The move by the European bank regulator is a policy shift as profitability at the region's banks continues to suffer from negative rates; the German bank paid $1.1 million to win business from a senior Saudi royal.
The changes will mean a bigger gap between the best and worst borrowers; the bank will require companies they take public to have a ‘diverse’ board member.
Documents released by the Office of the Comptroller of the Currency Thursday allege that senior leaders had reason to know that the wrongdoing was widespread but failed to act.
Former CEO John Stumpf agreed to pay a $17.5 million penalty while ex-community banking chief Carrie Tolstedt faces a potentially $25 million fine for sales-practices misconduct. Other former officials could face fines totaling $16 million.
Wells Fargo's main regulator is preparing civil charges against former managers related to their roles in its retail banking scandals, people familiar with the matter said.
The Massachusetts senator and presidential contender sent a letter to eight of the biggest U.S. banks asking about how they assess climate-related risks to assets and how they plan to mitigate social and economic fallout.
Truist emphasizes high-touch, high-tech focus with new logo; Wells Fargo loses another patent lawsuit to USAA; what the Visa-Plaid merger means for banks, fintechs; and more from this week's most-read stories.
Savings for the top six U.S. banks from President Donald Trump's signature tax overhaul accelerated last year, now topping $32 billion as the lenders curbed new borrowing, pared jobs and ramped up payouts to shareholders.
Wells was ordered to pay USAA $102.8 million for infringing on its mobile deposit patents. It follows a separate lawsuit loss in November also related to patents.
