Wells Fargo

The executive tasked with rebuilding trust in the retail bank discusses how employees reacted to its new incentive pay plan, why Wells stopped calling its branches "stores," how it now prevents salespeople from impersonating customers, and more.

Investors concerned about the impact on banking of climate change, the pay gap and ethics matters are pushing back against a coalition of the heads of the biggest U.S. banks and other public companies that wants to limit small investors’ access to proxy ballots.

Wells Fargo engaged in an "extensive and pervasive pattern" of discriminatory and illegal lending practices for years, the OCC said in slashing a key rating of how the bank serves communities.

Proposals to split the chairman and CEO roles at banks have rarely succeeded. But new developments — including a proposal to require separate roles for the next generation of managers — are helping concerned shareholders slowly make inroads.

With a "needs to improve" rating, Wells Fargo is now subject to a wide range of regulatory restrictions on things like branch openings and M&A.