It's been a very difficult nearly two years for Wells Fargo. 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 unpre...
Senate’s small business committee, sent a letter addressed to Wells Fargo CEO John Stumpf demanding a full list of customers affected. “Fraudulent activity of your employees was not limited to Wells Fargo’s consumer banking operations,” he wrote in the letter, which was reviewed by Reuters ...
Wells Fargo CFO John Shrewsberry said the bank has held top officials accountable. Sen. Elizabeth Warren has demanded that board members in office during the bank's cross-selling scandal be removed. watch now VIDEO08:04 Wells Fargo CFO: There’s a lot to like about this past quarter As the...
Not an isolated dynamic Unfortunately, as CNN’s Matt Eganhas detailed, the apparent motivations for the Wells Fargo scandal aren’t unique to Wells Fargo. “Banks are under enormous margin pressure,” chief of the Office of Comptroller of the Currency, Thomas Curry, told a Senate pa...
Free Essay: Wells Fargo Scandal Wells Fargo founded in 1852 is known for being a financial services company. Wells Fargo provides banking, insurance,...
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 exec in accounts scandal deserves jail time, say prosecutors: ‘Corporate wrongdoers must be sent a clear message’ BYJoel Rosenblatt and Bloomberg September 2, 2023 at 11:49 PM GMT+8Wells Fargo paid $3 billion in penalties in 2020 over its widespread practice of opening checking...
Wells Fargo agrees to pay shareholders $1 billion Investors claimed the bank hadn't been honest about its progress in fixing its problems following scandal involving sham accounts. May 16, 2023 T.D. Jakes Group, Wells Fargo join forces for 10-year partnership Wells Fargo has committed up...
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Wells Fargo's troubles with its fake-account scandal have earned the bank a credit downgrade from a ratings agency. DBRS announced Wednesday that it is taking down the Wells rating from AA to AA (low). That's essentially a step and a half below top-rated, but still well within the rang...