Wells Fargo Still Plagued By Scandals This is a modal window. No compatible source was found for this media.
"Wells Fargo's rinse-repeat cycle of violating the law has harmed millions of American families," CFPB director said. Dec 20, 2022 Wells Fargo accused of union busting as workers organize Some employees at the fourth-largest U.S. bank say a union would prevent repeated scandals that hav...
Buffett acknowledges Wells Fargo's 'cardinal sin' Wells Fargo's earnings keep getting dinged by a laundry list of scandals. Profit, loans, deposits and revenue all shrank last quarter, Wells Fargo (WFC) said on Friday. One thing that is going up is expenses. Wells Fargo said operating ...
Wells Fargo, which has spent years trying to rehabilitate itself after a series of scandals tied to its sales practices, will pay a $1.7 billion fine to the CFPB. The remaining $2 billion will go toward compensating more than 16 million customers who were impacted by the "illegal activity,"...
The Wells Fargo Scandals Could Make It Harder to Roll Back Dodd-Frank LawNewmyer, Tory
Wells Fargo has been fined for several scandals involving fake accounts, mistreatment of loan customers, and more. It is still operating under a Federal Reserve-imposed cap on its assets. Big, Regional Acquisitions Wells Fargo was created with themergerof large regional banks. Founders Wells and ...
Tolstedt “attempted to conceal from regulators one of the biggest banking scandals in modern history,” prosecutors said in a court filing. “Corporate wrongdoers must be sent a clear message that maintaining a lucrative position through criminal behavior is not worth the risk.” Wells Fargo paid...
Rep.Patrick McHenry(N.C.), the panel’s top Republican, criticized the company for steady reports of sales scandals since 2016. “Each time a new scandal breaks, Wells Fargo promises to get to the bottom of it. It promises to make sure it doesn’t happen again,” he said. “But a ...
Wells Fargo draws bipartisan anger from Congress Wells Fargo CEO Tim Sloan got a 36% raise after one of the darkest years in the bank's history. At his own recommendation, Sloan isn't receiving a cash bonus, according to filings late Wednesday. The CEO cited "significant but incomplete ...
But while Wells Fargo is thus far the only institution known to have engaged in fraud, there are concerns other banks have been over-aggressively engaging in cross-selling, raising the specter of future scandals yet to be uncovered. The fintech angle ...