News Topic: Wells Fargo

Record originations on "better-yielding" used-car loans helped drive a 14% increase in its first-quarter profit. But Ally's shares were down Thursday on concerns of rising deposit costs. ... Read full article

The most satisfied customers are those who frequently use online or mobile banking, but still visit branches two or three times a month, J.D. Power said in its annual Retail Banking Satisfaction Study. ... Read full article

All 12 directors win nearly 90% of the vote, as does long-time auditor KPMG; Mulvaney says records haven’t been vetted by the agency and shouldn’t be released. ... Read full article

CEO Tim Sloan and board chair Elizabeth Duke fielded tough questions Tuesday on everything from the embattled bank’s culture to its ties to the private prison industry. ... Read full article

No individuals have been named in connection with the bank’s recent misdeeds, which resulted in a $1 billion fine, even as some senior leaders stand to gain from the government’s tax cut. ... Read full article

John Chiang says the bank “reeks of betrayal” a day before the bank’s annual meeting; the former chair of the CFTC has doubts about cryptocurrencies. ... Read full article

The bank faces June 15 AML compliance deadline; the features that make Zelle popular with customers entice thieves. ... Read full article

The issues at Wells Fargo extend beyond the fines; Ally Financial's auto finance chief departs; ICBA chief Cam Fine signs off; and more from this week's most-read stories. ... Read full article

The costly order against Wells Fargo contains both unexpected good news for the bank and more potential problems for its CEO. ... Read full article

Several banks have reported digital service outages this year, but now there’s a detailed breakdown of one of them — and it shows that the damage goes far beyond reputation. ... Read full article

The bank’s latest punishment would settle charges by the CFPB and the OCC; Staley did not act without integrity in trying to unmask a whistleblower. ... Read full article

Months after President Trump vowed that Wells Fargo would pay a severe penalty, the CFPB and OCC hit the bank with a $1 billion fine to settle claims it overcharged customers for auto insurance and home loans. ... Read full article

The latest fine from regulators is expected to be leveled against the bank as early as Friday. But it's far from the only penalty it has paid in recent years, and more may be on the way. ... Read full article

The CFPB and OCC are expected to assess a $1 billion fine against Wells Fargo for allegedly overcharging customers for auto insurance and home loans. ... Read full article

The bank revealed Friday that it is facing hefty regulatory penalties and will likely have to restate first-quarter earnings. Declines in loan balances and fee income and questions about upcoming stress tests are only adding to investors' worries. ... Read full article

Bankers hoped the tax overhaul would stimulate a boom in business borrowing, but several said this week that hasn’t happened yet. PNC’s Bill Demchak warned that the tax cuts could be encouraging lenders to underprice loans. ... Read full article

Banks should rethink even existing services, such as the branch experience, said top executives at the Oracle Industry Connect conference. ... Read full article

The firm warned Friday that it may take a charge of as much as $1 billion to settle a U.S. probe of its consumer business. ... Read full article