Steven Black was a board member of BNY Mellon when Wells CEO Charlie Scharf led the trust bank. He will become Wells Fargo’s fifth chairman in five years.

Wells Fargo is pushing its return-to-office plans back a month to early October, citing rising COVID-19 rates across the U.S.

Derek Ellington will replace Steve Troutner, who is stepping down for personal reasons. He will report to Mary Mack, the bank's CEO of consumer and small-business banking.

Tanya Sanders, who joined the company in 2019, takes the reins as the division's loan growth is on an upswing. She will succeed Laura Schupbach, who is retiring after 26 years at Wells.

The San Francisco company said it will offer workers varying degrees of flexibility based on job type and experience. The bank will also collect data on who has been vaccinated.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

Wells Fargo’s average loans tumbled in the second quarter as consumers and businesses, buoyed by pandemic stimulus programs, refrained from more borrowing.

Wells CEO Charlie Scharf, a former Jamie Dimon protege, has surrounded himself with JPMorgan Chase alumni. Ling will start in October and join the company’s operating committee.

Wells Fargo said it’s shutting down all existing personal lines of credit and will no longer offer the product to its customers.

A 2017 investigation into the fake-accounts scandal — conducted by the board of directors with a major assist from the law firm Shearman & Sterling — was billed as independent and objective. Was it?