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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Readers opine on the prospect of regulatory relief, weigh in on the need for regulators to become more tech savvy, react to HSBC hopping back into U.S. mortgage lending and more.
March 15 -
CEO Tim Sloan was paid $17.4 million, though he was denied a cash bonus, as the San Francisco bank continued to contend with scandal fallout.
March 14 -
With rate hikes aplenty expected this year, Wells Fargo and Bank of America are said to be subdividing key markets to target deposit pricing in the future and minimize costs. These are among several innovative steps large banks are taking to prepare for more competition for deposits.
March 14 -
The top examiner of Wells Fargo at the Office of the Comptroller of the Currency improperly revealed to the San Francisco bank the existence of a government investigation, according to the Treasury's inspector general.
March 9 -
Wells has helped gun and ammunition companies access $431 million in loans and bonds since the 2012 Sandy Hook shooting. Other financial firms that are active as bookrunners for gunmakers include Morgan Stanley, TD Securities, Bank of America and JPMorgan Chase.
March 7 -
Wells Fargo agreed to publicly report on the root causes that led to a rash of ethical lapses in recent years, a group of investors, led by the Interfaith Center on Corporate Responsibility, said.
March 6 -
The estimated costs of recent digital glitches at BB&T, TD and Wells Fargo are in the hundreds of millions of dollars, but contractual and economic realities make it hard for banks to sue vendors for the money or fall back on insurance policies.
March 2 -
California State Treasurer John Chiang, who’s on the boards of the state’s biggest pension funds, was among those who said the changes weren't enough. Chiang also called for CEO Tim Sloan to step down.
March 2 -
The bank overcharged some customers and some received inappropriate investment advice; 2.4 million more people were affected by the breach.
March 2 -
Wells Fargo, which has been told by the Fed that it needs to improve its governance and controls, on Thursday received an important thumbs-up from its outside auditor and also named the four senior directors who will retire next month.
March 1