Corporate governance

No shortage of challenges facing Wells Fargo’s new CEO


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.


Gender pay gap is 'a challenge we need to tackle together'


Citigroup has set measurable goals for increasing representation of women and U.S. minorities in senior, higher-paying roles and CEO Michael Corbat is urging other financial firms to follow suit.


CFPB says Chicago debt collector made bogus threats against consumers


Asset Recovery Associates told borrowers that it could sue them, garnish their wages and place liens against their homes, according to a consent order by the consumer bureau.


Former FDIC chair joins Fannie Mae's board


Sheila Bair, who holds board seats at several other organizations, will sit on Fannie's compensation, corporate governance and risk policy committees.


As Wells Fargo seeks new CEO, toll on stock hits $24 billion


Analysts and big investors say they cannot advocate buying more shares until the bank installs a leader with the authority to lay out a plan for the future. However, speculation about potential candidates has quieted.


'There will be accidents ... in the cloud,' ECB warns


A senior official at the European Central Bank warned that banks embracing external data storage and other digital technology need to face the reality that those systems are inviting targets for hackers.


Big banks need more diversity in leadership ranks: House Democrats


With women and minorities holding less than 25% of top positions at the eight largest U.S. banks, House Financial Services Committee Chairwoman Maxine Waters and other Democrats called on banks to improve their recruiting efforts and invest in programs aimed at building pipelines of diverse talent.


Former N.Y. superintendent Vullo joins Emigrant Bank board


Maria Vullo served for three years as New York's top banking regulator.


Wells Fargo still in talks with BofA's Cathy Bessant as its options narrow


Other executives are being considered, too, but the list is dwindling as JPMorgan’s Gordon Smith and other big names are said to be out of the running. Meanwhile, senior Wells executives have pushed to keep interim CEO Allen Parker.


Eagle in Md. adds former Wells executive to board


Theresa LaPlaca, one of four new directors at the company, ran an office Wells formed to address issues tied to its sales and reporting practices.