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Here Are the Top Finance Stories of the Day for May 13

Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:

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Micromanagement, surprise employee investigations, and email surveillance: Why top mortgage bankers are quitting Wells Fargo in the middle of a red-hot housing market

Wells Fargo; Samantha Lee

More than 20 of the bank’s top

mortgage lenders
have left in the past year, while four members of the elite President’s Club have left since December. Insiders described a culture of heavy oversight and clunky technology that limited their ability to do business. 

Why Wells Fargo is bleeding talent.

Inside the crazy world of whistleblower lawsuits, where anonymous tipsters make millions

Samantha Lee/Insider

The CFTC’s whistleblower program could go bust thanks to a high-dollar payout. Here’s why a $100 million payout to a former Deutsche Bank executive could put it in jeopardy.

The SEC has proposed cracking down on blank-check companies. Why the ‘SPAC Mafia’ hedge funds aren’t worried about regulation.

Brian Snyder/Reuters

Despite the SEC’s proposed new regulations on special-purpose acquisition companies, hedge-fund managers say the rule changes won’t affect their outlook on the blank-check vehicles. Here’s why.

SEC commissioner Hester Peirce says the agency…

Read More: Here Are the Top Finance Stories of the Day for May 13

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