There are outstanding questions about whether Elizabeth Duke, who has been on Wells Fargo's board since January 2015, is the right person to lead a culture change at a large bank mired in scandals and investigations.
As expected, the bank elevates its vice chairman, former Federal Reserve Governor Elizabeth Duke, to the top spot; credit card delinquency rates rise along with balances.
The Consumer Financial Data Rights group, representing aggregators and fintechs, says banks still aren’t forking over enough customer data. The group is meeting with bank regulators and trying to get consumers to petition regulators on its behalf.
Warren Buffett’s firm buys big stake in retail credit card issuer while dumping shares in its former parent, GE; long-awaited update speeds transactions in the digital currency network.
The mishandling of the two former employees’ complaints, detailed in documents and by former OSHA officials, raises questions about the government’s treatment of whistleblowers throughout the financial services industry.
The $2.6 trillion-asset bank's recent commitment to digital lending augurs the development of a two-tier market for borrowers who want fast access to cash.
Stephen Sanger is expected to leave as nonexecutive chairman; Barry Rodrigues, a former Citigroup and American Express executive, will join the British bank in November.
Chairman Stephen Sanger could step down ahead of the embattled bank's next annual meeting, according to a news report, clearing the way for the elevation of Duke, the current vice chairman and a former Fed governor and banking executive.
