The creation of the fake accounts stemmed from the pressure placed on employees to meet daily quotas, Yeseina Guitron told Vanity Fair. Since the scandal Wells Fargo has fired more than 5,300 employees and the bank's CEO, Tim Sloan has issued an apology "to everyone who wa...
Wells Fargo (WFC) chief financial officer said efforts by states to penalize its business over an unauthorized-accounts scandal would not affect third-quarter earnings “much,” the Wall Street Journal reported, citing a recording of an internal call. John Shrewsberry was recorded as saying the ...
California's treasurer suspended some of its business with Wells Fargo following the bank's fake account scandal. The move could cost the company billions of dollars. John Blackstone reports.
LOS ANGELES -- A former Wells Fargo Bank executive accused of overseeing a ruse that created millions of bogus customer accounts has agreed to plead guilty to criminal charges likely to send her prison for her role in the scandal. The agreement filed Wednesday in a Los Angeles federal co...
U.S. banking regulators settled charges with two former top audit executives at Wells Fargo for their oversight failures during the bank’s fake accounts scandal of the 2010s, cutting the millions in fines the two men were facing by more than 90 percent. ...
Wells Fargo fines add up to $1.7 billion, along with $2 billion in consumer redress for "illegal conduct" across several business lines. The CFPB has ordered the bank to pay up.
John Maxfield
Wells Fargo fines add up to $1.7 billion, along with $2 billion in consumer redress for "illegal conduct" across several business lines. The CFPB has ordered the bank to pay up.
WASHINGTON, July 17 (Xinhua) -- Wells Fargo is preparing to shed a number of its businesses as the U.S. bank tries to restore investor confidence in the wake of the fake account scandal, Financial Times reported on Sunday. "We get a little bit smaller, a little bit less complex and ...
reason to cheer, aside from the bank's cost-cutting efforts, which I'll get to later on. In fact, unlike most other banks, many of Wells Fargo's numbers have actually gotten worse over the past year thanks to the fallout from itsfake-accounts scandaland other lingering consumer trust ...