Wells Fargo

Daley reunites with Scharf at Wells; Capital One demotes cybersecurity chief


The two previously worked at BNY Mellon in similar roles, Scharf as CEO and Daley as head of public affairs; Michael Johnson’s demotion follows the bank’s massive data breach in July.


Wells Fargo CEO to tap Bill Daley to help repair bank's image


Chief Executive Officer Charlie Scharf plans to name Bill Daley, the former White House chief of staff, to a senior post to improve relations with authorities in Washington, according to people with knowledge of the plan.


Big-bank executives: Many businesses don't want to borrow


Top officials at Bank of America and Wells Fargo said that commercial loan demand is weak, even as U.S. consumers show strength. Their comments echo recent findings by the Federal Reserve.


Warren won't let banks escape health care debate


If elected president, Sen. Elizabeth Warren would charge large banks a fee to help pay for her Medicare-for-all plan.


Scharf signals ‘sense of urgency’ at Wells; Europe weighs new AML agency


CEO tells employees he wants them to be 'impatient' in fixing the bank’s woes; the new independent body would police banks’ compliance with AML regulations.


House bill would mandate congressional visits by big-bank CEOs


Rep. Ayanna Pressley, D-Mass., has proposed requiring annual testimony by the heads of the U.S. "global systemically important" banks.


Scharf’s first day at Wells Fargo; Zuckerberg readies to face the Hill


The new CEO is the first outsider to head the scandal-ridden bank in decades; Facebook CEO faces the House Financial Services Committee on Wednesday to discuss Libra.


House passes offshoring bill inspired by Wells Fargo layoffs


The legislation, sponsored by Rep. Cindy Axne of Iowa, aims to hold public companies accountable for moving jobs overseas. It won unanimous support from House Democrats but attracted only two votes from Republicans.


The risk lurking in banks' car loan portfolios


While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.


Why big banks keep raking in deposits


They’ve long used their marketing muscle to wrest deposit share from smaller competitors. Now, amid growing concerns that the economy is weakening, they could be benefiting from consumers’ flight to safety.