Kleber Santos will be responsible for building a more inclusive workforce and designing products that meet the needs of a broader, more diverse range of customers.

The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1.

The bank is scaling back how it distributes research to clients, part of a push to simplify operations and lower headcount, according to people familiar with the matter.

Wells Fargo is exploring a sale of its corporate-trust unit that could fetch more than $1 billion and is considering whether to find a buyer for its student loan portfolio, according to people familiar with the matter.

Speculation is part of the reason for the growing differential in market capitalization between legacy financial institutions and upstarts. But one venture capitalist says it's "a call to action" for traditional banks to match fintechs' all-digital, customer-friendly services.

The about-face followed a swift backlash from affected employees, who earn more than $250,000 a year, according to people with knowledge of the situation.

Wells Fargo is exploring the sale of its asset management unit, a business that could fetch more than $3 billion, according to a person briefed on the matter.

With the sector facing serious headwinds — from declining enrollment during the pandemic to the prospect of a Biden administration making college free for many families — the departure of a major player could be a shot in the arm for the likes of Discover and Sallie Mae.

Warren Buffett isn't known to ask much of companies in which he buys stock. Then last year, as Wells Fargo's top investor, he publicly advised the board not to hire a leader from Wall Street — and it did. What ensued shows what can happen when a company rejects the legendary investor's advice.

Wells Fargo fired more than 100 employees suspected of improperly collecting coronavirus relief funds, according to a person with knowledge of the situation.

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

Four of the nation's largest banks updated their progress in recent days on return-to-office plans. The takeaway: Most workers won't be back anytime soon.

The company posted a surprise increase in third-quarter expenses as it set aside almost $1 billion for customer remediation and $718 million in restructuring charges.

Wells Fargo cut more than 700 commercial banking jobs as it embarks on workforce reductions that could ultimately number in the tens of thousands, according to people with knowledge of the matter.

House forgiveness plan for Paycheck Protection Program loans is better than nothing, bankers say; why some banks still lean on mainframes; what's next for Goldman Sachs's Marcus; and more from this week's most-read stories.

The lawsuit follows two successful USAA suits against Wells Fargo that claimed infringement of patents.

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

A new watchdog report finds that prior to 2015, the Office of the Comptroller of the Currency missed numerous opportunities to address misconduct at the San Francisco bank.

Waiting for the SBA to sign off on PPP loan forgiveness; banks criticized for requiring balloon payments on loans in forbearance; how backlash over Scharf remarks affects Wells Fargo’s diversity push; and more from this week’s most-read stories.

The company's new agreement with Envestnet Yodlee to share customers' account data over secure pipes is its 17th pact with aggregators and other fintech firms.