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Wells Fargo has agreed to pay $81.6 million to settle a federal investigation into its alleged failure to properly notify homeowners of increases in their mortgage payments.
November 5 -
Wells Fargo Home Mortgage has shifted Perry Hilzendeger to head up its mortgage servicing operations from his previous position of running its home loan default business.
November 3 -
Wells Fargo is ready to recruit more than 200 brokers from Credit Suisse's U.S. private banking unit set to close early next year, with the Swiss bank's blessing.
October 30
Wells Fargo said it does not have any immediate plans to acquire a wealth management business in the U.K., following media reports that it's looking at two companies.
Wells Fargo is considering an acquisition of Henderson Group and Jupiter Fund Management, both U.K. fund managers, the Sunday Times
"While we are continuously looking at how we can enhance our investment capabilities and meet our clients' investment needs, we have no immediate plans to acquire a UK-based investment firm," John Roehm, a company spokesman, said in an emailed statement on Monday. He declined further comment.
John Stumpf, chairman and chief executive, has been open about his intentions to expand Wells Fargo, the Sunday Times reported, citing its Wachovia takeover following the financial crisis. Stumpf plans to double the size of Wells Fargo's funds business in the next decade.
Shares in both Henderson and Jupiter rallied, hitting three-month highs to $5 billion and $3 billion, respectively, following the Sunday report.