Wells Fargo

What Wells Fargo’s exit from student lending means for competitors

10/22/20

With the sector facing serious headwinds — from declining enrollment during the pandemic to the prospect of a Biden administration making college free for many families — the departure of a major player could be a shot in the arm for the likes of Discover and Sallie Mae.

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Buffett inches toward Wells Fargo exit as Scharf sets course

10/16/20

Warren Buffett isn't known to ask much of companies in which he buys stock. Then last year, as Wells Fargo's top investor, he publicly advised the board not to hire a leader from Wall Street — and it did. What ensued shows what can happen when a company rejects the legendary investor's advice.

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Wells Fargo fires more than 100 workers for abusing U.S. aid

10/15/20

Wells Fargo fired more than 100 employees suspected of improperly collecting coronavirus relief funds, according to a person with knowledge of the situation.

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Wells Fargo faces growing pressure to slash costs

10/14/20

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

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Top U.S. banks see long road ahead for return-to-office plans

10/14/20

Four of the nation's largest banks updated their progress in recent days on return-to-office plans. The takeaway: Most workers won't be back anytime soon.

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Wells Fargo profit slumps on severance and remediation charges

10/14/20

The company posted a surprise increase in third-quarter expenses as it set aside almost $1 billion for customer remediation and $718 million in restructuring charges.

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Wells Fargo eliminates more than 700 jobs in commercial banking

10/07/20

Wells Fargo cut more than 700 commercial banking jobs as it embarks on workforce reductions that could ultimately number in the tens of thousands, according to people with knowledge of the matter.

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PPP forgiveness, mainframes still mainstream, Marcus's future: Top stories of the week

10/02/20

House forgiveness plan for Paycheck Protection Program loans is better than nothing, bankers say; why some banks still lean on mainframes; what's next for Goldman Sachs's Marcus; and more from this week's most-read stories.

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USAA sues PNC over mobile check deposit technology

10/02/20

The lawsuit follows two successful USAA suits against Wells Fargo that claimed infringement of patents.

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Fed’s Wells Fargo review should consider forbearance snafu: Warren

10/01/20

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

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