News Topic: Wells Fargo

Wells Fargo is extending a 6-year-old fight with a whistleblower, despite a government order to immediately reinstate the former employee. ... Read full article

Equifax observed an increasingly well-worn ritual of scandal-ridden firms by jettisoning CEO Richard Smith: apologize, promise to do better in the future, and sacrifice your top executive in the hopes it will ward off action by Congress and regulators. ... Read full article

A year ago, then-Wells CEO John Stumpf testified before two committees. It went so poorly Stumpf later resigned and his bank is still struggling to repair the damage. Here's how Equifax CEO Richard Smith can avoid the same fate. ... Read full article

Democrats have striven to paint recent scandals at Wells Fargo and Equifax as prime examples of why a regulatory rule banning mandatory arbitration agreements should be upheld, but Republicans are not wavering on their desire to overturn it. ... Read full article

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired. ... Read full article

Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely. ... Read full article

An internal CFPB memo says it was considering a $10 billion fine before settling on $100 million; state suit against credit bureau is likely to be the first of many. ... Read full article

Without the Consumer Financial Protection Bureau's expanding consumers' legal options, they will continue to be vulnerable to the abusive practices that have proliferated throughout the financial industry in recent years. ... Read full article

Tim Sloan told investors Tuesday that Wells could uncover more examples of financial harm to its customers as part of its ongoing review of its sales practices. ... Read full article

Credit bureau says records of 143 million consumers were compromised; state agency penalizes Habib Bank for enabling terror financing. ... Read full article

Serving on multiple boards while holding full-time executive positions weakens a director’s ability to fulfill the governance demands at complex institutions. ... Read full article

One year after the San Francisco megabank paid $190 million in fines and restitution after it opened millions of unauthorized accounts, Wells remains mired in scandal. Why hasn't the firm been able to recover? ... Read full article

The portfolio of conforming loans is currently being subserviced by Nationstar Mortgage Holdings on behalf of Seneca Mortgage Investments. ... Read full article

Senate Banking Committee Chairman Sen. Mike Crapo, R-Idaho, said he is considering holding another hearing on Wells Fargo following the bank's recent missteps. ... Read full article

As part of a $35.5 million settlement with black financial advisers, Wells Fargo agreed to take non-financial measures to create a more fair workplace. ... Read full article

The ICBA is calling on regulators to remove Wells Fargo board members and senior management after a series of scandals have plagued the bank. ... Read full article

Husband and wife claim they were fired for raising concerns about the bank’s sales practices; commercial mortgage-backed securities on pace to top last year’s volume. ... Read full article

Bank undercounted fake accounts and says it also opened more than 500,000 bill-pay accounts; CFPB director provides “no further insights” on his future. ... Read full article