of wells fargo's chief executive wells fargo said quote we're looking across our entire company to identify and fix problems be transparent and open about what we find and make things right in addition it said it is making changes across our risk management functions and line of business operations to rebuild the trust of our customers and team members according to media reports wells fargo fired franklin codell the head of consumer lending who is being blamed for questionable practices while the auto lending and mortgages the company is looking to replace him by the end of the year and the company is looking to reshape its board to as shareholders criticize the board for its the latest string of scandals and misconduct the company is looking to add three new independent directors by january first this will be an addition to the six new board members the company added this year. wells fargo has had to pay more than a few times this year as we know but in this situation what sort of consequences specifically are they facing yet so right now the enforcement action that's being weighed against

guest: wells fargo, i'm glad he started with wells fargo. that is a perfect example of reality versus what people read in the news. in fact, wells fargo was the perfect case of what the cfpb should have been doing. there is no better -- if you could pick one thing the agency was designed to do, it was supposed to stop wells fargo. at least the fraud that ended up coming out. what happened was two years they were doing on-site examinations. they did not find those problems at all. then in december of 2013, the l.a. times broke the huge story detailing all the things that were going on. you think at that point they would jump in and get involved, but as a came out the comptroller of the currency and the los angeles city attorney investigated for over two years. the cfpb stepped back and let the other two agencies do all the work. they barely did any investigations at all. but because the law is so much 'spb of the's side --cfpb side, they came in at the last minute when the other agencies had finished their investigations and the cfpb imposed

wells fargo has had to pay up more than a few times this year as we know but in this situation what sort of consequences specifically are they facing yet so right now the enforcement action that's being weighed against wells fargo is a cease and desist order and it's all. mill of generosity going does this because it helps people is just it's one of the side effects is that it comes this applies more blubbering for they put their money on your car immediately after you get done half of all plasma based drugs today come from private companies and are produced from paid plans much smaller compromise you know a motor car will give you one of the risks of pay donation which you need to then is proof that the frequency of pathologies is much higher in pay donations and many say though if i was lying when i say it's moves over two years old he will go in the money using the drug and who runs the blood business. hey everybody i'm stephen baldwin gushingly task hollywood guy you know suspects every proud american first of all i'm just george bush in our view to say this is my buddy max famous fi

san francisco's baseball's fargo's -- san francisco's wells fargo. sources tell the paper that four foreign-exchange makers have been fired and a formal federal investigation is underway. wells fargo said that they have fundamental inaccuracies and is misleading and unfair. >> a fire relief concert is planned for the victims of the northbay fire last month. this is november 9, metallica was a headliner and that concert raise $70 million for fire relief. band together 2 is set for december 14. the red hot chili peppers are scheduled to headline the event with lucas nelson. 100% of ticket sales will be donated to the tipping point emergency relief fund. tickets go on sale at 10 am on friday and they cost $99. and plus there are fees. >>> temperatures today just like yesterday, and they will

i was disturbed by what happened with wells fargo, what i felt that wells fargo was doing to their customers and i don't know that you saw the c.e.o. came before the house financial services committee and i want to know cfpb gets credit for fining wells fargo but why did they miss it? what was happening here? we have elizabeth warren's dream of what an agency of -- is supposed to be and not to be worried about politicians and get free money from the federal reserve and been given every single tool necessary. i think from the outside looking in. maybe i will find out something different when i am briefed. but every single tool necessary to either prevent that from fargo andat wells they did none of those things. can you regularly regulate out bad behavior? i don't think you can. are we going to fulfill a important role? to make sure we are looking over the shoulder of folks were trying to take advantage of consumers, absolutely. we are going to continue in that function. at the same time, to think that the cfpb is going to prevent the next financial crisis is a little naive if they couldn't p

i was disturbed by what happened with wells fargo, what i felt wells fargo was doing to their customers. i don't know if you saw when the ceo of the company came before the house financial services committee a year or so ago i was on. i want to know is, cfpb gets a lot of credit for fining wells fargo. my question, why did they miss it? what was happening here? so here we have elizabeth warren's dream of what agency is supposed to be, independence, ability to go anywhere, do anything, not worry about politicians. get free money from the federal reserve. don't have to worry about appropriations. they are given every single tool necessary i think, from outside looking in, maybe i find out something different tomorrow when i'm briefed on it, every tool necessary to prevent that from happening at wells fargo or discovering its. they did neither of those two things. the question becomes, can you really regulate out bad behavior. i don't think you probably can. are we going to fill an important role to make sure we're looking over the shoulder of folks taking advantage of consumers? absolutel

