Wells Fargo & Company is an American multinational financial services company headquartered in San Francisco, California, with central offices throughout the United States. It is the world's fourth-largest bank by market capitalization and the fourth largest bank in the US by total assets. Wells Fargo is ranked number 26 on the 2018 Fortune 500 rankings of the largest US corporations by total revenue. In July 2015, Wells Fargo became the world's largest bank by market capitalization, edging past ICBC, before slipping behind JPMorgan Chase in September 2016, in the wake of a scandal involving the creation of over 2 million fake bank accounts and illegal manipulation of other accounts by Wells Fargo employees. Wells Fargo fell behind Bank of America to third by bank deposits in 2017 and behind Citigroup to fourth by total assets in 2018. Wells Fargo is incorporated in Delaware.
Wells Fargo reached a settlement Friday for a massive fake account scandal, in which it admitted to guilt and agreed to pay $3 billion to the Justice Department and Securities and Exchange Commission...
U.S. prosecutors are investigating the former head of Wells Fargo & Co’s community banking division for her role in the lender’s product mis-selling scandal, two sources said. Reuters - Published
Wells Fargo & Co said on Wednesday it plans to increase minimum wage to between $15 and $20 per hour for most of its U.S. markets, joining other Wall Street banks that have raised hourly pay in recent.. Reuters - Published
Citigroup Inc and Wells Fargo & Co have restricted all cross-border travel by employees in response to the rapidly spreading coronavirus outbreak. Reuters - Published
The U.S. Securities and Exchange Commission said on Thursday it ordered Wells Fargo & Co to pay $35 million to settle charges it failed to adequately supervise investment advisers who were recommending.. Reuters - Published
Wells Fargo & Co will pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and admitted to pressuring employees in a fake-accounts scandal, U.S. officials said on Friday,.. Reuters - Published
Wells Fargo & Co has racked up well over $7 billion in penalties since a sales practices scandal erupted in 2016, and continues to face headwinds. Reuters - Published
Wells Fargo is nearing a deal with federal prosecutors that would settle a years-long investigation into the bank's sales practices in its banking, auto lending, and mortgage divisions, The New York.. WorldNews - Published
Warren Buffett's Berkshire Hathaway Inc on Friday said it has taken a $549.1 million stake in Kroger Co, investing in the largest U.S. supermarket chain as smaller rivals struggle. Reuters - Published
Banking giant Wells Fargo is backing blockchain forensics firm Elliptic. Announced Thursday, the fresh $5 million from Wells Fargo Strategic Capital (WFSC) brings Elliptic’s Series B up to a total of.. WorldNews - Published
The former CEO of Wells Fargo can never work for a bank again and must pay a $17.5 million fine for his role in the bank's fake-accounts scandal.
USATODAY.com - Published
The S&P 500 eased from record levels on Tuesday, as technology stocks handed back gains made on hopes of a preliminary U.S.-China trade deal and Wells Fargo slid in a mixed start to big banks'.. Reuters - Published
Charles Scharf will make his public debut as Wells Fargo & Co’s chief executive during the bank’s quarterly earnings call on Tuesday, and those who have worked with him in the past say he is likely.. Reuters - Published
Wells Fargo & Co has laid off more than 200 bankers in its U.S. lending divisions in recent months, as the bank reacted to business trends and restructured some units, sources familiar with the matter.. Reuters - Published
After a difficult, months-long search for a new chief executive, scandal-plagued Wells Fargo & Co named as its next leader Charles Scharf, a one-time Jamie Dimon protégé known on Wall Street as a.. Reuters - Published
Wells Fargo & Co on Friday named banking veteran Charles Scharf its next chief executive officer, ending a six-month search for a new leader to turn around the fortunes of the scandal-plagued bank,.. Reuters - Published
Climate change activists on Friday protested outside the Trump Hotel, the EPA, Wells Fargo Bank and BlackRock in Washington, D.C.
USATODAY.com - Published
Wells Fargo & Co named banking veteran Charles Scharf as chief executive officer on Friday, the lender's third CEO since a wide-ranging sales scandal erupted three years ago. Reuters - Published
Wells Fargo relies heavily on interest rates to boost revenue, since it manages rate-sensitive deposits and mortgage securities. On July 31, the U.S. central bank cut its key overnight lending rate to.. WorldNews - Published
Wells Fargo & Co will pay the Navajo Nation $6.5 million to settle a lawsuit over "predatory and unlawful practices" by the bank, the Native American tribe said on Thursday. Reuters - Published
We talk a lot about how millennials need jobs that don’t just pay the bills, but fulfill the depths of our socially responsible, non-GMO, no-artificial-additives souls. There’s no way we’d settle.. WorldNews - Published
Wells Fargo & Co reported higher quarterly earnings on Tuesday, due in part to lower expenses, but the bank reined in its outlook for cost cuts to invest in improving its risk management. Reuters - Published
New York — Wells Fargo reported higher quarterly profit on Tuesday despite flat revenue, as the bank benefited from lower costs. Revenue fell at Wells’s community bank and wholesale bank as net.. WorldNews - Published
Big employers, including Amazon, Uber and Wells Fargo have spent hundreds of millions of dollars over the past decade to settle allegations they unlawfully snooped on job applicants. CBS News - Published
Wells Fargo & Co will pay customers at least $386 million to settle class-action claims that the bank signed them up for auto insurance they did not want or need when they took out car loans. Reuters - Published
Wells Fargo & Co board members are considering keeping interim Chief Executive Allen Parker in the job permanently even after saying they would seek an outsider to fill the role, according to two.. Reuters - Published
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