WASHINGTON, Feb. 21 (Xinhua) -- Wells Fargo, one of the leading U.S. banks, has agreed to pay 3 billion U.S. dollars to settle criminal and civil investigations with the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) over its fake accounts scandal,...
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 w...
Taking a comprehensive view of the 2016 Wells Fargo "fake accounts" scandal, the authors detail the bank's legal, ethical, management, and social responsibility transgressions. Civil and criminal charges are explored鈥攕ome of which have been settled. Ethical and immoral aspects are examined in ...
Billionaire investorWarren Buffetttold CNBC on Monday that Wells Fargo's reputation has been hurt by the fake account sales scandal. "[But] the fundamental earnings power of the bank over a period of years has not been hurt in any material way," Buffett said on"Squawk Box,"two days after ...
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’s independent directors are punishing two top executives after the bank’s scandal over sales practices. Chairman and CEO John Stumpf is forfeiting $41 million dollars in stock awards and will forgo his salary during the investigation. Former executive Carrie Tolstedt, who oversa...
Wells Fargo has been the subject of a series of lending scandals, including: The mistreatment of its auto loans and mortgage consumers. In April 2018, theConsumer Financial Protection Bureau(CFPB) and theOffice of the Comptroller of the Currencyfined Wells Fargo $1 billion after the scandal came...
when Mr Sloan’s predecessor, John Stumpf,was put through the wringer. With his right hand heavily bandaged — horseplay with his grandchildren, was the explanation — Mr Stumpf was lambasted for his failure to stop the huge fake-account scandal that escalated on his watch. He resigned a cou...
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 c...
"Higher costs related to cash-out conforming refinances compared with rate-term refinances are tied primarily to pricing driven by the Government Sponsored Enterprises, which we don’t control. We look forward to presenting the facts of this situation, which reflect Wells Fargo's ...