The firm reported $13.3 billion in NII in the first three months of the year, up 45% from a year earlier and more than the 42% jump analysts expected. That gain helped counter a surge in provisions for souring loans.

The generative AI technology has been through a cycle of media buzz, disappointment and disillusionment. 

The company says that regulators are investigating its retention of employee communications over unapproved messaging apps. It's latest bank to get caught up in an industrywide sweep that's already yielded over $2 billion in fines. 

The government set forth five principles companies should follow when they use artificial intelligence. Chintan Mehta, CIO of strategy, digital and innovation at Wells Fargo, shares how one of the largest banks does it.

The banking industry appears to be stuck when it comes to diversifying the leadership ranks.

The bank's delay in investigating the case forced the plaintiff to resign from the bank in July 2021, according to the complaint. Wells said that it takes allegations of misconduct "very seriously."

Wells Fargo will pay $300 million to settle a lawsuit claiming it improperly charged customers for unneeded auto-collision protection insurance — and hid the practice from investors.

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.