The legendary investor has been reducing his 13-year-old stake in BofA. It's the most recent instance of Buffett profiting from a big bet on a troubled financial institution.

Elena Gallo will replace Mara Holley, who is retiring.

The San Francisco-based bank has submitted a third-party review of its risk and control overhauls for the central bank's analysis and sign-off, according to people familiar with the matter.

Fercho is the first Black woman executive to report to Wells Fargo's chief executive officer, and she partners with the CEOs of the five lines of business at Wells Fargo to implement DEI principles. 

The latest lawsuit accuses the firm of not only failing to look out for clients' best interests but also failing to secure "reasonable returns" on money held in retirement accounts.

Kerrins is leading efforts to simplify the technology used at the $1.9 trillion-asset Wells Fargo, including an investment in four new data centers.

Patterson, general counsel for Wells Fargo, joined the bank in 2020 and works to improve the bank's risk and control standards.

Under McShane's guidance, Wells Fargo became No. 1 in real estate investment banking for the first time, achieving a market share of 15.2%.

Bank of America is planning to open 165 new branches by the end of 2026. As brick-and-mortar locations remain critical for adding new customer accounts, JPMorgan Chase and Wells Fargo are also making targeted additions to their branch networks.

A new OCC action over the megabank's anti-money-laundering guardrails, which follows news of seemingly more severe lapses at TD Bank, is raising concerns that a broader crackdown is at hand.

The penalty by the Office of the Comptroller of the Currency is a major setback for the San Francisco bank, which was freed from a separate anti-money-laundering order in 2021. Its stock price fell sharply after the news broke.

Goldman Sachs, Capital One and Wells Fargo have all suffered pitfalls in their merchant partnerships. Payment experts discuss how issuers can keep retailers and consumers onboard.

Republican State Treasurer John Fleming said he had concerns about big banks limiting business with firearms entities and Christian organizations, but has few options: "Only a small number, relatively speaking, of banks actually qualify to do the level of business that a state treasurer requires."

Former employees' Minnesota lawsuit accuses the bank of overpaying for prescription drugs, claiming mismanagement of the bank's health plan drove up costs for workers.

The San Francisco bank's interest expenses continue to rise as depositors switch to higher-yielding options. At the same time, soft loan demand from business customers is putting a lid on how much interest Wells is collecting from borrowers.

Two days after the Fed released the results of its annual stress tests, the nation's eight largest banks all announced plans to supplement their payouts to shareholders. At the same time, most of the banks also said that their capital requirements are expected to rise.

PNC has cut its credit card late fees to $8, and Wells Fargo has eliminated the charges on one new card. The moves signal that issuers are already adjusting to a CFPB rule that's currently on hold amid a court challenge.

Executives from JPMorgan Chase, Bank of America and Wells Fargo are expected to get grilled in Congress this summer over victims of Zelle scams who don't get reimbursed. A Senate panel has spent much of the last year examining fraud on the bank-owned payments network.

After employees at a handful of Wells Fargo branches voted to unionize, CEO Charlie Scharf said the bank is "committed to bargaining in good faith" but also believes employees are "best served by working directly" with managers.

Resolutions calling for more details about how the two banks protect Indigenous people's rights failed to win majority approval on Tuesday. JPMorgan Chase shareholders are scheduled to vote on a similar proposal next month.