In February 2018, the Federal Reserve prohibited the San Francisco-based bank from growing beyond $1.95 trillion. Five years later, analysts, investors and lawmakers are left with more questions than answers about the unprecedented enforcement action.

Wells Fargo kept Chief Executive Charlie Scharf's pay at $24.5 million for 2022, a year in which both profit and stock tumbled and the bank continued to grapple with the fallout from a raft of scandals.

The company will also be reducing its servicing portfolio.

Big banks are aiming to bring their existing technologists up to speed with cloud certification and other modern architecture training.

Many in Utqiagvik, Alaska, say they like banking with the country's fourth-largest bank. But they also want more banking options in their town, a reality that rural communities across the United States face.

Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.

An administrative law judge has recommended that a trio of onetime Wells executives be ordered to pay a combined $18.5 million in connection with the bank's fake-accounts scandal.

Wells Fargo cut hundreds more mortgage employees Thursday, the latest in a series of reductions across the industry after higher interest rates brought the pandemic-era home-lending boom to halt.

A blueprint for a shared ledger for digital money would include central bank digital currencies, bank deposits and e-money from companies like PayPal — but not unsupervised cryptocurrencies.

The regulator's demand in confidential talks to settle a series of investigations into mistreatment of customers, described by people with direct knowledge of the matter, reflects its escalating frustration with the bank, which has been punished multiple times by authorities over the past six years for a variety of abuses.

Kristy Fercho, who's run the bank's home lending division since August 2020, will report directly to CEO Charlie Scharf and sit on the operating committee. Last year, she became the first Black person to chair the Mortgage Bankers Association, and she took the top spot in American Banker's Most Powerful Women to Watch this year.

Wells Fargo, which set aside $2 billion last quarter to deal with legal matters, said it's in discussions with the Consumer Financial Protection Bureau to resolve investigations.

The bank is using Google Assistant technology to power its virtual assistant, Fargo, according to Michelle Moore, head of digital at Wells.

Wells Fargo set aside an additional $2 billion to resolve a variety of legacy regulatory and legal woes as Chief Executive Charlie Scharf continues wrestling with the costly fallout from scandals he was hired to resolve.

At American Banker's Small Biz Banking conference, bankers said they are throwing community events, working with local nonprofits and trying to turn lending decisions from "no" to "yes."

Kara McShane took over as head of the commercial real estate team at Wells Fargo at an inauspicious time: February 2020, when COVID-19 was heading toward pandemic status and offices were starting to empty out.

It was a strong first full year for Kristy Fercho, who was named head of Wells Fargo home lending in July 2020, landing her the top spot on the Most Powerful Woman to Watch list.

Wells Fargo remains committed to turning itself around following a series of scandals that have plagued the bank since the middle of the last decade, but it will take "several years of work" to satisfy U.S. regulators, Chief Executive Charlie Scharf said.

At an industry conference, a Federal Reserve official spoke about standardizing climate risk disclosures, while a representative from the Office of the Comptroller of the Currency examined the red-state backlash against banks that disfavor fossil fuels.