Free Essay: Wells Fargo Scandal Wells Fargo founded in 1852 is known for being a financial services company. Wells Fargo provides banking, insurance,...
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A wave of controversy, kicked off by the fake-accounts scandal, have hurt Wells Fargo's reputation, raised its legal expenses and drawn the ire of regulators. Wells Fargo has said it doesn't expect to escape the Fed's unprecedented asset cap, which was imposed in February, until next ...
Wells Fargo provides banking, mortgage, investing and credit card services, as well as personal, small business and commercial financial services. The multinational company is headquartered in San Francisco, California
Wells Fargo announced that it will pay more than $180 million dollars in fines for its bogus accounts scandal. The bank has since announced it’s getting rid of retail banking sales by the end of the year.
Wells Fargo posted a decline in earnings, a further setback as the bank tries to revamp its practices following a series of scandals.
WELLS FARGO is distracted. That's the take of investment banking rivals hoping to take advantage and grab market share this year as the bank focuses on other problems away from its wholesale banking business. "When banks are distracted they necessarily take their foot off the gas," said one ...
Customers wait for an ATM outside of a Wells Fargo bank branch in Los Angeles. Patrick T. Fallon | Bloomberg | Getty Images The most recent results were the first full quarter since the scandal transpired. Profit came in at 96 cents a share, below expectations of $1 thanks to ineffective...
Wells Fargo is also facing lawsuits from former employees, shareholders, and customers. The bank has said it is changing its sales practices, and recently removed the sales goal incentives that led to fraud. But customers and industry watchdogs are now on alert. FEATURED VIDEO The Man Behind ...
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...