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CEO Charlie Scharf’s long-awaited expense-reduction plan got a chilly reception from investors.January 15
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The OCC had hit James Strother and other executives with civil charges a year ago in connection with the bank's phony-accounts scandal. His monetary penalty is lower than what the agency had first floated.January 15
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Fourth-quarter results were hurt by restructuring and customer-remediation charges, but the release of credit-loss reserves and the sale of a student-lending business gave an unexpected boost to net income.January 15
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A team led by Michael Lipsitz, a lawyer hired away from Santander last year, will look at everything from whether prices are fair to whether complaint data contains notable trends.January 12
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The Office of the Comptroller of the Currency terminated a 2015 consent order that required the bank to improve its controls for combating money laundering.January 5
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Inside Wells Fargo, managers say they intend to build a more commensurate presence on Wall Street, where the firm ranks a mere ninth in capital markets and deal advisory, by focusing on business lines and industries where it already has credibility.January 4
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The bank has been streamlining common activities for commercial clients as part of a yearlong digital transformation.December 23
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The bank's release from a five-year-old enforcement action would mark progress in CEO Charlie Scharf's efforts to resolve its sprawling regulatory problems. But 10 more consent orders, including an asset cap imposed by the Federal Reserve in 2018, remain in place.December 21
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The $10 billion portfolio of what are described as high-quality private student loans will be serviced by Nelnet.December 19
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Moore led development of Bank of America's virtual assistant, Erica, and was American Banker's Digital Banker of the Year in 2017.December 18
