Wells Fargo

A purpose-driven CD and other ideas for advancing economic justice and diversity

06/22/20

Funds from a certificate of deposit at Berkshire Bank will help fuel lending to minority-owned small businesses. Mellody Hobson explains why merely ‘working on diversity’ is not good enough. And Wells Fargo ties compensation to progress on diversity targets.

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Wells Fargo employees targeted with phishing attack using calendar invites

06/22/20

In a new twist on an old scam, cybercriminals have tried to get thousands of Wells staffers to surrender their own account information by sending authentic-looking emails containing malicious links that lead to a fake website bearing the company's name.

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Wells Fargo customers targeted with phishing attacks using calendar invites

06/22/20

In a new twist on an old scam, cybercriminals have tried to get thousands of people to surrender their Wells bank account information by sending authentic-looking emails containing malicious links that lead to a fake website bearing the company's name.

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Juneteenth, OCC targeting ex-Wells execs, deposit glut: Top stories of the week

06/19/20

JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's most-read stories.

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Wells Fargo hires another JPMorgan alum to head wealth management

06/17/20

Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf.

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Inside OCC's effort to extract $37.5M from former Wells Fargo execs

06/17/20

Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank.

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Wells Fargo ties senior executive pay to improving diversity

06/16/20

Wells Fargo Chief Executive Officer Charlie Scharf, who vowed last month to do more to improve diversity within the firm's ranks, is tying executives' pay to their progress in doing so.

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House Democrats call for more transparency in allocation of PPP funds

06/15/20

In letters to administration officials and large banks, the lawmakers sought details about loan recipients following reports that financial institutions had favored their wealthiest clients.

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How long will banks have to keep padding loan-loss reserves?

06/11/20

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

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Problem for reopening branches: Does Google know when you’re open?

06/09/20

Customers are turning to search engines and business portals to find out if their bank is open before checking the bank’s own website. Maintaining accurate information across the web has become even more important during the pandemic.

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