Wells Names 3 Key Executives To Web Group. (cover story)Reports on Wells Fargo & Co.'s reorganization of its Internet businesses. Naming of three senior appointments under group executive vice president Clyde Ostler; Alignment of the Internet group with the company's traditional banking activities...
WASHINGTON D.C.-- Wells Fargo says CEO John Stumpf and the executive who ran the bank’s consumer banking division will forfeit tens of millions of dollars in bonuses as it tries to stem ascandal over its sales practices. The board of directors at the nation’s second-largest bank said T...
Wells Fargo's progress in resolving outstanding regulatory matters 2018 - Added TSR governor to Performance Shares awarded to executives that reduces the maximum payout from 150% to 125% if our TSR for the performance period is not in top quartile of our Financial Performance Peer Group 2013 -...
Wells Fargo has been struggling to recover after admitting to a widespread fake accounts scandal that came to light in 2016. Wells Fargo workers had opened 3.5 million deposit and credit card accounts without customers' authorization. Since then, more has come to light. The bank charged for insu...
Last month, Wells Fargo executives disclosed that second-quarter mortgage revenue was headed for a 50% decline from the first quarter as sharply higher interest rates curtailed purchase and refinance activity. On Friday, the bank’s management said that a further decline in mortgage revenue during ...
Jennifer Hamann, executive vice president and chief financial officer, and Eric Gehringer, executive vice president – Operations, of Union Pacific Corporation will address the 2023 Wells Fargo Industrials Conference at 9 a.m. ET on Tuesday, June 13, 202
Wells Fargo, the third-largest bank in the U.S., is scheduled to report earnings on Friday morning. Profits and net interest income, a key source of revenue, are expected to have dropped from a year ago. Like other l
take steps to protect their businesses from external shocks. Mphasis was recognized as the second runner-up from a pool of over 100 applicants and delivered a proof of concept along with a demo to a panel of executives from Wells Fargo. Mphasis is a runner-up at the Wells Fargo Innovation...
Wells Fargo has been repeatedly sanctioned by U.S. regulators for violations of consumer protections law going back to 2016, when Wells employees were found to have opened millions of accounts illegally in order to meet unrealistic sales goals. Since then, Wells executives have repeatedly said the...
Wells Fargo executives don't expect the asset cap on the bank to be lifted until at least 2025, according to Reuters.19The order limiting Wells Fargo to a maximum of $1.9 trillion in assets was imposed by the Federal Reserve in 2016. It will stay in place until regulators deem that the...