News Topic: Wells Fargo

The San Francisco bank is moving two executives into new positions who will report to consumer banking head Mary Mack. ... Read full article

“It wouldn't be unusual” for the Federal Reserve to work alongside private-sector operators in the creation of a U.S. real-time payments system, its chairman said. ... Read full article

Building off the popularity of its personal financial management tool, HelloWallet, the Cleveland bank is now offering in-person financial checkups as a way to deepen customer relationships. ... Read full article

The eight "systemically important" banks currently file resolution plans annually, but a pending proposal would require them every two years. ... Read full article

Lenders have learned that automated wealth management tools enhance financial advisers' interaction with clients and can bring in more business. ... Read full article

The claim of alleged discrimination over immigration status is the latest legal headache for Wells Fargo. ... Read full article

The bank has been slashing expenses, but executives acknowledged they remain high. Between having to hire thousands of compliance employees and waiting on the next CEO to be named, investments in new technology or other long-term growth are limited. ... Read full article

The interim CEO told analysts Tuesday that the company remains committed to hiring an outsider who isn't connected to its scandals of recent years. ... Read full article

The bank's net interest income fell to its lowest point in three years, and total revenue fell short of analysts' expectations. ... Read full article

Other executives are being considered, too, but the list is dwindling as JPMorgan’s Gordon Smith and other big names are said to be out of the running. Meanwhile, senior Wells executives have pushed to keep interim CEO Allen Parker. ... Read full article

Loans to other financial firms have soared in recent years, and many are going to private equity or business development firms that then use the funds to make leveraged loans. Should regulators be worried? ... Read full article

Theresa LaPlaca, one of four new directors at the company, ran an office Wells formed to address issues tied to its sales and reporting practices. ... Read full article

Some large banks, including Bank of America and JPMorgan Chase, will increase dividends and stock repurchases by double digits. ... Read full article

In a year where most of the 18 institutions taking the second round of the Federal Reserve's stress tests showed improvements over last year, JPMorgan Chase and Capital One were both forced to adjust their capital plans in order to meet the central ... Read full article

The decision follows similar moves by rivals JPMorgan Chase and Wells Fargo. ... Read full article

Brad Goedken wants agreements for HarborOne Bancorp to include better protections, such as cost reductions if a service fails. ... Read full article

Facebook's plans to launch its Libra cryptocurrency dominated much of the discussion at American Banker's Digital Banking conference last week, but attendees also debated what big tech company might strike next and what future digital innovations ... Read full article

A new set of tougher scenarios did little to keep large banks from passing the most recent stress tests mandated by the Dodd-Frank Act. ... Read full article