News Topic: Wells Fargo

A CFPB report revealed that the fees charged to college students by Wells Fargo for financial products are three times higher than average. Sen. Warren wants to know why. ... Read full article

Sen. Elizabeth Warren questioned the five largest U.S. retail banks in a letter on what they are doing to reduce the impact of the government shutdown on customers. ... Read full article

The deal, valued near $22 billion, will combine two of the financial services industry's largest tech and processing firms; both banks top expectations. ... Read full article

Now that Wells must abide by the central bank's asset cap through year-end, it may have to divest more nonessential assets and take other steps to open up room for core loan growth. ... Read full article

Wells Fargo & Co. is planning to operate under a Federal Reserve asset cap through the end of 2019, rather than just the first half of the year, as it takes longer than anticipated to correct issues in its consumer business. ... Read full article

Revenue slumped 5% in the fourth quarter, the third drop in the past year and a bigger one than analysts had expected. ... Read full article

The bank missed expectations although profit rose 67%; with the California Democrat leading the House Financial Services Committee, deregulation could slow. ... Read full article

Saul Van Beurden will have oversight of both technology and information security and will report to CEO Tim Sloan. ... Read full article

4.5% rates could trigger more homebuying and refinances; Sherborne Investors wants a seat on the bank’s board so it can facilitate change. ... Read full article

CEOs on the hot seat. Banks fighting to stay independent. Comfortable players ripe for disruption from Amazon and others. It is shaping up as a riveting year. ... Read full article

Senator Elizabeth Warren’s first trip to Iowa as a likely presidential candidate highlighted her fiery anti-Wall Street populism. ... Read full article

Linda Lacewell replaces Maria Vullo as New York’s chief financial regulator; the Swiss bank is reportedly talking to Christian Meissner about a senior role. ... Read full article

Two trends — competition from challenger banks and the emergence of real-time payments — threaten to eat away at the fees banks collect on overdrafts and bounced checks. ... Read full article

Several fintechs are testing apps that let customers gain more say over how third parties use their data — and hope to one day be able to give them the power to revoke access to it entirely. ... Read full article

The year saw anxiety over how banks would respond to record consumer debt, disruptive glitches at TD Bank and SunTrust, ongoing scandal at Wells Fargo, and much, much more. ... Read full article

The cost of Wells Fargo's scandals continues to rise as regulators from all 50 states forced the institution to pay hundreds of millions in penalties for the creation of fake accounts, improper enrollment in life insurance, force-placed auto insurance ... Read full article

It was a year to remember for women executives at SunTrust and Amex’s new CEO, and one to forget for Wells Fargo and investors in bank stocks. ... Read full article

Treasury Secretary Steven Mnuchin called top executives from the six largest U.S. banks over the weekend, he said Sunday on Twitter, a move that followed heavy losses in the stock market last week and a partial federal government shutdown. ... Read full article