. but it's not too late to get protected before flu season peaks. doctors say if you get the vaccine you may not get as sick if yo

-- where wells fargo is entering in. assets are growing, but not as much as smart data market as a whole. goldman sachs has the lead here, and that will be their biggest competition, but they are hoping by getting into this front they can differentiate themselves from what is already out there. david, you like the fact that etf's are catching on, right? applyt i like is that to algorithmic approaches to tools ordinary investors can get access to, because these are the techniques confined historically to the highest net worth individuals, the biggest institutions, and this is a great way for ordinary people to invest in a much more sophisticated fashion, basically allowing the software to assemble packages of stocks that would not historically be assembled because with the software selecting from all these different variables, it can do things in real time that are much more sophisticated, so it's not just an etf of grocery store companies, but companies that have gone up and down in othern conditions and relations, and i

now, it's in this view of sim arex that goldman and wells fargo really differ. while the bears at wells fargo acknowledge the company has some excellent assets and terrific execution, they don't like the stock's valuation. they think it's too expensive. sim arex valuation, quote, appears more fulsome than mid cap peers, end quote, and while they believe it does deserve a premiere, they say agasee, quot, less incremental running room for the shares. goldman says the potential is underappreciated. they expect the company to spend a lot more on drilling next year, $1.2 billion in total, 39% more than the consensus view, which will allow sim arex to dramatically grow its production, and that's what we want in an oil stock. goldman expects sim arex to raise its production forecast when the company announces its follow 2017 guidance in the first quarter of next year. in short, she see this catalyst-rich story with a lot more room to run. where do i come out? i adore sim arex's acreage, and i agree they have one of the best technical teams in the industry. if anybody c

protesters held up a sign that read "wells fargo funds genocide," gihat the bank playa the controversial pipeline project. at one point, protesters hooked arms to prevent ?we employees from using the elevators.some workers had to force their way through the protestersbefo police showed up. a community outside of ned thld studenrandomly pricked more than a dozen of a need. the stent struck at leas17 classmates. some of the students reported they were struck more local news now--new police recrui will on bso sworin to protect ane.d serv milwaukee police department is holding a swearing-in ceremony on monday at the lice academy.??l58-recruits will rgo desix monthsf training and are scheduled to graduate governor scott walker is looking to provide reliable broadband internet to rural areas. he's asking the state th allocates about 35 llion dotohelpis cause.some of thmoney would go to the "teach program" which allows rural schoools to upgrade their still ahead - we'll get a look at the markets this and -- holiday events where you and your family can t weekend to check out some john, we're giv

wells fargo, the city and county of san francisco is no longer going to refer people to wells fargo but all those accounts are still good and if you have an account at wells fargo through this program which is a low-cost account for low-income people you can keep the account and move the account. the city doesn't care, it's fine. they are just no longer going to refer people to wells fargo. >>> got it the. >> cheryl's got a question saying i own my home and get medical and i think of getting a reverse mortgage when i'm 62 in two years. will i be table do that mowing that there's a medical thing hon house? >> assuming it's not attached to the house, can you add madecal and that does not hurt when you you go to get a reverse mortgage. here's what will hurt you. if you owe a medical bill and you haven't paid that and they have attached that to the house. you'll have to wipe that out. i don't know of anyone that will actually give you a reverse mortgage if you have that hanging on there so if you have that you'll need to take care of it. i want to hear from you. the 7 on your side hotline i

and wells fargo admitted guilt. they issued an apology. and wells fargo if you'll notice is running tv commercials that include a veiled apology and a vow to do much better and operate honestly from now on. part of donald trump's make america great plan is to repeal dodd/frank and allow banks like wells fargo to then get away with the kind of stuff the consumer financial protection bureau caught them doing and fined them for doing. for more of what you can expect as consumers in a world without dodd/frank, we are now joined by the man who cowrote dodd/frank, former massachusetts congressman barney frank. congressman frank, thank you very much for joining us tonight. i really appreciate it. your read on where we are on the repeal. i notice that donald trump's selection for treasury secretary is saying they want to repeal parts of dodd/frank, which is a little bit better than the way donald trump talks about it. >> well, let me in times, mr. mnuchin, the aforementioned appointee, mr. trump has an ally whose nomination is expected to be well