Wells Fargo
Wells Fargo
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management.
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There are outstanding questions about whether Elizabeth Duke, who has been on Wells Fargo's board since January 2015, is the right person to lead a culture change at a large bank mired in scandals and investigations.
August 16 -
As expected, the bank elevates its vice chairman, former Federal Reserve Governor Elizabeth Duke, to the top spot; credit card delinquency rates rise along with balances.
August 16 -
Duke, currently vice chairman, was rumored to be a likely contender for the chairman spot last week.
August 15 -
The Consumer Financial Data Rights group, representing aggregators and fintechs, says banks still aren’t forking over enough customer data. The group is meeting with bank regulators and trying to get consumers to petition regulators on its behalf.
August 15 -
Warren Buffett’s firm buys big stake in retail credit card issuer while dumping shares in its former parent, GE; long-awaited update speeds transactions in the digital currency network.
August 15 -
The mishandling of the two former employees’ complaints, detailed in documents and by former OSHA officials, raises questions about the government’s treatment of whistleblowers throughout the financial services industry.
August 14 -
Bank accused of overcharging small-business credit card customers; is digital currency an investment vehicle or just a currency?
August 14 -
The $2.6 trillion-asset bank's recent commitment to digital lending augurs the development of a two-tier market for borrowers who want fast access to cash.
August 11 -
Stephen Sanger is expected to leave as nonexecutive chairman; Barry Rodrigues, a former Citigroup and American Express executive, will join the British bank in November.
August 11 -
Chairman Stephen Sanger could step down ahead of the embattled bank's next annual meeting, according to a news report, clearing the way for the elevation of Duke, the current vice chairman and a former Fed governor and banking executive.
August 10 -
JPMorgan CEO Dimon says banks are putting Silicon Valley to shame … in terms of diversity; Uber’s plan to replace its CEO with a woman seems to be sputtering; and Yellen’s potential successors also are all men.
August 10 -
The largest banks are approving small-business loan applications at the fastest rate since the recession, a sign that that they are willing to assume more risk and taking seriously the threat of competition from online lenders.
August 9 -
Wells Fargo's regulators are looking into another issue involving insurance linked to auto loans as scrutiny of a key lending unit widens, according to people with knowledge of the matter.
August 8 -
Wells Fargo's admission that it charged customers for auto policies they didn't request has prompted an investigation by the California Department of Insurance.
August 8 -
Bank may have failed to refund insurance premiums to customers who repaid their auto loans early; digital coin offerings proceed despite warnings from SEC.
August 8 -
Bank warns investors of bigger fallout from scandals; Senate Republicans may not have votes to overturn rule ending mandatory arbitration.
August 7 -
Wells Fargo customers suing the bank for forcing them to pay for unnecessary auto insurance that drove some of them into default on their car loans asked a court to order the bank to immediately take steps to repair their credit reports.
August 4 -
The bank’s “reasonably possible” legal charges could surpass its reserves by $3.3 billion as of June 30, a Wells securities filing says.
August 4 -
Wells Fargo & Co. settled an 11-year-old lawsuit with the U.S. government that claimed the lender overcharged veterans under a federal mortgage-refinancing program.
August 4 -
The Department of Financial Services and Attorney General Eric Schneiderman are both inquiring.
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