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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:

If you’re not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco


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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