Aug 13, 2018

In the wake of the Wells Fargo scandal, L.A. seeks more bank transparency

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(Markets Edition) The fall of the Turkish lira continues. The currency dropped another 7 percent today, bringing its total fall of value to about 40 percent for the month. This led the Turkish president to denounce those he called economic “traitors,” and we have an economist to talk to us about what happens next. Also, President Trump is expected to sign a $716 billion defense authorization bill, which will add thousands of personnel and even more debt to the federal budget. And, with the impact of the 2016 Wells Fargo “fake account” scandal still being felt, Los Angeles has passed an ordinance that states that any bank doing business with the city has to share its sales goals. We take a further look at that bill. Today's show is sponsored by Avast (avast.com), Indeed (Indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com) (08/13/2018)

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Los Angeles demands more accountability from its banks

Aug 13, 2018
Last month , LA took on predatory and high-pressure sales goals at major banks by tightening its responsible banking ordinance. Now, if a bank wants the city’s $17 million taxpayer-funded contracts, it must be transparent about sales goal tactics and employee compensation, and it can’t retaliate against whistleblowers who report suspected illegal bank activity. Bank reform advocates […]
A Wells Fargo sign is seen on the exterior of one of their bank branches on September 9, 2016 in Miami, Florida. 
Joe Raedle/Getty Images

(Markets Edition) The fall of the Turkish lira continues. The currency dropped another 7 percent today, bringing its total fall of value to about 40 percent for the month. This led the Turkish president to denounce those he called economic “traitors,” and we have an economist to talk to us about what happens next. Also, President Trump is expected to sign a $716 billion defense authorization bill, which will add thousands of personnel and even more debt to the federal budget. And, with the impact of the 2016 Wells Fargo “fake account” scandal still being felt, Los Angeles has passed an ordinance that states that any bank doing business with the city has to share its sales goals. We take a further look at that bill. Today’s show is sponsored by Avast (avast.com), Indeed (Indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com) (08/13/2018)

The team

Stephen Ryan Producer, BBC