A new probe into Wells Fargo’s sales practices reports that thousands of small businesses were impacted in the account fraud. BY HELENA BALL, EDITORIAL ASSISTANT, INC.COM @HELEMBALL OCT 5, 2016 Getty Images Thousands of small business owners were reportedly impacted by the improper sales pract...
Wells Fargo recently revealed that new checking account openings have dropped by 43% year-on-year and new credit card applications have plunged by an even greater amount – 55%. According to some observers, dealing with the fallout from this scandal represents perhaps the biggest challenge the ba...
Wells Fargo, the bank that lost two CEOs while dealing with the fallout from a fake-accounts scandal, has appointed former Visa chief Charles Scharf as its top executive. Scharf, who landed a job under Jamie Dimon –now the CEO of JPMorgan Chase – by sending him a resume through family...
Wells remains under a consent order from the Federal Reserve, which in 2018 imposed a cap on the bank’s assets, limiting its growth, after its fake-accounts scandal. Shares of Wells were among the worst performers in the S&P 500 on Thursday. They dropped 4% as the S&P 500 rose 0.8%...
Wells Fargo still operates under a $1.95 trillion asset cap that prevents it from growing until regulators deem it has fixed problems from a fake accounts scandal. It still has eight open consent orders. While the bank has not revealed its technology budgets, some of its larger peers such as...
” While that’s undoubtedly true based on the dollar figures involved, academics say the scandal’s legacy likely will be more complicated than relatively straightforward frauds like Bernie Madoff’s infamous Ponzi scheme or the crimes committed by Elizabeth Holmes at her blood-testing company, ...
The New York City off-Broadway premiere of a wickedly smart, critically acclaimed, inspired-by-a-true-story comic spy thriller Our Man in Santiago. In this new political farce by two-time Emmy nominee and WGA award-winner Mark Wilding (Grey’s Anatomy, Scandal, Good Girls, Charmed), the ...
He had stepped down as Wells Fargo’s CFO in 2020 after six years in the role, and stayed on at the bank through the following spring. Most of his tenure overlapped the bank’s fake accounts scandal, and he was among the few top executives to stay in his position through that period....
(AI) space and demand for its server systems has surged. Super Micro Computer’s revenues have more than doubled in 2024 and the consensus estimates see another additional 80% increase potentially. With that said, Super Micro Computer has been plagued by an accounting scandal and potential ...
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