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September 2017 - page 3

Wells Fargo Malfeasance Too Big To Ignore, For Wall Street Water-Carrying Committee Chair

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The true depth of Wells Fargo’s accounts falsification scandal is forcing a top lawmaker and friend of the industry to be on alert. Sen. Mike Crapo (R-Idaho) last week declined a New York Times request to comment on revelations about millions more unauthorized sales by Wells. But the Senate Banking Committee Chair promised on Thursday that he is looking into the matter, when prodded by Elizabeth Warren (D-Mass.). “I will keep you informed as I learn more and, as I said, your request is under…

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DEA Sex and Abuse Scandal Exposes Flaws in Accountability Structure, Watchdog Finds

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An agent with the Drug Enforcement Administration (DEA) was busted for giving his mistress access to an evidence room and investigatory wiretaps, but the agency’s highest rungs of leadership intervened on his behalf and allowed him to temporarily keep his job and security clearance. The Department of Justice Office of Inspector General (OIG) investigated the wrongdoing to determine if then-DEA Administrator Michele Leonhart inappropriately mediated to protect the agent, and if she then lied to Congress about her role in security clearance reviews. The watchdog didn’t…

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Driverless Cars Legislation Passes with Few Concerns for Mass Labor Displacement

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A bill that would open US roadways to hundreds of thousands of automated vehicles over the next half decade passed the House of Representatives on Tuesday. Almost entirely absent from consideration were the hundreds of thousands of human drivers who stand to be replaced by the burgeoning robotic fleet. Lawmakers unanimously approved of the Self Drive Act, which exempts driverless car manufacturers from certain safety regulations–like requirements forcing vehicles to have steering wheels and pedals. The bill also permits car makers to deploy 25,000 driverless…

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Fed Number Two, Critic of G.O.P. Hands-Off Approach Amid Stock Market Frenzy, to Step Down

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A top banking regulator who recently warned about the danger of Republican reform proposals and “a notable uptick in risk appetites” is stepping down. Federal Reserve Vice Chair Stanley Fischer wrote to President Trump on Wednesday, announcing his resignation “effective on or around October 13.” In his letter, released the same day by the central bank, Fisher said he was motivated to quit by “personal reasons.” “During my time on the Board [of Governors], the economy has continued to strengthen, providing millions of additional jobs…

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Sessions Announces Imminent End of DACA, Makes Dubious Claims About Child Refugees

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As expected, the Trump administration announced that it is planning on revoking the status of DREAMers—undocumented residents of the US who immigrated as children, more than a decade ago. Attorney General Jeff Sessions unveiled the decision at a press conference on Tuesday morning, stripping roughly 800,000 people of temporary protection from deportation granted by the Obama administration in 2012. Sessions noted that there would be a “wind down” period, which was previously reported as lasting a half-year. “This will enable [the Department of Homeland Security]…

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EPA Neglect of Houston During Harvey Came After Pruitt Exerted Direct Control Over Major Superfund Sites

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At least 13 environmental cleanup sites in Houston were damaged by Hurricane Harvey, creating the potential for a release of toxic waste into floodwaters, but the Environmental Protection Agency (EPA) has yet to dispatch teams to fully survey the damage. In a statement over the weekend, the EPA said that 11 of the 13 flooded locations—known as Superfund sites—were “inaccessible for response teams.” The agency instead was relying on aerial imaging to survey the damage. The Associated Press, however, reported that its journalists have been…

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