News Topic: Wells Fargo

After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award. ... Read full article

The governors want more regulatory power as federal oversight slips; U.S. and European banks dropped sharply Monday as coronavirus-related problems multiply. ... Read full article

The banks — including JPMorgan Chase, Bank of America, Wells Fargo and Citigroup — agreed to stop buying back their own shares through the second quarter, saying they will focus on supporting clients and the nation during the coronavirus pandemic. ... Read full article

TD Bank Group's top lawyer will succeed Allen Parker at scandal-plagued Wells Fargo later this month. ... Read full article

From scams to watch out for to the role banks play in an SBA virus loan program, news about the pandemic's impact was everywhere. Also: As State Farm bows out, U.S. Bank seizes an expansion opportunity; CFPB sues Fifth Third for allegedly opening ... Read full article

Sen. Sherrod Brown of Ohio, the top Democrat on the Banking Committee, said financial institutions "need to be investing in their communities right now, not investing in their CEOs’ stock portfolios.” ... Read full article

The bank’s former chair expressed regret over comments attributed to her in a House report, while Democrats and Republicans butted heads over whether the hearing was necessary. ... Read full article

The chairwoman of the House Financial Services Committee should call on regulators to take more aggressive steps with bad banking practices, starting with Wells. ... Read full article

Leaders to parlay with president as banks worldwide offer to aid customers; Wells CEO says the bank will be run “fundamentally differently” than in the past. ... Read full article

Kathy Kraninger was grilled about whether her agency and others were doing enough to cushion consumers from the economic blow of the coronavirus crisis. ... Read full article

House Democrats maintained their criticism of the bank during Charlie Scharf's first hearing, but Republicans suggested it is on better footing now that many top leaders have been replaced. ... Read full article

The chair of the House Financial Services Committee, Maxine Waters, contends that Tim Sloan knowingly made misleading and inaccurate comments during a hearing before her panel last year. ... Read full article

The employee, who works on the 23rd floor of the bank's 555 California St. offices in San Francisco, "is at home while their health is being closely monitored by their doctor and public health authorities," a spokeswoman for the bank said. ... Read full article

Concerns about the economic fallout of coronavirus have mostly focused on supply chain disruptions. But fears are growing that weakening consumer demand could spark a recession. ... Read full article

The House Financial Services Committee is still planning to have former Wells Fargo board members Betsy Duke and James Quigley testify after announcing their resignations. ... Read full article

Elizabeth Duke and James Quigley step down from board; the bank is asking corporations to divulge their exposure and preparations as part of risk assessment. ... Read full article

The bank's board chair and fellow director James Quigley abruptly resigned early Monday. Both are scheduled to appear before the House Financial Services Committee this week. ... Read full article

The House Financial Services Committee will question two of Wells’ board members, raising public scrutiny to a new level for bank directors. ... Read full article