The disclosure of a key part of Wells Fargo's exam rating is fueling speculation that further regulatory action may soon be taken against the megabank and raising renewed questions about its regulator's oversight.
A key part of Well Fargo's Camels score was reduced, reflecting concerns about its management; Morgan Stanley, Deutsche Bank join the list of banks taking writedowns for deferred-tax assets.
Consumer Financial Protection Bureau complaints dropped last year for most of the big banks, including Wells Fargo, though they rose sharply at Capital One.
Banks have been in full cost-cutting mode in recent years, but with profits expected to increase substantially as a result of tax reform, all analysts and investors want to know is how they plan to spend their tax savings.
The Consumer Financial Protection Bureau dominated three of the top most read stories of last year, while Ripple upstart seized two. Other highlights included our annual Women in Banking package, the aftermath of the Equifax data breach and news of Amazon's possible banking plans.
Increases in charitable donations will be more important than ever for bank reputations, as tax breaks and a lighter touch from financial regulators rekindle public anger about the financial crisis.
Was the president’s recent tweet about enforcement measures against Wells Fargo an articulation of the administration’s approach for holding banks and executives accountable? Or is a tweet just a tweet?
The seven-member council, formed in the wake of the fake-accounts scandal, will advise Wells on social issues, such as diversity, environmental sustainability and the needs of underserved communities.
