https://www.bloomberg.com/news/articles/2026-04-22/wells-fargo-lent-to-uk-s-mfs-as-barclays-exited-deal-froze-accounts
3 replies (most recent on top)
Money laundering concerns are unlikely to be an enforcement priority under the current administration (to say the least). Maybe there's some regulatory attention and bad press, but seems very unlikely to topple the executive team. Even if the country was being run by a more sane set of people, a scandal in private credit is way less likely to generate the furor that the account creation scandal generated. The account creation impacted everyday Americans, most everyone knew at least one person who was affected. Politicians could score easy points by going on the attack. It was also a time where there was still resentment over the treatment of big banks following the great financial crisis, as well. The number of everyday americans affected by a scandal in private credit is basically zero.
This one is free...
https://www.youtube.com/watch?v=TRfHvVQxXkY&t=239s
paywall