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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Wells Fargo named Steve Troutner head of the community bank's U.S. Western region, one of the unit's most senior outside hires since a scandal over bogus accounts erupted more than two years ago.
January 24 -
The bank says regulators want information about its possible role in the money laundering scandal; Kristi Mitchem moves to BMO Global Asset Management.
January 24 -
In letters to the Treasury secretary and CEOs of the largest banks, the Massachusetts Democrat questioned why Mnuchin was trying to quell liquidity fears that had not previously been mentioned by regulators.
January 18 -
A CFPB report revealed that the fees charged to college students by Wells Fargo for financial products are three times higher than average. Sen. Warren wants to know why.
January 17 -
Sen. Elizabeth Warren questioned the five largest U.S. retail banks in a letter on what they are doing to reduce the impact of the government shutdown on customers.
January 16 -
The deal, valued near $22 billion, will combine two of the financial services industry's largest tech and processing firms; both banks top expectations.
January 16 -
Now that Wells must abide by the central bank's asset cap through year-end, it may have to divest more nonessential assets and take other steps to open up room for core loan growth.
January 15 -
Wells Fargo & Co. is planning to operate under a Federal Reserve asset cap through the end of 2019, rather than just the first half of the year, as it takes longer than anticipated to correct issues in its consumer business.
January 15 -
Revenue slumped 5% in the fourth quarter, the third drop in the past year and a bigger one than analysts had expected.
January 15 -
The bank missed expectations although profit rose 67%; with the California Democrat leading the House Financial Services Committee, deregulation could slow.
January 15 -
Saul Van Beurden will have oversight of both technology and information security and will report to CEO Tim Sloan.
January 9 -
4.5% rates could trigger more homebuying and refinances; Sherborne Investors wants a seat on the bank’s board so it can facilitate change.
January 8 -
CEOs on the hot seat. Banks fighting to stay independent. Comfortable players ripe for disruption from Amazon and others. It is shaping up as a riveting year.
January 8 -
Senator Elizabeth Warren’s first trip to Iowa as a likely presidential candidate highlighted her fiery anti-Wall Street populism.
January 7 -
Linda Lacewell replaces Maria Vullo as New York’s chief financial regulator; the Swiss bank is reportedly talking to Christian Meissner about a senior role.
January 7 -
Two trends — competition from challenger banks and the emergence of real-time payments — threaten to eat away at the fees banks collect on overdrafts and bounced checks.
January 6 -
Several fintechs are testing apps that let customers gain more say over how third parties use their data — and hope to one day be able to give them the power to revoke access to it entirely.
January 1 -
The year saw anxiety over how banks would respond to record consumer debt, disruptive glitches at TD Bank and SunTrust, ongoing scandal at Wells Fargo, and much, much more.
December 30 -
The cost of Wells Fargo's scandals continues to rise as regulators from all 50 states forced the institution to pay hundreds of millions in penalties for the creation of fake accounts, improper enrollment in life insurance, force-placed auto insurance policies and other activities.
December 28 -
It was a year to remember for women executives at SunTrust and Amex’s new CEO, and one to forget for Wells Fargo and investors in bank stocks.
December 25
























