News Topic: Wells Fargo

Moore led development of Bank of America's virtual assistant, Erica, and was American Banker's Digital Banker of the Year in 2017. ... Read full article

The San Francisco-based bank will keep most employees working from home for at least a month longer than last announced. ... Read full article

Wells Fargo, reeling from years of scandals, is unloading several businesses as it seeks to simplify its structure. The sale of the asset management unit could fetch more than $3 billion, according to industry sources. ... Read full article

A group that includes the private equity firms Apollo Global Management and Blackstone Group is in talks to acquire Wells Fargo’s student loan portfolio, according to people familiar with the matter. ... Read full article

The bank will now let business customers receive and pay invoices from within online and mobile banking. ... Read full article

A number of top Wells executives privately expect it won’t be able to escape the limit on assets until late next year at the earliest, while key Fed officials see the process dragging into 2022 or beyond, according to people familiar with their thinking. ... Read full article

Warren Buffett's company has been pulling back from the scandal-ridden bank as it prepares to unveil strategic changes. ... Read full article

Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed ... Read full article

Wells Fargo is exploring selling a unit offering store-branded credit cards as the bank chooses businesses to keep or break off in a broad strategic overhaul, according to people with knowledge of the matter. ... Read full article

Wells Fargo plans to freeze raises for top earners as the bank's new leadership team retools compensation practices with a close eye on costs, according to people briefed on the plans. ... Read full article

Some banks and credit unions boarded up branches and closed early in anticipation of unrest tied to the tense presidential race. ... Read full article

Some banks and credit unions boarded up branches and closed early in anticipation of unrest tied to the tense presidential race. ... Read full article

Kleber Santos will be responsible for building a more inclusive workforce and designing products that meet the needs of a broader, more diverse range of customers. ... Read full article

The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1. ... Read full article

The bank is scaling back how it distributes research to clients, part of a push to simplify operations and lower headcount, according to people familiar with the matter. ... Read full article

Wells Fargo is exploring a sale of its corporate-trust unit that could fetch more than $1 billion and is considering whether to find a buyer for its student loan portfolio, according to people familiar with the matter. ... Read full article

Speculation is part of the reason for the growing differential in market capitalization between legacy financial institutions and upstarts. But one venture capitalist says it's "a call to action" for traditional banks to match fintechs' ... Read full article

The about-face followed a swift backlash from affected employees, who earn more than $250,000 a year, according to people with knowledge of the situation. ... Read full article