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SANTA ANA, Calif. (AP) — Wells Fargo has agreed to pay at least 5 million to settle a California lawsuit alleging it signed up thousands of auto loan customers for costly car insurance without their consent, resulting in many having their vehicles repossessed.The bank filed the agreement Thursday in a federal court in Santa Ana. It still needs a judge's approval.Another defendant, National General Insurance, agreed to pay .5 million, the New York Post reported.San Francisco-based Wells Fargo confirmed the agreement Friday and called it "an important step in making things right." The bank's statement said that it will be sending checks to affected customers.The 2017 class-action lawsuit alleged that for more than a decade, Wells Fargo tacked on insurance to customers' car loans that they didn't need because they had private insurance.Some 25,000 car owners couldn't meet the additional fees and had their vehicles repossessed, the suit alleged.The bank acknowledged in 2017 that million in unnecessary insurance charges had been added to 800,000 auto loans.It's one in a series of scandals involving the banking giant, starting in 2016 with the uncovering of millions of fake checking accounts its employees opened to meet sales quotas.That led to the resignation of CEO John Stumpf. Last year, the Federal Reserve capped the size of Wells Fargo's assets, and Stumpf's replacement, Tim Sloan stepped down in March. New improprieties had come to light on his watch, including the auto loan issues.Federal regulators who lost patience with Wells Fargo's continued bad behavior inflicted harsh punishments. Wells had to pay a billion fine last year to the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency. But more importantly, the Federal Reserve stepped in and handcuffed Wells' ability to grow its business until the bank could prove that it had gotten its house in order.Despite the restrictions, Wells Fargo reported in March that it earned .86 billion and profits rose by 14% from a year earlier, helped by higher interest rates.Wells Fargo stock closed down 29 cents Friday at .63 per share. 2169
SANTEE, Calif. (KGTV) - A battle is brewing over a massive new housing project that would boost Santee’s population by 15 percent. Developers of East County’s Fanita Ranch project will try to win over residents at a meeting Wednesday night. 10News first covered the housing proposal in 1999. Fanita Ranch would bring nearly 3,000 homes, a school, parks, and open space. Councilman Stephen Houlahan says the project would bring more money to Santee. “The city needs to grow; that’s just how it is.” Some residents oppose adding more people and traffic. “The traffic getting to and from work is a major issue.” In 2007, the developer submitted a plan that received fierce opposition. 12 years later, they are presenting a new one at council chambers. Regardless of the council’s decision, the matter will likely go to a vote. 831
SAN FRANCISCO (AP) -- Tommy Pham hit a go-ahead single in the 10th inning after Trent Grisham began at second base under baseball's new extra-innings rule, and the San Diego Padres beat the San Francisco Giants 12-7.Pinch-hitter Greg Garcia added a key two-run single against Tyler Rogers in the big six-run 10th.The Padres' bullpen couldn't hold a late lead for the second straight game but San Diego was still able to hold on this time.The Padres have won seven of their last 11 series in San Francisco and two in a row dating to late last season. 557
SAN MARCOS, Calif. (KGTV) — San Marcos is taking a stricter stance on pet control.A newly passed ordinance allows the city to label people “irresponsible pet owners” and levy harder penalties.The city or the San Diego County Humane Society can impound the animals of people who are declared “irresponsible owners” under the ordinance and ban hem from owning any animals for up to three years.According to the rules, an “irresponsible owner” is an individual who has received three of more citations in the last two years for an unrestrained animal, guard dog, dangerous animal or nuisance violation.Dangerous animals per the ordinance are those that have attacked a person or another domestic animal two times within four years, or have injured or killed a person once within four years. 795
SAN YSIDRO, Calif. (KGTV) -Business owners in San Ysidro worry that yet another month of restrictions on non-essential travel between the US, Mexico, and Canada could close them for good.For the eighth month in a row, the land borders between the United States and its neighboring countries to the north and south will remain closed to non-essential travel to help limit the spread of COVID-19.Monday U.S. Customs and Border Protection officials confirmed the extension would last through at least December 21st.Geneva Gamez and her family run Tacos La Fronterra in San Ysidro. "It's kind of been a roller coaster ever since. Everything keeps changing," said Gamez. The agreement continues the hold on tourism and recreational trips, but essential business and trade are not affected. Crossing for educational or medical reasons is also permitted. "You don't get much traffic down there unless somebody is going into Mexico or coming back from Mexico," said Gamez.Gustavo De La Fuente is the executive director of the Smart Border Coalition. He said the impact of the restrictions is far-reaching." You're looking at a little over 700 businesses that could close definitely, and that's actually very worrisome," said De La Fuente. The holiday season is when many of the business owners make most of their money."This is the time of the year when 80% or more of their sales are coming for the entire year, their sales are most of their sales are concentrated in these last 5, 6 weeks of the year," said De La Fuente. Gamez hopes people remember the family-owned businesses when they're doing their holiday shopping. "It's affecting part of the San Diego community that's somehow you know isolated, cause it's so close to the border and it's often forgotten, if people could just make the effort if they can, to drive down there or somehow support small businesses in the area, they'd be doing a lot of good for that part of the community." 1946