Compensation
The upstate New York bank took criticism last year over layoffs tied to its acquisition of People's United Financial. Connecticut's attorney general now has additional questions about both the job cuts and problems with a recent systems conversion.
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The fourth-largest U.S. bank by assets has commissioned an outside law firm to assess its diversity practices. Wells had previously resisted a shareholder proposal that would have authorized a similar review.
September 14 -
Over the course of 10 years, the bank's Disability Advocacy Network has implemented other initiatives to improve interactions with staff members and customers with disabilities or cognitive disorders.
September 13
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Sarver, who owns the NBA's Phoenix Suns and the WNBA's Phoenix Mercury, is facing a one-year suspension and a $10 million fine after an investigation found evidence of workplace misconduct. The Arizona bank where Sarver previously served as chairman and CEO is also discussed in an investigative report released Tuesday.
September 13 -
After investment banking fees fell by 54% last quarter, the nation's largest bank by assets is considering cutting back. "Last year, we had to add a lot of bodies just to execute the huge amount of volume we were executing," Chief Operating Officer Daniel Pinto said Tuesday.
September 13 -
The San Francisco bank's employee retirement plan allegedly overpaid for preferred stock that was eventually deposited into employees' retirement accounts. The bank said that it "strongly disagrees" with the Department of Labor's allegations, but it agreed to the payment in order to resolve the matter.
September 12 -
The Biden administration's Property Appraisal and Valuation Equity Task Force is working to eliminate race-based bias in the assessment of home values.
September 12 -
By offering financial education through local crisis centers and community groups — and following through with access to credit — many credit unions are building trust with people who had been wary of working with mainstream institutions.
September 12 -
Financial downturns hit lower-wealth communities first and cause them to suffer the longest.
September 9 -
Earlier this year, canvassers visited branches in five California counties to ask about account options. Some 37% of those who spoke Spanish were unable to talk to a banker, compared with 15% of English speakers, according to a report by the Roosevelt Institute.
September 8
