Congresswoman Katie Porter (CA-45) issued the following statement after the announcement that Wells Fargo CEO Tim Sloan would be resigning effective immediately: “Mr. Sloan presided over scandal after scandal at Wells Fargo, tried to minimize the wrongdoing in his testimony to Congress, and then failed to give customers the relief he promised. It was time for him to go –… Read more »

Timothy J. Sloan went to Capitol Hill on Tuesday to convince members of Congress that Wells Fargo had become a better bank. By the time he left, it was clear that few believed him. Mr. Sloan, the bank’s chief executive, fielded intense criticism during four hours of testimony before the House Financial Services Committee. Democrats and Republicans alike grilled Mr. Sloan, whose bank has… Read more »

People have tried to hold Equifax responsible since its massive security breach in which almost 150 million people had their sensitive personal information exposed. Some have successfully sued Equifax in small-claims court, and won even after the company’s expensive lawyers appealed. Many, however have not won, as the case is a tricky one. How do you show damages after getting your… Read more »

IRVINE, CA – Congresswoman Katie Porter (CA-45) today issued the following statement in response to ongoing reports that Argosy University students have yet to receive financial aid funds expected in early January. Argosy’s parent organization, Dream Center Education Holdings, runs numerous former for-profit universities, including Western State College of Law in Irvine. “It’s… Read more »

– Congresswoman Katie Porter (CA-45), a longtime commercial law professor and consumer protection attorney, announced today that she will be serving on the House Financial Services Committee. The Committee is responsible for ensuring that the economy works to create prosperity and opportunity for American families. “From bringing accountability to the big banks to… Read more »