Wells Fargo is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans.

Potential uses for banks include risk analysis, investment portfolio construction and financial crime monitoring.

The San Francisco-based bank is proactively managing its loan portfolio and working with borrowers to restructure terms with the goal of helping clients and minimizing risk, CEO Charlie Scharf said.

The warning from the state's chief financial officer comes after a new law was passed banning banks from holding public funds if they use social and political factors in lending decisions.

The resignation comes after the bank was placed on the state treasurer's list of fossil fuel industry boycotters.

At the annual Milken conference, financial execs and dealmakers talked about what's concerning, and exciting, now.

The lender is the first of the six biggest US banks to brave the corporate bond markets since a series of bank failures in March sent risk premiums on financial debt soaring.

The lender has seen "an increase in organizing activity" by employees working with the Communications Workers of America.

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.