Bank removes perks for eight top executives as repercussions from fake accounts scandal continue; former tech executives leave world's biggest hedge fund after short tenures.
The San Francisco bank also disclosed Wednesday that certain foreign banks that were using its software to conduct trade-related transactions in violation of U.S. sanctions.
J.D. Power was so puzzled upon surveying customer attitudes about bank sales practices after the Wells Fargo debacle that it delayed its report and re-interviewed respondents. Here was the (sort of) explanation.
The embattled bank said that the decision to withhold 2016 bonuses for CEO Tim Sloan and seven other executives was not based on any findings of improper behavior.
The insurance company, facing regulatory scrutiny and lawsuits over a former sales relationship with Wells Fargo, said it may press its partner to cover costs after halting the sales.
Four retail managers are the first senior employees let go by the bank for their roles in the phony accounts scandal; federal court rules against investors in GSE suit.
When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.
