The San Francisco bank says it's making strides in regaining the trust of its customers, but winning over new ones — as evidenced by a 9% decline in retail banking profits — remains a struggle.
A profile of Dawn Fitzpatrick following her big move from UBS to Soros; a weakness to watch out for in loans made by men to men; and the preponderance of female credit union CEOs.
Earnings season kicked off with some banks capitalizing better than others on higher rates and still-low deposit costs. Banks will have to keep working on that balance as they contend with rising credit card losses, slower commercial lending and other issues.
The 110-page document offers plenty of new details about what went wrong at the megabank but may leave shareholders wanting a truly independent investigation.
A legal dispute between Wells Fargo and one of the largest bitcoin exchanges underlines persistent doubts U.S. banks have about participating in digital currency.
Bank earnings could be hurt this year as big retailers close stores and file for bankruptcy. The situation has sparked a debate about how much CRE and C&I books will suffer just as lenders were putting other commercial woes behind them.
Directors take back $75 million more from two former executives and release scathing report on bank's fake accounts scandal; UBS executive sees decade-long wait for transformation.
The San Francisco bank is trying to turn the page with a new report that mostly pins blame on executives who have either left the company or been demoted, but the report shows the misconduct went further back than previously acknowledged.
Wells Fargo, accused of ousting branch workers who struggled to reach untenable sales targets or objected to burgeoning misconduct, has rehired about 1,000 former employees as CEO Tim Sloan tries to put the scandal to rest.
