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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The recent decision involved sales taxes, but Wells Fargo recorded a net expense of $481 million under the assumption that it will also lead to higher state income taxes. Other banks may have to follow suit.
July 18 -
Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide.
July 16 -
The unit’s profits plunged in the second quarter as the company contended with the fallout from overcharging wealth management clients. Was it a one-off or the beginning of a long-term problem?
July 13 -
Mortgage fees at the nation’s biggest home lender declined by a third in the three months ended June 30 to the lowest in more than five years.
July 13 -
The change in store card branding would be a big blow to Synchrony; “equivalence” with EU rules “falls far short” of U.S. banks’ hopes.
July 13 -
Flagstar Bank, which is in the process of buying more than 50 branches from Wells Fargo, has hired Ryan Goldberg as a director of retail banking.
July 10 -
A first-in-the-nation ordinance, passed by the city council in the wake of the Wells Fargo scandal, would require banks that want the city’s business to reveal if they have sales quotas for employees. It remains to be seen, though, whether Mayor Eric Garcetti will sign the measure into law.
July 3 -
"Banks should be investing in innovation in this area or risk getting left behind," a fintech CEO warns.
July 3 -
Turnover of chief risk officers is on the rise as CEOs look to add executives whose experience goes far beyond assessing credit risk. Sometimes they are promoting from within, but often they are poaching talent from rival banks.
July 2 -
USAA reigns, Wells Fargo, well, doesn't. Here's a look at the highs and lows in this year's survey, as well as the trends that drove the results.
July 1