U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.

The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.

The Accountability Board, a three-year-old-group focused on corporate governance issues, said the bank shouldn't have backtracked on a longstanding policy separating the chairman and CEO roles.

Doyle describes herself as naturally optimistic, even after being a passenger on the plane that crashed into the Hudson River in 2009.

In a newly created role, Kerrins' mandate is to modernize the bank's platforms and embed AI capabilities across the enterprise.

In a still challenging CRE market, McShane emphasizes careful underwriting and sticking to fundamentals.

A penchant for asking questions led to Cheslin's promotion to managing director.

As the holiday shopping season approaches, retailers are grappling with how to optimize their inventory and set prices amid higher tariffs. A new Wells Fargo report sheds light on how businesses are adapting.

A recent bargaining session was interrupted when union representatives learned that a Wells executive who wasn't in the room could hear what was being said. The bank maintains that it was a simple mistake involving a Microsoft Team meeting that should have been disconnected, but union officials aren't buying that story.

The bank is giving all employees Google's Deep Search and NotebookLM, and it will start creating agentic AI virtual assistants using Agentspace. 

Strong fee income growth and solid credit quality helped offset weak demand for credit as the San Francisco-based bank reported a 20% boost to earnings per share from a year ago.

After passing the Federal Reserve's stress tests with high marks, large banks announced dividend increases. In some cases, they also said the Fed had conceded that certain prior calculations needed to be revised.

It's early, but financial institutions are getting ready to issue the digital asset.

Analysts are predicting stronger results this year after a disappointing outcome in 2024.

In 2021, banks pledged to wind down their support for oil and gas. Last year they made a $162 billion U-turn, according to a new report from a coalition of advocacy groups.

The JPMorgan Chase CEO also sounded off on regulatory requirements, expressing optimism that capital rules will be scaled back.

Regulators' decision to lift a seven-year-old cap on the size of the megabank's balance sheet will produce benefits over the long haul, but it won't result in any sudden gains, according to CFO Michael Santomassimo.

The San Francisco-based bank was long hamstrung by a regulatory order that kept it under $1.95 trillion of assets. Now Wells can hit the gas on business lines it had kept idle.

The transaction comes as the megabank is determined to simplify its operating model and shed units that have slower growth prospects or aren't core to its business.

The megabank, which has spent years trying to improve its regulatory compliance, now has just one consent order remaining. And observers expect that Wells' historic asset cap will be lifted soon.