i was disturbed by what happened with wells fargo, what wells fargo stick to their customers. i do not know if you saw the ceo of the committee came before the house financial service committee that i was on. i want to know, they get a lot of credit for finding wells fargo. my question, why did they miss a? what was happening here. here we have elizabeth warren's dream of what an agency is supposed to be in their ability to independently go anywhere and do anything and not have to be worried all politicians. they get free money from the federal reserve. they do not have to worry about appropriations. debbie given every single tool necessary i think from the outside looking in. maybe i'll find out something different tomorrow when i briefed on it. every single tool necessary to either prevent that from happening at wells fargo or lease discovering appeared they did neither of those things. the question, can you really regulate bad behavior can make i do not think you probably can't. we will fill an important role to make sure we are all looking over the shoulder of folks are tr

i was disturbed by what happened with wells fargo, wells fargo was doing to their customers.now if you saw when the ceo of the company came before the house financial services committee a year ago. why want to know is, cfpb gets a lot of credit for finding wells fargo. why did they miss it? what was happening here? and here we have elizabeth warren's dream of what an agency is supposed to do and that ability and independence to go anywhere and do anything and not have to worry about politicians. they get free money from the federal reserve. they don't have to worry about appropriations. they are given every single tool necessary from the outside looking in, i think. maybe i will find out something different. every single tool necessary to prevent that from happening at wells fargo or at least discovering it, and they did neither. so the question becomes, can you really regulate at-bat behavior? i don't think you probably can. are we going to fill an important role to make sure we are looking over the shoulder of folks try to take advantage of consumers? absolutely.we are goin

live at the wells fargo center.la brown james is in town by it's what he said about carson wentz that is making news. stay tuned for that. sorry. i can't make it. it's just my eczema again, but it's fine. yeah, it's fine. you ok? eczema. it's fine. hey! hi! aren't you hot? eczema again? it's fine. i saw something the other day. eczema exposed. your eczema could be something called atopic dermatitis, which can be caused by inflammation under your skin. maybe you should ask your doctor? go to eczemaexposed.com to learn more. >>> xfinity will change the way you experience tv. >> hey, everybody, i'm john clark. we're at the wells fargo center. lebron james and the cavs are in town but this morning lebron james was talking with reporters about his favorite nfl player. listen to the king. he's on the wentz wagon. >> my favorite player right now is carson wentz. i told my brother that earlier in the season that i just love the way he plays the game. the way that he's able to drop it and then run outside the pockets to make

so we already learned about that and also that is a small part of wells fargo's business disclosure is question here for the executive management team given that they said in the past that all things seem to be behind them and it seems more issue start popping up we've reached out to the company for further comment. >>> we're starting to get new details on softbank's investment in uber. let's get to arjun kharpal in london with more on that story good morning, arjun. >>> good morning here's what we know. softbank is targeting a 14% to 20% stake in uber, but they want to buy those shares at a $48 billion valuation. that's a 30% discount to uber's current market valuation, which is around 6$68 billion. softbank also wants to invest a fresh $1 billion into uber to give more money for expansion. there has been scandal after scanndal at uber, banned in certain markets, and now the latest revelation that they suffered a cyberattack in 2016 the question is who is going to sell their shares at this discount the likelihood is this is the early investors, venture capitalists who got in at the ea

scandal was also tied to employee compensation, boy, the bonuses must have just been amazing at wells fargoight? >> i mean, all across the income spectrum there. >> well, it's less of a bonus-driven bank overall than some of the investment banks purely but i think this is -- that's the takeaway from the story in terms of what we can confirm, versus what's been reported and denied by wells fargo today, was this was another part of the bank where bonuses were heavily reliant just on revenue generation, not broader considerations that's changing. that questions whether the earnings for the bank can change clearly today, well fargo is up with all the banks and i add to not just the fact you're sieein the deregulatory comments from jay powell they disproportionately pay a higher tax as well the tax reform developments today also boosting the seconder. >> good point, thank you very much >> thank you. >>> time for a cnbc news update. let's turn to sue herera. >> here's what's happening at this hour. secretary of stateoffended by t growing number of critical reports of his leadership some of which

