As a reminder, we have outstanding litigation, regulatory, and customer remediation matters that could impact operating losses during the remainder of the year. In summary, we had solid results in the third quarter, which demonstrated the progress we are making to transform Wells Fargo and improve...
The fines come after the Consumer Financial Protection Bureau (CFPB) alleged Wells Fargo has illegally assessed fees and interest charges on auto loans and mortgages, wrongly repossessed customers' cars and misapplied payments to auto and mortgage loans. The consumer watchdog agency also accused Wells...
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I also summarize the actions we’ve taken to simplify the way we operate. This work continued in the first quarter as we largely completed the exit of the correspondent home lending business as part of our plans to simplify that business. We are also narrowing our retail mortgage business to...
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.
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.
Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,300 locations,...
and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on ...
Company submitted for non-objection plans to remediate customers affected by the automobile collateral protection insurance and mortgage interest rate lock matters,as well as a plan for the management of remediation activities conducted by the Company.The Company continues to work to address the pr 55...
Overall, the bank’s earnings included a $781 million restructuring charge, a $757 million reserve release due to the sale of its student-loan portfolio and a $321 million hit due to the “impact of customer remediation accruals.” Wells Fargo is among several other big U.S. banks given ...