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.

The bank plans to shrink its vast mortgage empire, which once churned out one of every three home loans in the U.S. and for a time made the bank the most valuable in the nation.

Wells Fargo CEO Charlie Scharf hired Mike Weinbach in 2020 as part of a broader organizational shake-up. The former JPMorgan Chase executive is leaving in mid-September as the consumer lending group transitions to a new leader.

An independent investigation found no evidence of a pact with Wells Fargo’s attorney but omitted mention of the other big questions emanating from the case.

Inflation isn't only driving up travel costs — a key category for credit card spending — it's making shoppers more selective about how they earn and redeem loyalty points for products hit hardest by price increases.

The firms respectively settled the regulator’s allegations about suspicious activity reports and the duty of best execution — two major areas of emphasis.

Warren Buffett's Berkshire Hathaway, which cut many bank holdings as the pandemic bore down on the U.S., is back with a roughly $2.9 billion bet on Jane Fraser’s Citigroup even as it said goodbye to a longtime stake in Wells Fargo.

The wealth programs in the channel are going through a significant shift amid major recruiting moves and consolidation, according to a consultant’s report.

From the threat of cyberattacks to discriminatory lending practices, banks need to pay close attention to a number of significant challenges.

While millions of employees have voluntarily left their jobs over the past year, senior level industry leaders have continued to advance their careers.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.