a new disturbing report concerning bankers at wells fargo. tracee: this is another scandal that seems to keep going. wells fargo bankers charged hundreds of clients hire foreign transactions in order to get their bonuses according to a journal report this comes over a year since wells fargo page $185 million fine for widespread illegal sales practices involving fees on 2 million deposit and credit card account opened without customers knowledge. an internal wells fargo breached showed only 35 business claims out of 300 were charged in actual price they had been quoted by wells fargo bankers for their current traits to employees told to "the wall street journal." cheryl: allowed to watch today. thank you, tracee. a lot more we are watching right now. lauren: the volcano in indonesia in bali for a second day now. look at that. tens of thousands of tourists back at the airport as they watch this volcanic ash which poses a dangerous threat to airplanes. officials are telling about 100,000 people who live on the island to leave their homes if they

the department of justice said wells fargo agreed to pay for the illegal seizures. the law requires banks to get a court order before they repossess a car from members of the military. the justice department previously charged wells fargo in september of 2016 with the illegally seeing more than 400 cars owned by military members. wells fargo also has agreed to repair the credit of the service members and pay each ten thousand dollars, plus any lost equit, why in y in the vehicle with interest. >>> a local frozen food product play be contaminateds. the recall. really? really? really? really? really? really? see zero in a whole new way. get zero down, zero deposit, zero first month's payment, and zero due at signing on select volkswagen models. now with the people first warranty. . >>> welcome back. it's the start of the commercial crab fishing season. crab boats left the docks at six last night. they were allowed to -- they are not allowed to pull in their traps until six this morning. crabbers say there should be plenty of fresh crab in time for thanksgiving. that i

. >> teller machine lease between wells fargo bank, and the city for a five-year term with a two-year option to extend and minimum annual guarantee of $475,000 for the first year of the lease. >> president breed: supervisor kim? >> supervisor kim: thank you, i realize that wells fargo was the sole bidder for the lease agreement, however, i have a number of concerns about wells fargo and their current business in san francisco, given the gross violations they've conducted upon their customers over the last year and a half. and second, given the small amount of revenue that this lease would even bring forward to the city at $475,000, i think the airport should have considered some of our federal credit union banks or other banks here locally in san francisco and consider that a cost to the city's budget as a way for us to support some of our local banks that are investing responsibly in our communities and neighborhoods and also not fleecing their customers, so i will be voting no on this agreement. >> president breed: thank you. supervisor fewer? >> supervisor fewer: i concur with supe

there's a problem problem a wells fargo, jon hilsenrath. >> it does look like a problem not wells fargo comes after all the disclosure of the phony accounts. so the foreign exchange rate isn't a big business for wells, but you have to ask why they are doing this against customers backs. maria: yeah, looks like it was because of bonuses, but hard to make that claim. we will see about that. we'll be watching. soft pink sweet deal. soft pink reportedly ready to make an offer, but they will do it at a steep discount of the ridesharing company's most recent $69 billion valuation. we've got the details. arrested for brawling. the chain grabbing site that have been on the field during the broncos raiders game. we'll be right here. the ♪ ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin. and i take trulicity once a week to activate my body to release it, like it's supposed to. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. the pen where you don't have to see or handle a needle. and it works 24/7. trulicity is a once-weekly injectable

>> and in the case of wells fargo, they imposed a record fine, a record fine against wells fargo. we just had the equifax breach. you need the consumer bureau exactly for those reasons. who's standing up? you need this consumer bureau. and listen, the public has no doubts. we do an annual poll, and voters of all parties overwhelmingly support the consumer protection agency and the specific rules that it has put in place and proposed. so the public is clear on this. they need and they want these protections, and that's why this administration is trying to do this undercover back door procedure rather than going through normal order. this could all be resolved quickly. the administration simply needs to nominate someone, have them vetted, and have them go through the confirmation progress and let people vote on the record whether or not they want to destroy the consumer bureau rather than have it done through this back door. >> why would that not work in your opinion, or is that the way to go? >> one of the problems with this agency is it's one of the strangest agencies ever created

