Investors worry the drop in crude prices could spark a rash of defaults; the bank denies it opened accounts without customer permission to meet sales quotas. ... 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 Supreme Court will hear arguments on the agency’s structure; the company, desperate after losing Costco’s business, allegedly pressured and misled applicants. ... Read full article
Wall Street banks make plans to keep workers in Tokyo safe; the employees are bringing their grievances against the bank to Capitol Hill. ... Read full article
Under CEO Charlie Scharf, the bank that has historically viewed itself as more Main Street than Wall Street is becoming deeply embedded in the nation’s financial capital and its hard-charging culture. ... Read full article
The ten-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership. ... Read full article
A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions. ... Read full article
Wells Fargo & Co. is poised to pay roughly $3 billion to settle federal investigations into a range of consumer abuses that were rampant at the bank for years, according to a person with direct knowledge of the matter. ... Read full article
A Denver company says that the $410 billion-asset bank used its confidential information to create a copycat product and poach its customers. PNC is contesting the allegations. ... Read full article
For the second time in four years regulators are investigating Jes Staley; fintechs have until July 30 to sign agreements on how they access customer data. ... Read full article
Michael Cleary will report to Scott Powell, who had been his boss at Santander Bank. ... Read full article
The bank’s former Asia investment banking co-chief is its third executive to be so punished; the agency says Telegram’s digital coin is a security. ... Read full article
The bank would make small-business loans on the online retailer’s platform; Fed survey says banks worry about increasing delinquencies, especially in subprime. ... Read full article
The American Bankers Association said it’s offering a new online course because of increased demand by members for training tailored to banking. ... Read full article
Critics of the OCC have long maintained that the agency was too close with the San Francisco bank. A watchdog's assessment of what transpired between 2009 and 2017 is expected to be completed late this spring. ... Read full article
The regulators plan to drop the 3% limit on bank investments in venture capital funds; Visa invests in another fintech startup. ... Read full article
Stephen Calk and the bank where he formerly served as CEO are both arguing that his bribery trial should be held in Illinois. Prosecutors oppose the move. ... Read full article
Travelex unable to deliver cash to major banks following a New Year’s Eve cyberattack; Rep. Katie Porter says the bank is undermining purpose of its punishment. ... Read full article
Several former high-level Wells Fargo executives are under criminal investigation in connection with the bank's fake-account scandal and could be indicted as soon as this month. ... Read full article
Two former officials were sentenced to five years each for falsifying travel expenses and lying to authorities. ... Read full article
