Wells Fargo, in trouble with regulators and lawmakers, is having trouble finding a new boss.
After two years of scandals, now the bank is dealing with employees who forged meal receipts.
With Fed giving Wells Fargo good marks on its financials, the bank tries to look beyond recent scandals
Wells Fargo has seen its share of bad headlines recently … from news it opened fake accounts, to a payout of $1 billion to settle claims of improper mortgage and auto lending practices. But there was a bright spot for the bank last week when it passed the Federal Reserve’s annual stress test, that measures […]
The acting director of the Consumer Financial Protection Bureau talks about the agency's decision to fine Wells Fargo.
The settlement also contains other requirements that would restrict Wells Fargo’s business.
Jerome Powell was sworn in as the new chairman of the Federal Reserve today. But it’s his predecessor, Janet Yellen, who’s making waves in the markets. Last Friday, in one of her last actions as Fed chair, Yellen slapped an unprecedented penalty on Wells Fargo. The bank can no longer grow larger until it makes […]
As Wells Fargo and JP Morgan Chase report earning this week, analysts are looking ahead and anticipating that the tax bill, regulatory rollbacks, and a sound overall economy with low unemployment will mean a strong year for banks. Click the audio player above to hear the full story.
Federal Reserve Chair Janet Yellen said the Fed is prepared to take action against Wells Fargo but won’t say when. For its part, Wells Fargo said it’s committed to making things right for its customers and is eliminating sales goals for retail bankers in its branches and call centers.
Scandal-besieged Wells Fargo seems to be cleaning up its act. It’s replacing three of 15 board members, including the chairman. Stephen Sanger will step down at the end of the year and current Vice Chair Elizabeth Duke will take his place. Is this a real change for the bank? Click the audio player above to […]