it's taking awhile to roll out. >> what does wells fargo say about this piece?he characterizations that we have from our reporting and internal bank documents. you know, they say that the ranges we are putting out there, they fit within them. we say they charged clients sometimes 1% to 4% of a fee. and again this is moving millions or sometimes billions of dollars. >> are any of the clients suing them? >> we don't know yet. but we named several clients in the piece. they lost a bunch of clients from this. they refunded others hundreds of thousands of dollars. >> thank you for your great reporting on this. emily glazer from "the wall street journal." >>> stand by, everybody. president trump's pocahontas comment at the white house isn't the first tomb he's been accused of insulting native americans. we'll break that down next. >>> but before we go, guess what it's time for. our favorite part of the show. monumental americans where we spot people who may be deserving of a statue of their own. today we are honoring the first native american woman to become a doctor

found wells fargo did not do that before seizing more than 800 cars.ed to pay $5.4 million, will repair the credit of the military members. 570,000 customers, charged them for car insurance they didn't need. some cases they already had car insurance, wells fargo just slapped them with more car insurance. papa johns trying to repair the damage caused by controversial comments about the nfl. papa johns has been an nfl sponsor since 2010 and two weeks ago the ceo blamed the nfl pan them protests for hurting sells claiming the controversy was polarizing papa john customers. that prompted an immediate backlash. now papa johns is apologizing for its divisive statements saying it supports the players movement to create a new platform for change but also believes that americans should honor our anthem. wants to have its piece and pie and have it, too. >>> "early start" continues right now with what the republicans plan to do on tax reform. ♪ >> yeah, we're optimistic that inserting the individual mandate repeal would be helpful. >> a major play by republicans

wells fargo auto lending division no stranger to legal troubles.s 570,000 customers for car insurance they didn't even need. papa johns trying to repair the damage caused by controversial comments about the nfl. papa johns has been an nfl sponsor since 2010. two weeks ago, the ceo blamed the national anthem controversy, the anthem protests, for hurting pizza sales. claiming the controversy was polarizing their customers. that prompted immediate backlash, so now papa johns is apologizing for its divisive statements. papa johns says it supports, quote, the player's movement to create a new platform for change, but also believes that americans, quote, should honor our anthem. do you think that pizza sales were hurt by the nfl controversy? >> i never really understood the argument, but are they still saying that those protests hurt their sales? it doesn't sound like they're backtracking away from that financial claim. >> it sound to me like they're trying to have therapy sa and eat it too. >> yes, it does sound like that. >> that was a terrible pun and

times" fleshed out the wells fargo overcharging and booking extra accounts, fake accounts for customers. this is, i think, is such a picture-perfect example, karl, of the administrative state. what would have stopped another leandrea english from a different person from filing suit to keep the bureaucratic job? >> well, i don't mean to correct you, it's worse than you describe. it's not housed at federal reserve. it has its own brand new taj mahal, the most expensive government building. liz: i'm going to -- it answers to the federal reserve. >> no, it doesn't answer to the federal reserve. every year it tells the federal reserve how much money it wants to have to spend. that's the only involvement it has with the federal reserve. automatic draw on the pool of money controlled by the federal reserve. it doesn't answer to anybody at federal reserve. if they say we want x dollars, the federal reserve has to give x dollars and can't refuse them. liz: two bosses showed up and looks like this is a victory right now for the trump administration, right? >> well, absolutely. look, the legal cou

and wells fargo brightened this veterans day for two purple heart recipients. one has a new car, the other received a home of his own. neither will have to make payments. since 2012, wells fargo has donated homes to 350 families. >>> "abc7 news" was there as the san francisco public utilities commission teamed up with poter to create humming bird fail. the goal is to make for for underserved communities. >> so we're hoping this will benefit not just the district, but the surrounding communities and provid healthier food for all of those neighborhoods in the area. >> quite an effort. that farm is expected to provide more than 1,000 pounds of organic fruits and vegetables to the community each season. >>> they are united by a love of vinyl. >> we'll take you to the largest record fair in san francisco and find out where music you can pick up and hold is still relevant today. >> the niners are finally relevant and off the schneid as they get the first win of the >>> a new high-end car with a devilish name is causing controversy tonight. this is company video of th

several other community and military groups also took part in this year's festivities, and wells fargo brightened this veteran's day weekend for two purple heart recipients. one of them now has a new car. the other received a home of his own. neither man will have to make any payments, since 2012, wells fargo has donated homes to more than 350 vets. >>> one marine celebrated a remarkable goal this veteran's day. the double amputee completed the last of 31 marathons in 31 days. a marathon a day for a month. he ran his 17th in san francisco in october. so far he's raised more than $125,000 for wounded warriors. he lost his legs in 2010, but that has not slowed him down. >> i went to afghanistan. had a traumatic experience. came back minus two legs but was still able to find my new way that i was going to contribute to my country and my society and keep fighting for my brother veterans. >> well, since his injuries, won a bronze medal in the paralympics and has biked across the country. >> he is remarkable. >>> healthy eating made easier. >> you don't have to be a foodie to appreciate this

