News Topic: Wells Fargo

Intense scrutiny from poker-faced CEO Charlie Scharf is prompting executives at the bank to ponder their units’ strategies — as well as what’s in store for their own careers. ... Read full article

The bank could pay about $2 billion to close the 1MDB case in the U.S.; in letters lawmakers ask Dimon about policies to combat racism. ... Read full article

House Financial Services Committee Chairwoman Maxine Waters said oversight of the bank will be a focus for the panel next year. ... Read full article

Charles Peck, the head of public finance, is temporarily joining the leadership of the public affairs team. ... Read full article

Banks and public advocacy groups agree that the Community Reinvestment Act needs to change. But is the latest proposal moving in the right direction? ... Read full article

The Federal Reserve and Federal Deposit Insurance Corp. found issues with the firms' ability to compile data on how they would be unwound during a period of financial stress. ... Read full article

Without admitting wrongdoing, the bank has agreed to contribute $10 million to city programs promoting home ownership for low- and moderate-income residents. ... Read full article

Muneera Carr, who will become the San Francisco bank's controller on Jan. 6, is the newest addition to a team being assembled by CEO Charlie Scharf. ... Read full article

TD Bank claimed the top spot in J.D. Power’s national bank satisfaction survey, but Wells Fargo showed the greatest year-over-year improvement. ... Read full article

The average price of a previously owned car has fallen in two consecutive months, and if the trend continues, lenders could see losses mount, Richard Fairbank said this week. ... Read full article

Businesses need to shift focus away from millennials and toward the next age group, which is expected to be so demanding that business processes will have to be overhauled, says Julia Carreon, the bank's managing director of digital and fiduciary ... Read full article

Citizens Bank's Bruce Van Saun is our Banker of the Year; shake-up continues at Wells Fargo with poaching of Santander's CEO; the Navy commander behind the credit union banks love to hate; and more from this week's most-read stories. ... Read full article

CEO Charlie Scharf said in a letter to Congress that a review is underway to determine how many customers were affected by confusion over monthly fees and that the bank will begin issuing refunds next year. ... Read full article

The number of fintech startups has declined rapidly; several banks are using customer data to help customize retail offers. ... Read full article

Scott Powell, who resolved numerous regulatory problems as the head of the Spanish bank's U.S. operations, will face similar challenges at scandal-plagued Wells. As the bank's chief operating officer, Powell will report to CEO Charles Scharf, a ... Read full article

USAA won $200M from Wells Fargo in patent fight — will others be on the hook?; three takeaways from regulators' approval of the BB&T-SunTrust merger; don't believe the doom and gloom on Fannie, Freddie; and more from this week's ... Read full article

One-time expenses at a handful of large banks marred an otherwise solid quarter, while higher charge-offs point to possible credit-quality concerns. ... Read full article

Profits dipped 7% from a year earlier but banks still earned nearly $60 billion, the agency said in its Quarterly Banking Profile. ... Read full article