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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Executives from JPMorgan Chase, Bank of America and Wells Fargo are expected to get grilled in Congress this summer over victims of Zelle scams who don't get reimbursed. A Senate panel has spent much of the last year examining fraud on the bank-owned payments network.
May 22 -
After employees at a handful of Wells Fargo branches voted to unionize, CEO Charlie Scharf said the bank is "committed to bargaining in good faith" but also believes employees are "best served by working directly" with managers.
April 30 -
Resolutions calling for more details about how the two banks protect Indigenous people's rights failed to win majority approval on Tuesday. JPMorgan Chase shareholders are scheduled to vote on a similar proposal next month.
April 30 -
The agency has a history of tangling with parent companies over how to split the burden after banking units collapse.
April 26 -
Big banks have long faced allegations of bias against women, with several high-profile cases coming in recent years.
April 19 -
JPMorgan Chase and Wells Fargo said the battle for deposits isn't over — a reality denting their ability to earn more interest income. Regional banks will likely report similar pains next week.
April 12 -
First-quarter results at the companies were promising for other banks looking to reel in fees from capital markets activities as deposit costs put pressure on net interest income.
April 12 -
The company missed estimates for net interest income in the first quarter, a sign that muted loan growth and increased pressure to pay out more for deposits are eating into the benefit of higher rates.
April 12 -
With the market predicting fewer interest rate cuts than previously anticipated, analysts expect some larger banks will increase their 2024 guidance for net interest income when they start reporting earnings on Friday.
April 10 -
The first major hurdle arises for lenders that approach $100 billion in assets. That's when they have to deal with a key regulatory threshold, becoming so-called Category IV banks, which are subject to stiffer capital rules and oversight.
April 4