>> it provides 1 -- wells fargo has a generation match tomorrow so for giving tuesday, every one dollaronated, wells fargo is going to match $2 to one dollar. >> today is cyber monday and people are shopping so tomorrow we're going to be giving. thank you very much and congrats on this big donation. >> i appreciate it. >> a lot of people -- you can donate at whole food's market and go to cbssf.com/give. >>> check your netflix bill. the christmas present you wish you could return. >>> e mail us pets@kpix.com and we'll have our pet expert give you an answer every friday at noon. we'll be right back. amazon founder jeff bezos is now worth a whopping 100-billion dollars. >>> all right. welcome back. the dow is up 30 points. >>> amazon founder bezos is worth $1 billion. he passed the 12-digit milestona rise in amazon stock. a climb shows online shopping for thanksgiving and black friday jumped 18% over last year. it is believed bill gates, the cofounder of microsoft is the only other person to reach $1 billion. >>> a price hike -- unfortunately for describers -- user who pay on the 25th of t

restaurateurs andy puzder thank you for joining us reaction to the failure to investigate wells fargog? >> well, i think it is a problem with all of these dodd-frank agencies it doesn't do what it is supposed to do regulate large banks try and prevent financial problems in fact, the fines wells fargo paid total for all agencies totaled 185 million in, a quarter where they made 5.6 billion so not really a very big punishment, what dodd-frank does with this agency does they hurt the small banks the community banks, i got to believe if a small bank did what wells fargo did they would be out of business now, so it, it the law is defective mulvaney right too much power unregulated not responsible to any other branch of government as it should be, hope the courts would strict down i think this is the agency for disaster i am not surprised by the result. >> dagen mcdowell to quote the great maria bartiromo the reason the economy is firing the way that it is, and growing north of 3% because of rollback in regulations. because the stranglehold on business is over. according to this administrat

the department of justice says wells fargo will pay $5 million for the illegal vehicle seizures.ks are required to get a court order before repossessing a car from members of the military. the justice department previously charged wells fargo with illegally seeing more than 400 cars owned by service members. wells fargo will repair the credit of the service members and pay each $10,000 and lost equity in the vehicle with interest. >>> more lawsuits filed against pg&e in connection with the north bay wildfires. lawyers representing people who lost homes claim the disaster was caused by power lines touching trees and brush. the lawyers say they went through call records of the weekend when the fire started and found power outages were reported in the area of the tubbs fire in sonoma county. >> there were many calls and witness reports talking about equipment problems. transformer explosions, transformer fires, downed power lines, severed utility poles, arcing power lines and flames in trees. >> now, cal fire has not announced an official cause for any of the fires but the lawyers s

several other community and military groups also took part in this year's festivities, and wells fargo brightened this veteran's day weekend for two purple heart recipients. one of them now has a new car. the other received a home of his own. neither man will have to make any payments, since 2012, wells fargo has donated homes to more than 350 vets. >>> one celebrated a remarkable goal this veteran's day. the double amputee completed the last of 31 marathons in 31 days. a marathon a day for a month. he ran his 17th in san francisco in october. so far he's raised more than $125,000 for wounded warriors. he lost his legs in 2010, but that has not slowed him down. >> i went to afghanistan. had a traumatic experience. came back minus two legs but was still able to find my new way that i was going to contribute to my country and my society and keep fighting for my brother veterans. >> well, since his injuries, won a bronze medal in the paralympics and has biked across the country. >> he is remarkable. >>> healthy eating made easier. >> you don't have to be a foodie to appreciate this. we sh

