Wells Fargo

Berkshire Hathaway sells another piece of its Wells Fargo stake

11/16/20

Warren Buffett's company has been pulling back from the scandal-ridden bank as it prepares to unveil strategic changes.

[more]

SEC charges ex-Wells Fargo execs with misleading investors

11/13/20

Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed fraud.

[more]

Wells Fargo explores selling private-label card unit

11/12/20

Wells Fargo is exploring selling a unit offering store-branded credit cards as the bank chooses businesses to keep or break off in a broad strategic overhaul, according to people with knowledge of the matter.

[more]

Wells Fargo to freeze raises for high earners as it limits costs

11/05/20

Wells Fargo plans to freeze raises for top earners as the bank's new leadership team retools compensation practices with a close eye on costs, according to people briefed on the plans.

[more]

Fearing protests, financial firms batten down on Election Day

11/03/20

Some banks and credit unions boarded up branches and closed early in anticipation of unrest tied to the tense presidential race.

[more]

Fearing protests, banks batten down on Election Day

11/03/20

Some banks and credit unions boarded up branches and closed early in anticipation of unrest tied to the tense presidential race.

[more]

Wells Fargo taps Capital One executive to lead diversity efforts

11/02/20

Kleber Santos will be responsible for building a more inclusive workforce and designing products that meet the needs of a broader, more diverse range of customers.

[more]

Big banks have benefited under Trump. Their employees give more to Biden.

10/29/20

The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1.

[more]

Wells Fargo cuts dozens of fixed-income research analysts

10/28/20

The bank is scaling back how it distributes research to clients, part of a push to simplify operations and lower headcount, according to people familiar with the matter.

[more]

Wells Fargo exploring $1 billion-plus corporate-trust sale

10/26/20

Wells Fargo is exploring a sale of its corporate-trust unit that could fetch more than $1 billion and is considering whether to find a buyer for its student loan portfolio, according to people familiar with the matter.

[more]