Penalties and fines

Banks reward front-line employees; Wells asks Fed for asset cap relief

03/23/20

BofA, JPMorgan said they are paying bonuses to branch and call center employees; the bank says removing the $1.9 trillion limit on growth will help it lend to more customers in need.

[more]

Wells Fargo cancels $15 million bonus to former CEO Tim Sloan

03/17/20

After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award.

[more]

Wells in N.Y. state of mind, coronavirus, election 2020: Top stories of the week

02/28/20

How New York became Wells Fargo's new center of power; banks walk fine line in preparing for a coronavirus outbreak in U.S.; bankers on Bernie's electoral chances and whether a Sanders presidency would pose a threat; and more from this week's most-read stories.

[more]

Wells pays another fine; bank stocks keep falling

02/28/20

The bank agreed to pay $35 million to settle SEC charges it recommended high-risk ETFs to some customers; coronavirus fears continue to batter financial shares.

[more]

Wells Fargo nears $3 billion deal to end federal probes

02/21/20

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.

[more]

Wells may be poised to settle; Dissecting Morgan Stanley, E-Trade deal

02/21/20

The bank could announce as early as Friday a deal on charges it wronged customers; the acquisition allows Morgan Stanley to compete in retail banking.

[more]

FICO gets tougher on credit scores; Goldman pushes diversity

01/24/20

The changes will mean a bigger gap between the best and worst borrowers; the bank will require companies they take public to have a ‘diverse’ board member.

[more]

Behind Wells Fargo's ploy to pin sales misconduct on 1% of employees

01/23/20

Documents released by the Office of the Comptroller of the Currency Thursday allege that senior leaders had reason to know that the wrongdoing was widespread but failed to act.

[more]

OCC drops hammer on Stumpf, seven other ex-Wells Fargo execs

01/23/20

Former CEO John Stumpf agreed to pay a $17.5 million penalty while ex-community banking chief Carrie Tolstedt faces a potentially $25 million fine for sales-practices misconduct. Other former officials could face fines totaling $16 million.

[more]

Goldman in settlement talks with DOJ; Congress members ask JPM about equality

12/20/19

The bank could pay about $2 billion to close the 1MDB case in the U.S.; in letters lawmakers ask Dimon about policies to combat racism.

[more]