he said you know the wells fargo situation? how did they miss that? they are not protecting, they are not a protective entity where they are stopping thing from happening that are bad for consumers. basically they did sort of the cleanup after the reporter broke the story on wells fargo. should there be called the consumer protection agency at all? >> they really shouldn't, and you are right, it was the "los angeles times" who was the one who became the watchdog. all the board did, the consumer board, they just got the money, but it wasn't for consumers who got the money that wells fargo coughed up. that's why it's nonsense. big picture here is that the purpose of anything in government is to make sure there are checks and balances. this has no checks and balances. it's an administrative and regulatory body that has run amok and i just can't believe that the people in that agency didn't understand that, to quote president obama, elections have consequences. this is a consequence of a different president who believes that you shouldn't let government a

wells fargo must now pay $5.4 million on top of the original settlement from back in 2016. the bank must also repair the service members' credit and pay each $10,000, plus lost equity plus interest. alison: meanwhile the latest and the rncy moore, with the embattled senate candidate. the alabama republican is accused of sexual misconduct involving several women when they were in their teens and he was in his 30's. servicetended a church tonight where the pastor said he is a man who will "stand the test of time." moore maintains his innocence and says he will not drop out. voters head to the polls december 12. jonathan: attorney general jeff sessions says he has no reason accusers.oy moore's he also denied misleading congress about trump campaign contacts with russia. >> either you are lying to the senate or line to the u.s. house of representatives. >> my answer to that question i did not meet with the russians was explicitly responding to the shocking suggestion that i is a surrogate-- i as a was meeting with russian jonathan: he said that facts, not president trump, will

. >>> a new report says wells fargo could face fines and other sanctions over questionable practices in two of its departments. the "wall street journal" has said it could face sanction for failing. they charged for auto insurance they didn't need as well as charging improper fees on some mortgage borrowers. wells fargo is refusing to comment. >> the city of antioch is trying to get law enforcement officers from other agencies to join its police department. yesterday the city council agreed to pay signing bonuses it lures from other agencies. each new officer would be paid about $23,000. they are facing stiff competition from other cities in its effort to hire more officers. some chinatown visit lovers receive support because of construction delays from the central subway project. the biggest delay has been the loss of parking spots taets up by the construction. yesterday they said they are going to release it is said to open in 2019, one year later than planned. >>> the students call it cruel and petty. the protest over taxes that some say will make graduate programs are unaffordabl

you do remember wells fargo? the company that boosted its profits by opening fake accounts for its customers? another big group that's going to walk away with a huge amount of america's money is going to be foreign investors, who are estimated to get about $700 billion under this deal. wealthy foreign investors. third big group, multi-national corporations who will have incentives under this tax plan to boost their profits by investing and building jobs everywhere outside america. that's the heart of where this plan starts, and what this plan is all about. when the republicans describe the biggest tax change in, you know, years and years, they're right. because this is the one that says, we're going to pay off all of the republican donors. we're going to give industry what it wants, and here it all is, and it starts with a $2 trillion giveaway. >> let me ask you this, because there had been bipartisan agreement over the last three, four years, that the corporate tax rate had to be lowered. do you agree? are you i

prospective home buyers can apply for the grant at a wells fargo event that starts at 10:00 a.m. at the oakland city center marriott. >>>california may be limiting the liability of self-driving car makers. state regulators are embracing a proposal that would help makers of autonomous vehicles avoid paying for crashes. if approved, it would protect automakers from lawsuits when vehicles have not been maintained. the dmv has not commented on the proposed regulations. >>>san francisco's historic pier 70 is getting a major transformation. the project was approved yesterday. pier 70 is just south of the bay bridge. they'll be turning the mostly abandoned shipyard into a complex with thousands of new housing units as well as retail, art, and production space. it also calls for parks and playgrounds out there as well. it's expected to take more than a decade to finish all this. the construction begins in february. >>>the number of people diagnosed with legionnaires disease after visiting anaheim or disneyland has increased. fifteen people have been diagnosed ranging in age from 52 to 94

as wells fargo put it in their market association, quote, we view ollie's model highly -- it's one ofew remaining chains in the close-out business and stores offering a compelling difference in our view 70% less than target stores and 50% blow mass per chants end quote. when the company became public a littleless than 2 -- little less than two years ago they -- they have over 240 stores today so a lot of room here. third, the company's fwt a powerful loyalty program, ollie's army that keeps customers coming back for more those of us in the bullish camp let's just say we nailed it. meanwhile, the company's earnings grow to 28.6% clip, up from 25% the previous quarter, although down to 34% last year those are some best numbers in show for retail. ollie's beating retail too that's the kind of environment where ollie's thrives. it can get more merchandise from stores shutting down ollie's stock is cheaper than that of amazon so what about this new bear thesis the analysts here have a number of concerns. for starters the city worries taxation's gotten too high they fear it might be a small

