The bank’s former chair expressed regret over comments attributed to her in a House report, while Democrats and Republicans butted heads over whether the hearing was necessary. ... Read full article
The House Financial Services Committee is still planning to have former Wells Fargo board members Betsy Duke and James Quigley testify after announcing their resignations. ... Read full article
The bank's board chair and fellow director James Quigley abruptly resigned early Monday. Both are scheduled to appear before the House Financial Services Committee this week. ... Read full article
The House Financial Services Committee will question two of Wells’ board members, raising public scrutiny to a new level for bank directors. ... Read full article
The bank said it was Sloan's decision to retire, but a new report from House Democrats reveals that Fed and OCC officials made moves behind the scenes in 2018 and 2019 to pressure the bank's board to remove him. ... Read full article
The bank's announcement comes a week before CEO Charlie Scharf and two board members will testify on Capitol Hill. ... Read full article
Charlie Scharf’s most immediate priorities will be mending fences with regulators and getting the bank out from under a Fed-imposed asset cap. But he also must come up with strategies for spurring revenue growth and reining in expenses. ... Read full article
With several top candidates reportedly turning down the job, some insiders are reportedly lobbying the board to appoint C. Allen Parker as the bank's next CEO. ... Read full article
A federal judge has given preliminary approval to the proposed settlement of a lawsuit under which insurance companies have agreed to pay $240 million for losses the San Francisco bank incurred from the widespread opening of fake accounts. ... Read full article
Finding a leader who has all the key attributes — and actually wants the job — may prove challenging, but here are some intriguing possibilities. ... Read full article
Tim Sloan couldn't hang on any longer. Here are insights about why he left now, what role policymakers played in the decision and will continue to have in the company's future, and who in the world would want to lead Wells Fargo. ... Read full article
The settlement would mark a rare instance where the bank stands to benefit monetarily from a scandal that has severely damaged its reputation and cost it hundreds of millions in penalties. ... Read full article
The comments by Tim Sloan, 58, came after reports that the Wells board may be looking to replace him. ... Read full article
In response to a news report, Betsy Duke said Thursday that the board has not reached out to potential CEO candidates. ... Read full article
The New York Post reported Wednesday that Wells Fargo board members met with Trump White House alum Gary Cohn about becoming the bank's next CEO, but were rebuffed. Here's what to conclude from the article. ... Read full article
Senior leaders may say that they want to hear bad news, but that doesn’t mean lower-level employees are eager to share it with them. ... Read full article
At a conference on corporate culture, Wells Fargo’s board chair explained why problems tend to fester longer at larger institutions. ... Read full article
CEO Tim Sloan and board chair Elizabeth Duke fielded tough questions Tuesday on everything from the embattled bank’s culture to its ties to the private prison industry. ... Read full article
The $1.9 trillion-asset bank has been facing pressure to shake up a board that failed to head off a reputation-scarring scandal. ... Read full article
Sanger is out at Wells Fargo and so it is a crisis that gives us our first female board chair at a major U.S. bank. Women lead two major tech initiatives at JPMorgan Chase, which is also adding a fourth woman to its executive committee. ... Read full article
