Wells Fargo

Wells Fargo buys $14B of delinquent mortgages tied to pandemic

07/13/20

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

[more]

Fintech shakeout, Main Street loan quandary, PNC diversifies leadership: Top stories of the week

07/11/20

New president of Promontory Interfinancial Network says recession will cause "hundreds" of nonbank disruptors to fail; lenders face dilemma over offering Main Street loans to noncustomers; PNC Financial expands, diversifies executive leadership team; and more from this week’s most-read stories.

[more]

Wells Fargo expands nonconforming jumbo refi loan criteria

07/10/20

However, those who aren't current bank customers need to have $1 million in a qualifying account.

[more]

Wells mulling job cuts; Supreme Court to hear Fannie, Freddie case

07/10/20

The bank is expected to report a small net profit for the second quarter next week; shareholders are challenging the government's 2012 decision to appropriate nearly all of the agencies' profits.

[more]

Wells Fargo hires Flagstar Bank's Kristy Fercho to lead home lending

07/09/20

Fercho will join Wells Fargo in August and report to Mike Weinbach, the bank's CEO of consumer lending.

[more]

Four big banks throw weight behind climate finance center

07/09/20

The new Center for Climate-Aligned Finance will help financial institutions navigate the various challenges involved in the shift to renewable energy — as lenders, power consumers and corporate citizens. Its backers include JPMorgan and Bank of America.

[more]

Here’s where Wells Fargo is donating its $400M in PPP fees

07/09/20

The company has established a fund that will provide capital, technical assistance and long-term recovery support to small businesses, especially minority-owned companies. The other megabanks are expected to donate their fees, also.

[more]

Inside Goldman’s new corporate banking portal

07/08/20

The Wall Street firm is jumping into a market dominated by a handful of big U.S. banks, betting that superior technology can lure companies with complex cash-management needs.

[more]

Wells Fargo hits brakes on student loans with schools disrupted

07/02/20

Wells Fargo is pulling back from student lending as the surge in coronavirus cases threatens to further disrupt higher education and the broader U.S. economy.

[more]

The high court's CFPB ruling; Wells to cut dividend in Q2

06/30/20

Supreme Court says the president has the power to remove the director at will; the bank is the only one of the six largest U.S. banks to say they will cut their dividend next quarter.

[more]