recidivism continues and there's been a reluctance to impose harsher penalties and take a look at wells fargo which has a new scandal that arises every week do you view the post-crisis response on part of regulators towards the largest banks as being too harsh? >> well, i -- i guess i would -- i would regard the fact that we're still seeing things like what you referred to in the paper as very disturbing i don't think i would characterize our reaction to these kinds of problems as too harsh. i do think it's appropriate that we -- that we strike a professional tone in our supervision and regulation of financial institutions it and we always strive to do that, but, no, my main reaction to what you referred to is -- is one of concern that institutions are still having problems with bad behavior, bad conduct towards consumers. >> so can we then address the issue, and i'm -- i'm looking at this as well, but the conversation that you just had with senator brown regarding stress testing and the changing of the threshold which would did i mirn a-- diminish the stress s for wells fargo and many others

wells fargo in trouble again.... what it did this time that resulted in another multi-million dollar fine. (vicki)topvo plus... a small solution to a big problem. how east bay officials are making a bold move to help alleviate homelessness in the area. (grant) and after the break.... a brazen attempted robbery caught on camera at a popular shopping center in the east bay... we'll t a closer look at that video and why the theives left empty handed in a story you'll only see here on kron4... .... at stanford health care, we can now repair complex aortic aneurysms without invasive surgery. if we can do that, imagine what we can do for varicose veins. and if we can precisely treat eye cancer with minimal damage to the rest of the eye, imagine what we can do for glaucoma, even cataracts. if we can use dna to diagnose the rarest of diseases, imagine what we can do for the conditions that affect us all. imagine what we can do for you. (grant) new at nine, a crowd of criminals stormed into a jewelry store in pleasantonand tr

wells fargo has a new scandal --t arises every week or it week. do you view this as being too harsh? jerome powell: i guess i would regard the fact we are still seeing things like what you referred to in the paper as very disturbing. i don't think i would characterize our reaction to these problem's as too harsh. i think it's appropriate that we strike a professional tone in our supervision of financial institutions. we try to do that. my main reaction to what you referred to is one of concern that institutions are still having problems with bad behavior and bad conduct toward consumers. senator: can we address the issue? the conversation you just had with senator brown and the changing of the thresholds that would diminish any stress test for wells fargo as well as bank of america, is that true the way you read the bill? jerome powell: i don't think would have any effect on stress testing for wells fargo. it would only affect institutions between $100 billion and $250 billion in assets. that would be my understanding. senator: if you did it, woul

i just didn't have the flooding test the funds. >> reporter: wells fargo has donated $300,000 to help seniors nationwide. specifically veterans like valentine veteran who was in korea and japan during the korean war. >> he paid it forward in the 50s. we are here to pay a little bit of that that back today.>> reporter: wells fargo donated $20 million to nonprofits like habitat serving the needs of military vets and their families. >> this is about the individual. not just hammers and nails. >> reporter: valentine says he can walk with more confidence.>> the steps going into my home our lovely. they are really solid. >> reporter: crews are doing more painting as well as some much-needed landscaping. valentine says he's extremely grateful and i couldn't come at a better time seeing how veterans day is tomorrow. life and hayward, ktvu fox2 news . >>> president trump and vladimir putin spoke briefly and shook hands the day at the asia-pacific summit. the anorexic came after the white house said there would be no formal meeting between the two. it was a brief meeting and they smiled and sto

a new scandal for san francisco-based wells fargo.harged hundreds of clients foreign transaction fees. only 35 out of 300 businesses were charged the price they'd been quoted. by wells fargo bankers. four foreign exchange bankers have reportedly been fired. and the "wall street journal" says there is now a federal investigation. >>> several south bay charities are getting involved in today's nationwide giving tuesday movement. the sip kitchen loaves and fishes hopes to raise $30,000 to help feed people this holiday season. sacred heart community service wants to give people props and donations to show their thanks if for the work they're doing. and the urban eagle village in san jose is offering free meditation, yoga, lectures and workshops. >>> you know it's no secret the bay area has one of the hottest housing markets in the country. call it one of the most expensive as well. now we have good company in a place you might not expect. turns out the north pole is red lot just in time for the holiday season. zillow released a report say

