News Topic: Wells Fargo

The company has established a fund that will provide capital, technical assistance and long-term recovery support to small businesses, especially minority-owned companies. The other megabanks are expected to donate their fees, also. ... Read full article

The Wall Street firm is jumping into a market dominated by a handful of big U.S. banks, betting that superior technology can lure companies with complex cash-management needs. ... Read full article

Wells Fargo is pulling back from student lending as the surge in coronavirus cases threatens to further disrupt higher education and the broader U.S. economy. ... Read full article

Supreme Court says the president has the power to remove the director at will; the bank is the only one of the six largest U.S. banks to say they will cut their dividend next quarter. ... Read full article

Wells Fargo customers targeted with phishing attacks using calendar invites; Fed freezes stock buybacks, caps dividends after stress test results; Citigroup names Titi Cole its head of global operations and fraud prevention. ... Read full article

Titi Cole was recruited away from Wells Fargo to join Citi as head of global operations and fraud prevention. She’ll report to Jane Fraser, the CEO of global consumer banking. ... Read full article

The payments company is buying Finicity, which powers platforms for Rocket Mortgage and others; the small N.J.-based lender to fintechs is the fourth largest PPP provider. ... Read full article

The pandemic and the Black Lives Matter protests have changed the way banks interact with their customers, communities and employees. Here's how. ... Read full article

Bankers’ criticism that the expanded designation would bolster the largest credit unions is misguided. ... Read full article

Funds from a certificate of deposit at Berkshire Bank will help fuel lending to minority-owned small businesses. Mellody Hobson explains why merely ‘working on diversity’ is not good enough. And Wells Fargo ties compensation to progress on diversity ... Read full article

In a new twist on an old scam, cybercriminals have tried to get thousands of people to surrender their Wells bank account information by sending authentic-looking emails containing malicious links that lead to a fake website bearing the company's ... Read full article

In a new twist on an old scam, cybercriminals have tried to get thousands of Wells staffers to surrender their own account information by sending authentic-looking emails containing malicious links that lead to a fake website bearing the company's ... Read full article

JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's ... Read full article

Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf. ... Read full article

Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank. ... Read full article

Wells Fargo Chief Executive Officer Charlie Scharf, who vowed last month to do more to improve diversity within the firm's ranks, is tying executives' pay to their progress in doing so. ... Read full article

In letters to administration officials and large banks, the lawmakers sought details about loan recipients following reports that financial institutions had favored their wealthiest clients. ... Read full article

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out. ... Read full article