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Wells Fargo Fires More Than 100 Workers Over Relief Fund Abuse - Bloomberg News
Wells Fargo Reports Q3 2020 Net Income Of $2.0 Billion, Or $0.42 Per Share
Wells Fargo Launches New Low-Cost Account With No Overdraft Fees
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial. It provides retail, commercial and corporate banking services through banking locations and offices, the Internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia and in other countries. It provides other financial services through its subsidiaries engaged in various businesses, including wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing services, investment advisory services, mortgage-backed securities servicing and venture capital investment.
420 Montgomery St
SAN FRANCISCO, CA
Charles H. Noski
Independent Chairman of the Board
Charles W. Scharf
President, Chief Executive Officer, Director
William M. Daley
Vice Chairman of the Board - Public Affairs
John R. Shrewsberry
Chief Financial Officer, Senior Executive Vice President
Scott E. Powell
Chief Operating Officer, Senior Executive Vice President
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Wells Fargo & Co is exploring a sale of its asset management business, in what would be the U.S. bank's biggest shake-up since former Bank of New York Mellon chief executive Charles Scharf joined as CEO last year, people familiar with the matter said on Thursday.
Banks that facilitated the U.S. government's Paycheck Protection Program at first saw the effort as a small revenue booster with a patriotic bonus, shepherding $525 billion in loans to businesses slammed by the fallout of the COVID-19 pandemic.
Wells Fargo & Co has fired about 100 to 125 employees for unethically availing themselves of coronavirus relief funds, according to a source familiar with the matter.
Wells Fargo & Co has fired more than 100 employees for unethically getting coronavirus relief funds, Bloomberg News reported https://www.bloomberg.com/news/articles/2020-10-14/wells-fargo-wfc-fires-more-than-100-workers-over-covid-relief-fund-abuse on Wednesday, citing a...
Wells Fargo & Co's profit plunged 57% in the third quarter, missing Wall Street's expectations as persistent costs tied to its years-old sales practices scandal continued to haunt the bank.
Wells Fargo & Co reported a 57% drop in third-quarter profit on Wednesday as the bank's loan book shrank and near-zero interest rates and higher costs hurt its bottom line.
Wells Fargo & Co has started to cut jobs at its commercial banking unit as part of larger reductions that will impact nearly all of its functions and business lines, a company spokeswoman said on Wednesday.
Wells Fargo & Co has cut 700 commercial banking jobs as part of workforce reductions that could ultimately impact "tens of thousands" of staff, Bloomberg News reported on Wednesday citing people with knowledge of the matter.
Wells Fargo & Co and data aggregator Envestnet Yodlee said on Thursday they had signed a data exchange agreement, the latest move in an ongoing tug of war between fintechs and large banks over information sharing.
Wells Fargo & Co Chief Executive Officer Charles Scharf has apologized for making insensitive remarks around race and diversity, seeking to quell a row over his references to a shortage of talent among minority groups.
Wells Fargo & Co Chief Executive Officer Charles Scharf apologized on Wednesday for "making an insensitive comment reflecting my own unconscious bias", a day after Reuters reported he had exasperated Black employees by saying the bank had trouble with diversity goals due...
Wells Fargo & Co Chief Executive Charles Scharf exasperated some Black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because there was not enough qualified minority talent, two participants told Reuters.
A U.S. bank regulator announced Monday it had fined three former executives at Wells Fargo Bank for their roles in the company's sales practices scandal.
Warren Buffett's Berkshire Hathaway Inc said on Friday it had cut its Wells Fargo & Co stake to 3.3%, further reducing what had once been a $32 billion investment in the bank.
Wells Fargo & Co agreed to pay $2.12 million in fines and restitution to settle U.S. regulatory charges its brokers failed to properly account for the costs of switching customers who owned variable annuities to new investments.
Wells Fargo & Co resumed job cuts in early August after it paused layoffs in March because of the COVID-19 pandemic, a spokeswoman said on Friday.
Wells Fargo & Co's compliance chief is leaving after two years of trying to turn around the scandal-plagued bank's internal oversight and risk management functions, the Financial Times reported on Thursday, citing people familiar with the decision.
Wells Fargo & Co said on Tuesday Mike Santomassimo would replace John Shrewsberry as chief financial officer when he retires in the fall after more than two decades at the firm.
Wells Fargo & Co said on Tuesday it has appointed Mike Santomassimo as chief financial officer to replace John Shrewsberry, who will retire after more than two decades at the bank.
Wells Fargo & Co will launch a broad cost-cutting initiative this year, executives said on Tuesday, as the bank braces for massive loan losses caused by the coronavirus pandemic and continues to work through expensive regulatory and operational problems tied to a long-running...
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