wells fargo brightened the weekend for two purple heart recipients. one has a new car and another received a home of their own. since 2012 wells fargo has done this, donated homes to more than 350 vets. >> very good. women are less likely to get lifesaving cpr from strangers than men. the one reason why. >>> healthy eating made easier. the newest effort to get fresh fruits and veggies. >> dozens of soccer games are canceled. first this morning's bites." >>> falling prices except online. >> walmart has been boosting prices for some food and household items online as it tries to drive foot traffic at its stores. online retailer in china set an all-time record for sales. >> saturday was the country's unofficial retail holiday similar to our black friday. alibaba raked in $25 billion in just 24 hours. for comparison on black friday last year sales for online retailers in the u.s. were a combined $3.3 billion. >> wow. and brace yourself for the demon. >> dodge's controversial 2018 challenger demon is now heading to dealers boasting an 840 horsepower t. can

. >>> plus top strategist at wells fargo says he solved the market mystery. he'll be here to explain >>> and a bitcoin trading battle, the head of one of the largest brokers has a major warning about crypto currency, he says it would derail the economy. the ceo of interact i have briv will break it all down >>> nelson peltz winning a seat on the board of procter & gamble the stock is higher by as much as 3% in after hours david faber broke the story and will be here shortly this is a company that declared victory on the initial vote count and here we are, a reversal of fortunes, tim. >> they declared victory they said they thought she could work with mr. peltz' team. you have to wonder if we haven't already done a lot going into this in other words, i think the entire proxy fight was at least something that illuminated some of the key issues of this company. these are not new stories. it's about unlocking value and brands that in some cases have gotten stodgy and a company that might have more value. >> even after the company declared its own victory, a lot o

wells fargo must now pay five point four million dollars.on top of the original settlement in 20-16. the bank must also repair the service members' credit -- and pay each 10-thousand dollars plus lost equity, with interest. happening today-- surgeries at inova fairfax.... expected to resume. the hospital canceled elective procedures tuesday-- because of an issue with sterilizing equipment! inova says particles were found on some instrument trays -- even after they were sterilized. those instruments were taken out of service - and the hospital says there was no risk of infection. officials think this was caused by a mechanical problem, but everything is still being assessed. hillary clinton, the feature speaker last night on the campus of the university of virginia. the former presidential candidate was joined by virginia governor terry mcaullife and his wife for a global leadership f out on challenges facing women in the workplace and in politics. she says she believes the only way to get sexism out of politics is having more women taking pa

. >>> another scandal for wells fargo. wells fargo charged hundreds of business customers up plated foreign transaction fees in order to get their bonuses. sources told the wall street journal . wells fargo said the story is misleading and has fundamental problems. >>> there is a new push underway to let bars, nightclubs and restaurants in certain california cities to seven alcohol until 4:00 a.m. scott weiner announced the legislation yesterday. it would set up a pilot program in six cities where the mayors have said they are interested in the expanded hours. theythe senator said that bill will create jobs. >> it mattered to the economy in san francisco alone. this say six billion dollar industry that employs 60,000 people. these are good blue collar jobs. this will help us move people in to the middle class. >> he said the pilot program would give the cities total control on making decisions. it'll be introduced in january. >>> apple is trying to contain and control a bug in the new mac operating system that lets anyone

. >>> the sixers are hosting the warriors at the wells fargo center.he team is honoring a six-year-old as their strong kid of the game. "eyewitness news" reporter alycia nieves will tell us why. >> reporter: that six-year-old is one that has had to battle cancer and built a unique relationship with one of the sixers players. hanging court side at the 76ers game a special guest of sixers forward robert covington. >> was that the little man? how you? >> good. >> he is such a strong kid. his mom kind of told me what all they experienced with him and, you know, it touched me very much. >> reporter: for 18 months six-year-old giovanni from west chester new york battled large cell lymphoma. he just went into ream mission. before his birthday covington nominated his fan to be the sixers strong kid of the day. >> thank you rob. >> i got to know geo a lot over the past year. to go through all that and have such high praise and such -- a high spirit like it's amazing. >> reporter: last year he had this chance encounter with robert after a game. >> it's one of th